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Company history

IDGC of Centre and Volga Region, JSC (starting in 2015 - IDGC of Centre and Volga Region, PJSC) was registered by the Tax Office of the Federal Tax Service in Nizhniy Novgorod District of the City of Nizhniy Novgorod as of June 28, 2007 by virtue of the decision of the only founder (Order of JSC “RAO UES of Russia” No. 193r as of June 22, 2007) within the framework of realization of the decision of the Board of Directors of JSC “RAO UES of Russia” on participation in IDGC (Minutes No. 250 as of April 27, 2007). The authorized capital of IDGC of Centre and Volga Region, JSC at the moment of establishment accounted for RUR 10,000,000 and was divided into 100,000,000 ordinary registered shares of equal par value of 10 kopecks each.

On June 13, they carried out the 100% payment of the authorized capital of IDGC of Centre and Volga Region, JSC.

On August 20, 2007 Federal Financial Markets Service of Russia carried out the state registration of the issue of the ordinary shares of the Company. The number is № 1-01-12665-Е. The structure of IDGC of Centre and Volga Region, JSC according to the configuration of IDGC approved by the Board of Directors of JSC “RAO UES of Russia” (minutes No. 250 as of April 27, 2007) contains the following distribution grid companies (DGC) :

JSC “Vladimirenergo”

JSC “Ivenergo”

JSC “Kalugaenergo”

JSC “Kirovenergo”

JSC ”Marienergo”

JSC “Nizhnovenergo”

JSC “Ryazanenergo”

JSC “Tulaenergo”

JSC “Udmurtenergo”

JSC “IDGC of Centre and Volga Region” supported the functioning of DGC being a part of it in accordance with the configuration of IDGC approved by the decision of the Board of Directors of JSC “RAO UES of Russia” as of April 27, 2007 (Minutes No. 250). Due to this, within the framework of the target model forming of DGC management (till the moment of IDGC reorganization completion in the form of merging), in accordance with the decision of the General Shareholders Meeting of DGC on conditions approved by the Board of Directors of DGC the determined DGC signed the agreement concerning the transition of authorities of the sole executive bodies of DGC to IDGC, in the third quarter of 2007.

On November 2007 they carried out the meeting of the Board of Directors of DGC and IDGC of Centre and Volga Region, JSC where they took the decisions on the issues concerning convening of the Extraordinary General Shareholders Meeting of DGC and IDGC. The recommendations were given to Extraordinary General Shareholders Meeting of DGC and IDGC in the issue of the reorganization. They also approved the plans of DGC shares buying out and the coefficients of DGC shares conversion to shares of IDGC.

On December 11 and 14 of 2007 they carried out the Extraordinary General Shareholders Meetings of DGC where they took the decisions on reorganization in the form of merging. The decision on reorganization of IDGC of Centre and Volga Region, JSC was taken by the Management Board of JSC “RAO UES of Russia” as of December 25, 2007. To form the target structure of IDGC in new configuration on December 19, 2007 the Chairman of the Russian Federation Government signed Order No. 1857-r determining the possibility to form IDGC on the basis of DGC shares belonging to JSC “RAO UES of Russia” in new configuration of IDGC.

On February 29, 2008 they successfully completed the reorganization of “Interregional Distribution Grid Company of Centre and Volga Region”, Joint-Stock Company – the “pilot project” of consolidation of distribution grid assets. All distribution grid companies (DGC) being the part of configuration of IDGC of Centre and Volga Region, JSC, terminated their activity as joint stock companies and began their activity as branches.

From February 29, 2008 IDGC of Centre and Volga Region, JSC presents the unified operating company with the responsibility centre in the city of Nizhniy Novgorod. It governs nine regional branches: JSC “Vladimirenergo”, JSC “Ivenergo”, JSC “Kalugaenergo”, JSC “Kirovenergo”, JSC ”Marienergo”, JSC “Nizhnovenergo”, JSC “Ryazanenergo”, JSC “Tulaenergo” and JSC “Udmurtenergo”. The forming of the Company in the given configuration was carried out in accordance with the regulation of the Russian Federation Government as of December 19, 2007 No.1857-r.

As of February 29, 2008 they carried out the conversion of shares of the merged companies to the additional ordinary shares of IDGC of Centre and Volga Region, JSC due to which all the shareholders of DGC became the shareholders of the unified operational company.

To carry out the conversion of shares on February 22, Federal Financial Markets Service of Russia registered the additional issue of shares of IDGC of Centre and Volga Region, JSC as well as the prospectus of the ordinary registered non-documented shares of the Company.

On April 1 of 2008 Open Joint Stock Company “Russian Trading System” Stock Exchange and Closed Joint Stock Company “Moscow Interbank Currency Exchange” on April 2 of 2008 took the decision on the inclusion of the ordinary registered non-documented shares of IDGC of Centre and Volga Region, JSC to the securities list approved for trading without going through the procedure of listing. The shares got the trading code in the system of MRKR trading.

On April 7, 2008 they began the trading of shares of “Interregional Distribution Grid Company of Centre and Volga Region”, Joint-Stock Company (IDGC of Centre and Volga Region, JSC) at the leading trading floors - Open Joint Stock Company “Russian Trading System” Stock Exchange and Closed Joint Stock Company “Moscow Interbank Currency Exchange”.

Since July 1, 2008 IDGC Holding, JSC has in the possession the majority interest of IDGC of Centre and Volga Region, JSC.

IDGC Holding, JSC got the shares in the interregional distribution grid companies which earlier belonged to JSC “RAO UES of Russia”. The structure of joint stock capital of JSC “RAO UES of Russia” terminated its activity as a result of reorganization: 52% of shares belong to the state, 48% to the minority shareholders.

On August 5, 2008 MICEX witnessed the merger of the major and additional issue of securities of IDGC of Centre and Volga Region, JSC. Since this day the shares of IDGC of Centre and Volga Region, JSC (112,697,817,043 pieces) sell at MICEX stock exchange with the unified trading code MRKR.