Mosenergo holders seal the company`s reorganization.
Mosenergo holders approved of the company's reorganization at June 28 AGM.
29 June 2004 13:05
As planned, Mosenergo will reorganize by splitting off the Management Energy Co., Backbone Grid Co., Moscow City's Power Grid Co., Moscow Heating System Co., Moscow Region's Power Grid Co., Mosenergosbyt, Special Design & Construction Bureau for Repair & Rebuilding. Mosteplosetenergoremont, Mosenergosetstroy, GRES-4, GRES-5, GRES-24, Zagorskaya GAES.
The stocks will be distributed among the holders.
Mosenergo holders voted against reorganization or refused to vote, may sell their stocks over 45 days after the voting, i.e. before Aug. 12, 2004. ADR holders have the similar right. Mosenergo may allocate max. 10% of the net assets (as of June 28, 2004) to buy out the stocks. |
