Key Developments: Volzhskaya TGK OAO (VTGK.MM)

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Latest Key Developments (Source: Significant Developments)

Merol Trading Limited reduces stake in Volzhskaya TGK OAO-AK&M
Monday, 1 Sep 2014 08:00pm EDT 

Volzhskaya TGK OAO:Merol Trading Limited (Cyprus) has reduced its equity position in Volzhskaya TGK OAO to 14.6395 percent, the generating company informed-AK&M.Earlier, the Cypriot company owned 20.2326 percent of the voting shares in Volzhskaya TGK OAO.  Full Article

Volzhskaya TGK OAO buys 59 pct of Inter Promo Trade-AK&M
Thursday, 21 Aug 2014 08:00pm EDT 

Volzhskaya TGK OAO:On Aug. 20, Volzhskaya TGK OAO (Volga TGC) acquired 590 common shares (59 percent of the authorized capital) of Inter Promo Trade Limited (Belize) from Renova Industries Ltd, the company informed-AK&M.The transaction amounted to 12.6 billion Russian rubles, the payment deadline is Dec. 31, provided that the company's debt is fully settled.The conclusion of this transaction was approved at the annual shareholders' meeting of Volga TGC on June 27.  Full Article

Volzhskaya TGK OAO appoints chairman of board of directors-Interfax
Monday, 28 Jul 2014 01:40am EDT 

Volzhskaya TGK OAO:Volzhskaya TGK OAO has appointed Kirill ALeksanrovich Lykov to the post of the Chairman of the Board of Directors-Interfax.  Full Article

FAS allows Volzhskaya TGK OAO to purchase 100 pct in Inter Promo Trade Limited-AK&M
Sunday, 20 Jul 2014 08:00pm EDT 

Volzhskaya TGK OAO:Russia's Federal Anti-monopoly Service (FAS) granted the application of Volzhskaya TGK OAO (Volga TGC) for the purchase of 100 percent of the shares in Inter Promo Trade Limited which owns entities of JSC Russian utilities systems, the regulatory body informed-AK&M.In particular, Inter Promo Trade exercises control over RKS-Engineering LLC, OJSC RKS-Management, RKS-Holding LLC, CJSC Novogor, Volzhskie Kommunalnie Sistemi LLC (Volga Utilities Systems) and OJSC Water Technologies.  Full Article

Volzhskaya TGK OAO to be IES Holding consolidation center and merge with TGK-5, TGK-9 and TGK-6-Interfax
Monday, 19 May 2014 05:22am EDT 

Volzhskaya TGK OAO:Volzhskaya TGK OAO (TGK-7) has been chosen as Integrated Energy Systems (IES) Holding's consolidation center, according to TGK-7 materials-Interfax.TGK-7's board meeting agenda included reorganizing the group in the form of a merger.The issue was formulated in a different way for the agendas of Territorial'naya generiruyushchaya kompaniya No 5 OAO (TGK-5), TGK-6 OAO (TGK-6) and Territorial'naya generiruyushchaya kompaniya No 9 OAO (TGK-9) board meetings.The agendas included reorganization in the form of a merger, as well as the approval of a merger agreement and a transfer deed.TGK-7's board of directors approved an additional issue of 16,843,940,187 ordinary shares with par value of 1 Russian ruble.The shares will be placed through conversion of shares of TGK-5, TGK-9 and TGK-6.The conversion ratio for TGK-5 is 971.982143 ordinary TGK-5 shares per one additional TGK-7 share.The conversion ratio for TGK-6 shares is 1,037.080254 shares per one additional TGK-7 share.The TGK-9 ratio is 584.137561 shares per one TGK-7 share.Aside from the three TGKs, TGK-7 will also be merged with a number of other companies.TGK-7 told Interfax all of its subordinate offices would become TGK-7 offices in the consolidation.Sales divisions will not be included in the merger, however; they will be consolidated in a separate sales company.All IES Holding companies will placed under the T Plus Group umbrella brand starting in 2015.  Full Article

Volzhskaya TGK OAO to be rebranded-Interfax
Monday, 19 May 2014 02:25am EDT 

Volzhskaya TGK OAO:Volzhskaya TGK OAO or TGK-7, will receive the name "t+," the director of strategic communications for IES Holding, Yelena Sanarova, told journalists-Interfax.Volga TGK will become the center for the consolidation of IES Holding's companies.The issue of rebranding will be discussed at the first shareholders meeting of the newly merged company in 2015.Rebranding is necessary in order to do away with previous industrial standards, the company said in a presentation.IES Holding is also considering making t Plus Group the new and only brand, the company told Interfax.  Full Article

Volzhskaya TGK OAO recommends no FY 2013 dividend payment
Monday, 19 May 2014 01:19am EDT 

Volzhskaya TGK OAO:Recommends not distributing dividend for the fiscal year 2013.  Full Article

Volzhskaya TGK OAO to buy Interpromotrade shares from Renova Industries-Interfax
Monday, 19 May 2014 01:08am EDT 

Volzhskaya TGK OAO:The board of directors of genco Volzhskaya TGK OAO (Volga TGK) has approved a buy-sell agreement to purchase shares of Interpromotrade from Renova Industries, according to Volga TGK materials-Interfax.Volga TGK will buy 590 shares of Interpromotrade, or 59 percent of the company's capital.Volga TGK will pay no more than 12.6 billion Russian rubles for the shares, less VAT.Interpromotrade owns 100 percent of LLC Russian Utility Systems Holding either directly or indirectly, as well as a number of other companies that are part of the holding.This includes IES-Engineering, CJSC Novaya Gorodskaya Infrastructura, OJSC IES-Management and 74.99 percent of LLC Volga Communications Systems.  Full Article

INTER RAO YEES OAO subsidiary divests stake in Volzhskaya TGK OAO
Wednesday, 14 May 2014 12:00am EDT 

INTER RAO YEES OAO:Announces that on May 13 Inter RAO has changed its participation interest in the charter capital of Volzhskaya TGK OAO from 7.5 percent of voting shares (2,250,889,477 ordinary shares to 0 percent of voting shares (0 ordinary shares).Inter RAO owned the above stake indirectly, through wholly owned CJSC INTER RAO Capital.  Full Article

Gazprombank opens credit line for Volzhskaya TGK OAO-Interfax
Tuesday, 1 Apr 2014 07:48am EDT 

Volzhskaya TGK OAO:Volzhskaya TGK OAO has concluded an agreement with Gazprombank on a non-renewable credit line of up to 10 billion Russian rubles, the genco said in a statement-Interfax.The bank will disburse the credit line in tranches running until Feb. 26, 2019.The credit agreement was concluded on March 28.Being a deal concluded in the normal course of TGK-7's economic activity, it did not need to be approved by the company's executive authority.The interest rate on the loan will not exceed 15 percent.  Full Article

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