Note that payment in full must be received fr om potential purchasers not later than 16 May 2014, for shares wh ere the applications have been approved, and in relation to which an answer on the granting of the application has been received. Shares in TNS energy can be paid for in cash and/or with the common and preferred shares of any of the six energy retail companies: the Nizhny Novgorod Energy Retail Company, the Yaroslavl Energy Retail Company, the Voronezh Energy Retail Company, the Mari El Energy Retail Company and Energosbyt Rostovenergo, Kubanenergosbyt.
Where payment is made in cash the obligation on payment for the shares is considered as fulfilled upon receipt of the money to the Issuer’s bank account, as indicated in the Issuer’s Decision on the Additional Issue of Securities and Prospectus for Securities. If the additional shares are paid for using non-monetary resources (nominal uncertified securities) — payment will be fulfilled upon the making of an entry into the Issuer’s record of holders of registered securities of the company, the shares of which are used as payment for the additional shares of the Issuer, or from the date of making an entry into the depository account credit record.
If the purchaser pays for the placed shares after 16 May 2014 or if the purchaser fulfills payment obligations only in part, the Issuer may decide to refuse to fulfill its counter obligations on the transfer of additional shares to the purchaser, and the Issuer shall notify the latter of this within 30 days.
The end date for the placement of additional shares (or the date of placement of the last additional share in the case that all securities have been placed) is 16 June 2014.
It has been reported that additional common nominal uncertified shares in the amount of 8,179,560 with a par value of 1 ruble each were placed, on the basis of a decision to increase the authorised capital of TNS energy, which was taken by the sole shareholder of TNS energy on 28 November 2013.
The key purpose of the issue is to attract funds and to increase the Issuer’s share in the subsidiaries and affiliates: the Nizhny Novgorod Energy Retail Company, the Yaroslavl Energy Retail Company, the Voronezh Energy Retail Company, the Mari El Energy Retail Company, Energosbyt Rostovenergo, Kubanenergosbyt.
The Issuer plans to invest the funds from the placement of shares into the development of the main activities of the Company.