OREANDA-NEWS. On 22 July 2009 TGC-1 announced that Directorate of Moscow Interbank Stock Exchange (MICEX) approved transfer of common shares of JSC “TGC-1” (issue ID - 1-01-03388-D registered 17 May 2005) from quotation list “A” tier 2 (“A2”) to quotation list “A” tier 1 (“A1”).

Boris Vainzikher, TGC-1 CEO, commented: “listing upgrade is not only a sign of trust from the part of market participants and appreciation of our standards of corporate governance, but also an important step aimed at expansion of our investor base”.

According to MICEX listing standards to be listed in “A1” a company’s market capitalisation should be no less than RUR 10 bln, the company must be breakeven or profitable for the last 2 years. Besides, monthly trading volume for the last 3 months should be no less than RUR 25 mln, while average monthly trading volume during the last 6 months – no less than RUR 50 mln. After TGC-1 shares are put in “A1”, they will be automatically be allowed to be the object of investment from the part of insurance companies, companies managing the assets of the Pension fund, non-state pension funds.

TGC-1 shares were allowed to MICEX as of 25 January 2007, as of 21 December 2007 they were put in quotation list “B”, and as of May 2008 – in quotation list “A2”. In 2008 the number of dealing in stocks was 39,849, the trading volume – 106,026,322,000 shares or RUR 1,191,858,602.50. In 1H 2009 the number of dealing in stocks was 64,786, the trading volume - 381 310 841 000 for a total of RUR 2,312,492,691.