OREANDA-NEWS. The Board of RAO “UES of Russia” instructed the RAO UES representatives at the shareholder meeting of OAO "Mosenergo" to vote for the approval of the private placement of the company's additional shares to Gazprom Group.

At its previous meeting held 29 September, the Board approved the issuance by OAO "Mosenergo" of RUB11.5 billion in additional shares, par value of RUB1 each, and the increase of Mosenergo's authorized capital by RUB11.5 billion.

The Management Board of RAO "UES of Russia" was instructed to submit to the Board of Directors its proposals regarding the persons to which the additional shares will be placed.

The placing price will be determined as an average weighted price of trading on the RTS and MICEX stock exchanges over the period of six months before the shareholder meeting of OAO "Mosenergo", at which the shareholders will approve the additional share issue, but not less than RUB5 per share.