OREANDA-NEWS. December 11, 2009. Far East Energy Systems awaits the resumption of trading in its prefs in early February. Power holding Far East Energy Systems, whose preferred shares have been offline since December 10 due to a technical additional stock offering, expects trading to resume at least in early February 2010 after the share swap procedure is completed, the company’s press service said. Trading in prefs of Far East Energy Systems, which runs the Far East power utilities was halted on MICEX and RTS.

The latter said that trading would resume after the report on the results of the company’s additional stock offering was registered. Far East Energy Systems is placing a technical additional share issue of 2,075,149,384 preferred shares to be swapped for shares of the same category but with different rights. The holding said this is necessary to amend the procedure for paying out dividends on preferred shares. Shareholders decided in June that dividend payouts should be calculated based on the charter capital as of the date of the company’s state registration.