Corporate actions /February 2009/
1. In January of 2009, Seligdar OJSC share offering statement was produced and submitted for registration into the territorial office of the Federal Financial Market Service (Vladivostok). The purpose of this action is to improve liquidity of the company shares by means of inclusion into quotation lists on the stock exchange markets (Moscow Central Stock Exchange, Russian Trade System). The shares will be entered into A1 quotation list. This will allow the security papers to be purchased by a wider circle of investors.
2. Preparations for issuing new bonded loan by Seligdar Gold OJSC are in progress (the issue is tentatively scheduled for April). By the Decision of the Seligdar OJSC Director Board of 26.01.2009 it is proposed to issue bonds for the amount of 1.5 billion rubles with the maturity period of 5 years. Surety commitment is provided for the form of Seligdar OJSC put option. The offering statement is submitted for registration in the Federal Financial Market Service of Russia. The issue is prepared taking into account the plans to enter the security papers into the A1 quotation list. The purpose of the placement is to refinance the existing borrowings.
3. In January 2009 Seligdar Gold OJSC and Uranium Mining Company OJSC entered into an agreement about funding of the Lunnoye CJSC subsidiary under the warranty of Seligdar Gold OJSC. Per the conditions of the present agreement the Uranium Mining Company OJSC will provide funding for Lunnoye CJSC in the amount of 150 million rubles for the period of 1 year for implementation of the production program for 2009. The first tranche in the amount of 50 million rubles was received.
4. In order to support production activities in 2009, Seligdar OJSC has obtained in February 2009 credit lines in two banks: Promsvyazbank OJSC and UniCredit Bank CJSC. Promsvyazbank OJSC opened a credit line for the total of 20 million US dollars for the period of 1 year and with the interest rate of 14% annually. UniCredit Bank CJSC provided funding in the amount of 16.5 million US dollars for the period of 1 year and with the interest rate of Libor + 10% annually. Preliminary approval of prolongation of these credit lines for 2010 were obtained from the banks.
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