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04/07/2014
13:21
M&A: Kirovenergosbyt, Sverdlovenergosbyt, Udmurt Power Supply Company to merge

On June 30, the shareholders of OJSC Kirovenergosbyt approved the company's annual report and decided to omit the dividends for 2013, the company informed.

The shareholders also approved the restated Charter, elected the Board of Directors and the revision commission, approved CJSC Business Consulting and Audit Center as the auditor.

Dmitry Sorokin, Yulia Chernyavskaya, Olga Kuzmina, Konstantin Lyakhov, Alexander Kotlov, Vitaly Korolev, Nadezhda Uchevatova, Nina Multanovskaya and Olga Nacharova were elected members of the Board of Directors.

The shareholders decided to restructure the company by merging it with OJSC EnergosbyT Plus together with OJSC Udmurt Power Supply Company and OJSC Sverdlovenergosbyt. In the course of the merger process, 68.4087 common and 88.9882 type A preferred shares of Kirovenergosbyt with a face value of RUB 0.006 each shall be converted into one common share of OJSC EnergosbyT Plus with a face value of RUB 0.14.

It will be recalled that the shareholders of OJSC Sverdlovenergosbyt and OJSC Udmurt Power Supply Company also approved the decision to restructure their companies by merging them with OJSC EnergosbyT Plus at their respective annual general meetings on June 30.

OJSC Kirovenergosbyt (tax number: 4345103477) is a power supply company of Kirov region qualifying as a last resort supplier. It was established on May 1, 2005 resulting from a planned restructuring of Kirovenergo. The company operates 9 inter-district departments. On December 4, 2007, IES-Holding acquired 48.17% of Kirovenergosbyt shares at an auction held to sell RAO UES of Russia's assets. On April 22, 2008, the shareholders of Kirovenergosbyt voted for the assignment of the exclusive executive authority to the management organization, CJSC KES.

According to the DataCapital information retrieval system, RAS net profit of OJSC Kirovenergosbyt for 2013 grew by 4.25% to RUB 2.724 million from RUB 2.613 million the year before. Revenue increased by 10.34% to RUB 12.482 billion from RUB 11.312 billion, sales profit by 32.98% to RUB 122.03 million from RUB 91.763 million, pre-tax profit by 49.19% to RUB 11.14 million from RUB 7.467 million.


"AK&M", 04.07.2014

 

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