Russia 110503 Basic Political Developments
Business, Energy or Environmental regulations or discussions
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- RusHydro Agrees With China State Grid to Seek Hydro, Renewables Projects
- Federal Grid Gains First Day in Four After Posting 2010 Profit
- Russias FSK adjusted net profit up 63 pct in 2010
- Polymetal Slides 1st Day in 3 After Silver Drops Most Since 2008
- Petropavlovsk board seeks mandate to raise borrowing limit to $1.5 bln
Business, Energy or Environmental regulations or discussionsSeverstal, Rosneft and Lukoil: Russian Stock Market Previewhttp://www.bloomberg.com/news/2011-05-02/severstal-rosneft-and-lukoil-russian-stock-market-preview.html By Stephen Bierman - May 2, 2011 10:00 PM GMT+0200 The following companies may be active in Russian trading. Stock symbols are in parentheses and share prices are from the previous close of trading in Moscow. The 30-stock Micex Index lost 0.5 percent to 1,741.84. OAO Severstal (CHMF RX): Russia’s largest steelmaker temporarily shut a plant in Mississippi after severe weather led to a power outage. Severstal gained 0.7 percent to 502.40 rubles. OAO Rosneft (ROSN RX): Brent crude prices dropped the most in almost seven weeks after U.S. operatives killed Al-Qaeda leader Osama bin Laden. Russia’s largest oil producer fell 1 percent to 244.19 rubles. OAO Lukoil (LKOH RX): Russia’s second-largest oil producer acquired a 50 percent stake in a Vietnamese offshore block that may hold over 180 million metric tons of oil equivalent. Lukoil fell 0.6 percent to 1,893.40 rubles. To contact the reporter on this story: Stephen Bierman in Moscow sbierman1@bloomberg.net. To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net. RusHydro Agrees With China State Grid to Seek Hydro, Renewables Projectshttp://www.bloomberg.com/news/2011-05-03/rushydro-agrees-with-china-state-grid-to-seek-hydro-renewables-projects.html By Torrey Clark - May 3, 2011 8:15 AM GMT+0200 OAO RusHydro, Russia’s largest producer of renewable energy, signed an agreement with China State Grid Corp. on possible hydropower and alternative energy projects, including investments in shares and construction, the Moscow-based company said in a regulatory filing. To contact the editor responsible for this story: Torrey Clark at tclark8@bloomberg.net
Federal Grid Co. gained for the first day in four after the Russian monopoly for high-voltage transmission swung to a profit of 18.4 billion rubles ($672 million) last year. The stock gained 1.4 percent to 36.7 kopeks by 10:47 a.m. in Moscow. Net income adjusted for impairment charges and asset revaluation increased 63 percent to 27.9 billion rubles, the company said today in a statement. To contact the editor responsible for this story: Gavin Serkin
MOSCOW, May 3 (Reuters) - Russian power grid company FSK (FEES.MM: Quote, Profile, Research, Stock Buzz) (FEESq.L: Quote, Profile, Research, Stock Buzz) said on Tuesday its adjusted net profit rose 62.6 percent in 2010 to 27.9 billion roubles ($1.02 billion). Revenue increased 29.4 percent to 113.33 billion roubles, and adjusted earnings before interest, taxation, depreciation and amortisation rose by 58.9 percent to 67.7 billion roubles. Adjusted figures do not include impairment, revaluation of fixed assets and other non-cash items. (Reporting by Anastasia Lyrchikova; writing by Maria Kiselyova; editing by Andrey Ostroukh) ($1=27.40 Rouble) Polymetal Slides 1st Day in 3 After Silver Drops Most Since 2008http://www.bloomberg.com/news/2011-05-03/polymetal-slides-1st-day-in-3-after-silver-drops-most-since-2008.html By Jason Corcoran - May 3, 2011 10:21 AM GMT+0200 OAO Polymetal, the Russian silver producer, slipped for the first day in three after futures on the metal plunged by the most yesterday since October 2008. Polymetal, which also produces gold, dropped 2.2 percent to 527.7 rubles by 12:05 p.m. in Moscow, poised for the steepest decline in more than a week. Silver futures plunged as much as 13 percent yesterday as CME Group Inc. raised the amount of cash that traders must deposit to trade. The metal rose 2.5 percent to $44.9063 an ounce today, still trading below the April 29 close of $47.9050. The Russian stock market was closed yesterday for a public holiday. To contact the reporter on this story: Jason Corcoran in Moscow at jcorcoran13@bloomberg.net To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net May 03, 2011 11:31
MOSCOW. May 3 (Interfax) - Directors at gold miner Petropavlovsk plc will ask shareholders at their AGM to sanction an increase in the borrowing limit to $1.5 billion from $700 million, the company says in materials for the AGM. "The Directors believe that it would be prudent to request such a sanction by ordinary resolution to vary this restriction. The existing limit is no longer considered appropriate given the Group's development and expansion as well as its anticipated expenditure," the company said. As at December 31, 2010, the Group's total borrowings were $492.1 million, compared with $95.5 million at the end of 2009. "In addition to the normal level of borrowing, the maximum amount would need to allow sufficient flexibility to provide normal liquidity headroom," the company said. It also said permission would be sought to issue new shares representing up to 66% of current issued share capital and to buy back up to 5%. Directors would have authority to allot shares up to an aggregate nominal amount of a maximum of 619,938 pounds sterling, or approximately 33% of the current issued ordinary share capital; and an additional number of ordinary shares up to an aggregate nominal amount of a maximum of 619,938, pounds, or a further 33% of the current issued ordinary share capital, but only for the purposes of a rights issue in which the new shares are offered to existing shareholders in proportion to their existing shareholdings. As a result, the directors could allot shares representing up to two-thirds of the current issued share capital pursuant to a rights issue. However, if the Directors do conduct a rights issue and the number of shares issued exceeds one-third of the issued share capital and the monetary proceeds from the rights issue exceed one-third of the Company's pre-issue market capitalisation, then, in accordance with the ABI's guidance, the Directors will all offer themselves for re-election at the Annual General Meeting following the decision to make the rights issue. "The Directors will continue to seek to renew these authorities at each AGM, in accordance with current best practice. The Directors have no current plans to allot shares, except in connection with the Company's employee share schemes," Petropavlovsk said. In the event of a share issue, the directors are also requesting the right to sell outside shareholders shares, without a rights offer, with a nominal value of up to 93,930 pounds or 5% of current issued share capital. In addition, the board is asking for a mandate to buy up to 9,393,000 ordinary shares or 5% of issued capital on the LSE with the opportunity to hold these shares in treasury or cancel them. "The Board has no present intention of exercising this power and the granting of this authority should not be taken to imply that any Ordinary Shares will be purchased. It is the intention of the Directors only to exercise such authority if satisfied that to do so would be in the best interests of the Company," the statement said. Petropavlovsk plc was set up through a merger between gold producer Peter Hambro Mining plc and minerals company Aricom plc in April 2009. The merger created one of the leading mining companies in Russia's Far East. Petropavlovsk spun the iron ore division off in the autumn of 2010. Pr (Our editorial staff can be reached at eng.editors@interfax.ru) Directory: gifiles -> attach attach -> British Forces – Akrioti, Greece Griffin Fighter Squadron (84 Squadron raf) MoD announced possible Typhoon and Tornado arrivals to the base France attach -> Russia 110204 Basic Political Developments attach -> Unclassified//for official use only attach -> Adaptability Sustainment attach -> Pop-up 1 ("C" Chechnya) Header Text: Emir of the Caucasus Emirate Doku Umarov Image attach -> Russia and Islam are not Separate attach -> Chapter 13: The Northern Caucasus attach -> Russia 100209 Basic Political Developments attach -> The evolution attach -> The devolution Download 212.12 Kb. Share with your friends:
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