NCSP Received Fairness Opinion on Primorsk Acquisition
OREANDA-NEWS. December 31,
J.P. Morgan plc rendered a fairness opinion to the Board of Directors of Public Joint Stock Company "Novorossiysk Commercial Sea Port" in relation to the Transaction (addressed solely to the Board of Directors and solely for their benefit and use in considering the Transaction on behalf of Public Joint Stock Company "Novorossiysk Commercial Sea Port") which states that, as at the date of such opinion and on the basis of and subject to the matters referred to therein, the consideration to be paid by Public Joint Stock Company "Novorossiysk Commercial Sea Port" in its proposed acquisition of LLC "Primorsk Trade Port" is fair, from a financial point of view, to Public Joint Stock Company "Novorossiysk Commercial Sea Port"[i].
Material conditions of the Transaction were disclosed in NCSP Group press releases dated 15 September 2010, 18 October 2010, and 29 October 2010.
[i] J.P. Morgan plc ("J.P. Morgan") is acting for Public Joint Stock Company "Novorossiysk Commercial Sea Port" in relation to the Transaction and for no one else and J.P. Morgan shall not regard any other person (including, without limitation, any person who is a director, officer, employee, shareholder or creditor of Public Joint Stock Company "Novorossiysk Commercial Sea Port") as its client in relation to the Transaction and shall not be responsible to any person other than Public Joint Stock Company "Novorossiysk Commercial Sea Port" for providing protections afforded to clients of J.P. Morgan or advising any person involved in the Transaction other than Public Joint Stock Company "Novorossiysk Commercial Sea Port" The fairness opinion rendered by J.P. Morgan to the Board of Directors of Public Joint Stock Company "Novorossiysk Commercial Sea Port" does not constitute a recommendation to, or for the benefit of, any holder of shares or other securities in Public Joint Stock Company "Novorossiysk Commercial Sea Port" as to whether such holder should vote (or give instructions to vote) with respect to the proposed acquisition of LLC "Primorsk Trade Port" or any other matter.
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