OREANDA-NEWS. ОJSC "Теrritorial Generating Company  №5" Board of Directors issued recommendations for shareholders on the price of selling shares in connection with having received an obligatory offer from LLC “IES Holding” of purchasing issued securities.

In June, LLC “IES Holding” purchased TGC-5 additional issue of securities. Consequently, the share of LLC “IES Holding” and its affiliated persons in TGC-5 stock capital amounted to over 30%. According to the Federal law “On joint-stock companies”, LLC “IES Holding” put forward to all shareholders an obligatory offer of purchasing the shares owned by them.

Having examined the obligatory offer, TGC-5 Board of Directors marked that the price of purchasing complies with the requirements of federal legislature: the price offered for the shares is higher than medium balanced auction price during 6 months at stock exchanges and not lower than the maximum price of purchasing shares by LLC “IES Holding” and its affiliated persons during the previous six months.

It is known that RAO “UES of Russia” who owns 47.75% of TGC-5 shares, will not accept the obligatory offer of LLC “IES Holding” and sell its shares.

In the course of 15 days after receiving the obligatory offer TGC-5 will send the obligatory offer with recommendations of the Board of Directors to all shareholders of the company.