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Provider: Wright Reports
Provider: Reuters Investment Profile
Provider: Otkritie
Provider: Otkritie

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NOMOS-BANK OAO Recommends To GDR Holders Offer By NomGDR Limited; Elects Mr. Vadim Belyaev As President

Wednesday, 21 Nov 2012 07:00pm EST 

NOMOS-BANK OAO (NOMOS BANK) announced that its Supervisory Board has decided to recommend to holders of global depositary receipts (GDRs) of NOMOS BANK the offer by NomGDR Limited to acquire the GDRs at the price and on the terms set out in the draft offer memorandum of NomGDR Limited. The Supervisory Board presumes that the offer by NomGDR Limited will be made no later than November 22, 2012. The recommendation is based, among other things, on the opinion of Citigroup Global Markets Limited (Citi), financial advisor to NOMOS BANK, which relates to the fairness, from a financial point of view, of NomGDR Limited’s offer to GDR holders and the fact that Otkritie Advisory Services Limited, 100% of the shares of which are indirectly owned by OTKRITIE Financial Corporation JSC, has the right to acquire 100% of shares in NomGDR Limited. On November 13, the Supervisory Board announced that in the event of an announcement of an offer by Otkritie Financial Corporation, its affiliates or entities specially designated for this purpose (OFC), to purchase the GDRs of NOMOS at a price that the Supervisory Board of the Bank considers suitable to recommend to the holders of the GDRs, the Board will convene a meeting as soon as possible to consider the appointment of Mr. Vadim Belyaev as Chairman of NOMOS. NOMOS BANK has also voted to elect Mr. Vadim Belyaev as President of NOMOS BANK as of November 23, 2012. Mr. Dmitry Sokolov will be appointed as NOMOS Chief Executive Officer (CEO). 

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