Svyazinvest holds BoD meeting

The board of directors passed a number of resolutions as part of measures by the state to contribute to the charter capital of the Company the state’s stakes in the following telecommunications companies: Ingushelektrosvyaz (100%), Bashinformsvyaz (28.24%), MMTS-9 (38%), Central Telegraph (21.78%) and Chukotkasvyazinform (75%).

The board of directors passed a resolution to participate in Ingushelektrosvyaz, MMTS-9 and Chukotkasvyazinform and raise its equity stake in Central Telegraph.

In order to determine the parameters of the Company’s additional share issue the board of directors set the placement price for one additional common nominal non-certificated share of Svyazinvest at RUR 12.16. The appraisal of shares was made by independent appraiser Avers Appraisal Center and received a positive expert opinion by Community of Professional Appraisers, a self-regulated organization of appraisers.

The board of directors also approved the monetary appraisal of equity stakes in telecommunications companies, which are to be contributed as payment for the Company’s common nominal uncertificated shares:

• an equity appraisal of a 75-percent stake in Chukotkasvyazinform, which consists of 847,993 common nominal shares, and which amounts to RUR 490 mln;
• an equity appraisal of a 38-percent stake in MMTS-9, which consists of 4,904 common nominal shares, and which amounts to RUR 452.6 mln;
• an equity appraisal of a 28.24-percent stake in Bashinformsvyaz, which consists of 278,200,044 common nominal shares, and which amounts to RUR 2,760 mln;
• an equity appraisal of a 21.78-percent stake in Central Telegraph, which consists of 48,259,000 common nominal shares, including RUR mln 48,196,000 common shares and 63,000 preferred shares, which amounts to RUR 1,330 mln;
• an equity appraisal of a 100-percent stake in Ingushelektrosvyaz, which consists of 1,002,730 common nominal shares, which amounts to RUR 128.201 mln;

The stakes in the aforementioned telecommunications companies were appraised at the request of the government of the Russian Federation by independent appraiser Avers Appraisal Center.

The board of directors also adopted a decision to convene an extraordinary general meeting of shareholders (AGM) on June 29, 2012 at the following address: 55 Plyushikha St. bldg. 2 as a joint assembly of shareholders to discuss issues on the agenda and to adopt a decision on issues put to vote. At the AGM the following motions will be put to vote:

1. Determination of the number, par value, class (type) of the Company’s authorized shares and the rights granted by these shares;
2. Amendments made to the Company’s Charter;
3. An increase in the Company’s charter capital.