Corporate actions /August 2009/
1. July 07, Seligdar Gold redeemed the bond of the first series from the owners who applied for realization of call feature according to the bond issuance conditions, providing for the possibility of such redemption (put option). Total cost of the bonds redeemed at nominal price amounted to 89 million rubles.
2. Presently Seligdar shares are quoted at Russian Trading System (RTS) under Guaranteed Quoting System ( http://www.rts.ru/ru/securityresults.html?issue=SELG ). Measures are taken to prepare the shares for registration as listed securities.
3. “National Rating Agency” LLC assigned to the Seligdar group an individual rating corresponding to A group of credit solvency – high credit solvency, third level in the credit rating of the non-financial enterprises. The assigned rating allows performing the process of listing of the Seligdar Gold bonds of third series in the A1 list, which will substantially increase the liquidity of the papers.
4. Preparations for reorganization of the Seligdar subsidiaries from LLC to CJSC format are in progress in order to simplify securitization formalities for obtaining additional credit resources. The reorganization is scheduled to be finalized in August-September.
5. 13.07.2009, Special Meeting of shareholders of Lunnoye CJSC was conducted. The meeting approved conclusion of the general contractor agreement between Lunnoye and Seligdar Gold.
6. 30.07.2009, a meeting of the Board of Directors of Lunnoye CJSC took place. Measures aimed at bringing the cost of net assets of Lunnoye CJSC with the requirement of the law were discussed at the meeting. Final approval of the agreement is within the competence of the General Shareholder Meeting, which is to be held in August 2009. The agreements will be signed after the General Meeting.
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