OREANDA-NEWS. The Board of Directors of RAO "UES of Russia" gave voting instructions to RAO UES representatives at some of the Company's subsidiaries and dependent companies.

The Board instructed the Company's representatives at OAO "Yakutskenergo" to vote FOR increasing the authorized capital of OAO "Sakhaenergo". According to the Board resolution, OAO "Sakhaenergo" will issue 43,610,800 ordinary shares, par value RUB10 each, worth a total of RUB436,108,000.

The shares will be placed through closed subscription to shareholders of OAO "Yakutskenergo". Payment for these shares will be made in form of assets –- electricity and heat generation, transmission, dispatching, and distribution facilities. Currently, these facilities are leased by OAO "Sakhaenergo" from OAO "Yakutskenergo".

OAO "Sakhaenergo" is a wholly-owned subsidiary of OAO "Yakutskenergo". The company supplies electricity and heat in the Republic of Sakha (Yakutia), which has an area of 2.2 million sq. km and the population of 147,600 people.