May 16 TGK-9 BOD considered preparation to the annual meeting set for June 27, the company informed.
The agenda should include an issue on the restructuring of the Company in the form of the merger with Volzhskaya GTK. BOD recommended to pass the 2013-dividends. Ernst & Young can be affirmed as an auditor.
Within the merger 584.137561 common stocks of 0.003 rub. should be converted into one stock of Volzhskaya TGK. The buyback price should be fixed at 0.3075 rub./pcs.
TGK-9 (TIN 5904119383) was formed within the restructuring of energetic sector and involves generating capacities in Sverdlovsk reg., Perm reg. and Komi. It provides generation, transfer and sale of heat and electric energy. The Company is included into Urals Generation division within the KES structure. The total capacity of 23 power plants exceeds 3280 MW; heat - 17ths Gcal.
The share capital is equal to 23.512bn rub. split in 7837294563235 and 663801 common stocks of 0.003 rub. par.
The 2013-net losses were doubled (IAS) to 4.289bn rub. from 1.892bn rub.; revenues declined 7.34% to 131.96bn rub. from 142.418bn rub.;
operating losses coming to 334.664mln rub. vs. 847.337mln rub. in profit; pretax losses being up 2.88 fold to 4.491bn rub. from 1.558bn rub.
The 2013 net profit (RAS) dropped 10.16 fold to 127.582mln rub. from 1.296bn rub.; revenues declined 11.89% to 41.616bn rub. from 47.232bn rub.; profit from sales - 47.74% to 548.074mln rub. from 1.049bn rub.; pretax profit being down 9.64 fold to 156.213mln rub. from 1.506bn rub.