OREANDA-NEWS. At their Extraordinary General Meeting, shareholders of Generation Company Four of the Wholesale Power Market (OGK-4) have decided to increase the authorized capital of the Company through placement of 23 billion additional ordinary registered uncertified shares, with a par value of 0,4 ruble each. Placement method: public offering; method of payment for additional shares: in cash.

The Extraordinary General Meeting has also decided to amend the OGK-4 Articles of Association in connection with the increase in the quantity of authorized shares, which is necessary for the forthcoming placement. The Meeting had absentee voting. The deadline for receipt of completed ballots is April 23, 2007. The list of persons entitled to participate in the Meeting was made as of March 16, 2007.


Earlier, March 1, 2007, the OGK-4 Extraordinary General Meeting decided to reduce the authorized capital of the Company by decreasing the par value of the placed shares. According to the shareholders' decision, the authorized capital of the Company will be reduced from 49,130,625,974 rubles to 19,652,250,389.6 rubles, with a par value of 1 OGK-4 registered ordinary share to be decreased from 1 ruble to 0,4 ruble. The decrease in the OGK-4 authorized capital is conducted in pursuance of the Federal Law "On Joint-Stock Companies" to align the net asset value with the Company's authorized capital.