OREANDA-NEWS. August 2, 2011. JSC "Federal Grid Company of Unified Energy System" (“Federal Grid Company” or the “Company”, ticker symbol: MICEX, RTS, LSE: FEES), today announces the issue of additional shares with the total nominal value of RUR 5.2 bln.

On 29 July 2011, the Board of Directors of Federal Grid Company approved the increase of the Company’s authorised share capital by issuing additional ordinary shares and signed off the Prospectus for the issue. The Company will issue a total of 10,321,601,853 ordinary shares with the nominal value of RUR 0.5 per share.

The Government of Russia will acquire RUR 4.1 bln worth of the newly issued shares. The rest of the issue will be offered publicly on the market. Existing shareholders will have a pre-emptive right to acquire the newly issued stock proportional to their existing holdings in the Company.

The proceeds from the placement will be used for financing the Company’s existing investment programme.

The placement of the newly issued shares is planned to take place in September 2011.