OREANDA-NEWS. November 16, 2007. OAO ARMADA (MICEX, RTS: ARMD) announces that the decision of the RTS Stock Exchange’s executive body on transferring ARMADA’s common registered shares to the Quotation list “B” will come into force on November 16.

ARMADA’s shares are currently traded in the Quotation list “I”, which includes securities of medium-size rapidly growing companies, while the Quotation list “B” imposes stricter requirements for issuers. In particular, an issuer has to be capitalized above RUR1.5bn (approx. $61.3m), compared with RUR60m (approx. $2.5m) for the Quotation list “I”, and the trading volume over the three previous months must be a minimum of RUR1.5m (approx. $61.2thsd.), whereas the Quotation list “I” does not impose any trading volume requirement whatsoever. In addition, the list “B” assigns new information disclosure and corporate governance commitments.

“The fact that ARMADA’s shares have been transferred to the Quotation list “B” characterizes them as a highly reliable instrument with a fairly stable trading volume, and we are happy that this has happened less than half a year after the company’s IPO,” ARMADA’s General Director Alexei Kuzovkin said.