OREANDA-NEWS. On 11 August 2008 was announced, that the regular meeting of Volga TGC Board of Directors took place.

The members of Volga TGC Board have approved the reports on results of two additional company shares issues, distributed within the frames of RAO UES of Russia reorganization and merger of Volga TGC Holding, spinned-off from RAO UES, with the Company. In total Volga TGC has distributed:

33 267 092 additional ordinary shares of the Company by means of Volga TGC Holding ordinary shares conversion;

3 516 437 additional ordinary shares of the Company by means of Volga TGC Holding preference shares conversion.

It will be recalled that Volga Territorial Generation Company reorganization and spin-off from RAO UES of Russia was completed on July 1, 2008 with Volga TGC Holding merger. As a result of this process, part of Volga TGC authorized capital (15,28%) that had belonged to RAO UES before July 1, 2008, was distributed among RAO’s minority shareholders.