OREANDA-NEWS. The Board of Directors approved the principal terms and conditions of the Share Purchase Agreement to sell the ordinary shares in OAO "WGC-4" attributable to the "government stake".

According to the resolution of the Board of Directors, the total number of WGC-4 shares to be sold is to be divided into two parts. The size of the first part will be determined so as to ensure that, after its sale, RAO "UES of Russia" holds 50% plus one share in the authorized capital of WGC-4 taking into account the additional share issue. The buyer of the shareholding should own at least 25% plus one share in the company after the new share issue.

The remaining part of the "government stake" in WGC-4 will make the second part of the holding. All shares intended for sale are to be sold at a price not lower than the offering price set for the new share issue of WGC-4.

The terms of payment and transfer of the parts of the shareholding are different. The first part is to be paid by the buyer in full not later than 5 working days after the official registration by the securities regulator, FSFM of Russia, of a report on the results of the additional share issue of WGC-4. RAO "UES of Russia" will transfer these shares within 5 working days of receipt of payment.
 
The second part of the shareholding will be transferred on condition that the buyer makes full payment for the shares.