OREANDA-NEWS. The Board of Directors of RAO UES approved the conditions of the additional share offering of OAO "WGC-4".

RAO UES Board of Directors instructed the representatives of RAO "UES of Russia" at the shareholder meeting of OAO "WGC-4" to vote FOR the approval of the maximum number of additional shares that WGC-5 is authorized to issue at 23,000,000 ordinary shares, as provided by Article 4.2. of its Charter.

The shares in WGC-4 will be offered to the public in exchange for cash payment. The offering price will be determined by the WGC-4 Board after the expiration of the pre-emptive right available to WGC-3 shareholders to acquire additional shares.

The company will use the offering proceeds to finance its generation capacity expansion projects at the Shaturskaya TPP, Yaivinskaya TPP, Berezovskaya TPP and Surgutskaya TPP-2.

The Board of Directors of RAO "UES of Russia" approved the reduction in the Company's interest in OAO "WGC-4" from 89.60 percent to not less than 61 percent.