OREANDA-NEWS. May 05, 2011. Public Joint Stock Company “ARMADA” (“ARMADA” or the “Company”), a group of IT companies focused on high margin Software Development & IT Services businesses (MICEX, RTS: ARMD), announces pricing of its global share offering (the “Offering”) of 2 400 000 newly issued shares (“theShares”) at USD 13.00 per Share.

ARMADA has received applications from existing shareholders for the exercise by them of statutory pre-emptive rights in respect of 129 164 Shares. Closed Joint Stock Company IT Ingeneering, 100% owned by ARMADA, subscribed for up to 700 000 Shares. The Company intends to use the proceeds from the Offering and Shares owned by IT Ingeneering to finance selective acquisitions on the market.

Mr. Alexey Kuzovkin and Arsenal Advisor Ltd. have decided not to sell any ordinary shares in the Offering.

The Shares are expected to be admitted to trading on the Open Joint Stock Company “Russian Trading System Stock Exchange”, and to be listed on Closed Joint Stock Company “MICEX Stock Exchange” after the filing of the Placement Notification with FSFM.

The Company, Arsenal Advisor Ltd. and IT Ingeneering have agreed, subject to customary exceptions, to enter into a lock-up agreement for a period of 180 days following completion of the Offering.

VTB Capital acted as a Sole Global Coordinator and Bookrunner, while Gazprombank acted as a Co-Lead Manager for the Offering.

Commenting on today’s press release, Alexey Kuzovkin, Chairman of the Board of Directors of ARMADA, said:

“ARMADA offering of shares has succeeded in attracting substantial demand a range of institutional investors from the UK, Europe and Russia. Today’s success will mark another important step in Company’s development and will enable further balanced development of Armada’s business driving future growth and providing more value to the shareholders.”