OREANDA-NEWS. The Board of Directors of RAO "UES of Russia" approved the updated Programmes for the preparation and issuance of additional shares of OAO "TGC-1" and OAO "TGC-9" and instructed the RAO UES representatives to vote for the approval of the proposed share issues.

The capital increase by OAO "TGC-1" and OAO "TGC-9" is primarily aimed at raising funds needed to modernize the existing and build new capacity.

At today's meeting, the Board of Directors instructed the RAO UES representatives at the general shareholders' meeting of OAO "TGC-1" to vote FOR the increase of the number of additional shares authorized for issuance by 1,875,228,129,448 ordinary shares, par value RUB0.01 per share, which represents 64.01% of the TGC-1 capital prior to the new share offering and 39.03% of the TGC-1 capital after the offering).

OAO "TGC-9" expects to issue 3,673,132,973,944 ordinary shares, RUB0.003 par value each (which represents 64.46 percent of TGC-9 capital prior to the offering and 39.2 percent of TGC-9 capital after the offering).