OREANDA-NEWS. April 16, 2009. The meeting of the stockholders made decision on reorganization by merger of the JSC "Holding "Network Company", by its separation from JSC "Tatenergo", and approving the contract on combination. The reorganization is held as part of reforming the Russian power engineering industry pursuant to Federal laws, banning since July 1, 2008 the combination of electricity production, its transfer, sale and dispatching buy a single group of entities.

Since February 5, 2009 the JSC "Tatenergo" stockholders at the extraordinary general meeting made decision to reorganize the company by separating JSC "Holding "Network Company" with its further merger with JSC "Network Company ". The authorized capital of the new entity was raised in amount of 4.82 billion rubles through decrease of the authorized capital of JSC "Tatenergo". Stock placement of the JSC "Holding "Network Company" is done through conversion of part of common stock of JSC "Tatenergo", belonging to Republic of Tatarstan. At the same time the authorized capital of JSC "Tatenergo" decreases till 10.23 billion rubles. The Holding under formation will be transferred the part of property, rights and obligations of "Tatenergo" in accordance with the separating balance.

At the stockholders meeting of JSC "Network Company" was approved the new wording of the Charter and decision taken on increase of the authorized stock by placing the additional stock, into which will be converted the stock of the connected JSC "Holding "Network Company". Basing on results of reorganization the authorized capital of JSC "Network Company" will constitute 10.49 billion rubles. Major stockholder of the Company after completing the reforming of the power holding will be the Republic of Tatarstan which will own 86.62 of the voting stock.

The stockholders elected the new members of the Board of Directors of JSC "Network Company" including Evgeni Victorovich Ametistov, Airat Rafailevich Ahmetov, Alexander Nickolaevoch Yevseev, Marat Faizrahmanovich Minibaev, Guzyal Gabdulhakovna Sadrieva, Damir Harunovich Safiullin, Raisa Abdullovna Sahieva, Farid Haodarovich Tuktarov, Ilshat Shaekhovich Fardiev.