The Company issued global depositary receipts (GDR) for the ordinary shares of OJSC Enel OGK-5 (as the Company was called at that time), after receiving permission from the Federal Financial Markets Service of the Russian Federation to trade no more than 7,074,537,100 ordinary shares of the Company. The GDR program was established and is maintained in accordance with the Regulation S (Reg S). The ratio of the GDR to the Company’s ordinary shares is 1:50.
The purpose to open the Company’s depositary receipts program
is to increase the liquidity of the Company’s commercial papers, ensure growth of the shareholder value of the Company, as well as to ensure protection of rights and legitimate interests of the holders of ADR and GDR, which had been previously issued for the shares of OJSC RAO “UES of Russia”. The holders of such depositary shares of OJSC RAO “UES of Russia” were given similar rights in respect of the Company’s commercial papers during the reorganization of OJSC RAO “UES of Russia”, carried out by demerging OJSC OGK-5 Holding from OJSC RAO “UES of Russia” along with its merger with the Company at the same time.
The GDR trading is carried out on the over-the-counter securities market of the United States of America. The custodian bank is the Bank of New York Mellon.