Power Machines OJSC reports on submission of a voluntary offer to acquire equity shares of PJSC TKZ Krasny Kotelshchik, for the purpose of consolidation of equity shares, to the Federal Financial Market Service (FFMS of Russia) on August 9, 2013. In case of a positive decision, the voluntary offer will be sent to the company’s shareholders.
The total equity capital of PJSC TKZ Krasny Kotelshchik is divided into 213,258,000 equity uncertified registered shares with face value of 1 rouble each.
Currently, Power Machines OJSC together with its affiliates own 78.98% of PJSC TKZ Krasny Kotelshchik equity shares, of which 77.34% belong to EMAlliance PJSC – a 100% subsidiary of Power Machines OJSC.
Proposed value for acquisition of the securities amounts to 11.956 roubles per share. This price has been set based on weighted average price as determined following the results of trades during 6-month period. Securities of PJSC TKZ Krasny Kotelshchik are included in the Catalogue of non-listed stock of the List of securities allowed for trading at MICEX.
Power Machines OJSC is interested in implementation of the long-term strategy for development of PJSC TKZ Krasny Kotelshchik, which aims to retain and strengthen leadership positions in the boiler equipment industry, as well as to expand presence on the global market of power equipment.