Issue additional Company shares
On 9/19/2016 a Decision was adopted at the extraordinary General Meeting of Shareholders (Minutes No. 38 of 9/21/2016) to increase the authorized capital of Kubanenergo PJSC through placement of 57,457,846 of additional shares by public offering.
On 12/15/2016 the Bank of Russia adopted a Decision on the State registration of the additional issue and on the registration of Prospectus of uncertified registered common shares of Kubanenergo PJSC. The additional issue of shares was assigned a State Registration Number 1-02-00063-A.
The total number of shares issued is 57 mln. 457 thou. 846 of shares.
The maximum amount of money receivable upon placement of all the shares of the additional issue totals to RUB 5.75 bln.
Objectives of the issue: raising investments, enhancing financial stability of Kubanenergo PJSC.
Issue of additional shares of Kubanenergo PJSC is aimed, particularly, at raising investments for consolidation of electric grid facilities within the Company business area on the basis of Kubanenergo PJSC through their purchase from owners for a total amount of up to RUB 3.2 bln, that enables the Company to increase:
- the length of power transmission lines by 2.6 thou. km;
- total substation capacity by 857 MVA;
- number of conditional units of electric grid assets by 39.9 thou.
Offer price (including individuals on the list of people holding the preemption right) per additional common share is RUB 100.
The payment of additional shares shall be performed in cash.
From 12/20/2016 to 10/16/2017 the accepts the shareholders’ requests for acquisition of the Company additional shares in the exercise of the preemption right. In the reporting year more than RUB 2 bln was raised in return for the shares placed.
Placement of additional shares of the Company shall be finished on 12/15/2017.
Information on the current issue of additional shares of Kubanenergo PJSC is published on the Company website: Home page / For Shareholders and Investors / Information Disclosure / Disclosure of information at specific stages of the securities issue procedure / Additional issue of shares of Kubanenergo PJSC (state registration number 1-02-00063-A of 12/15/2016).