Geography

IDGC Holding Decreases Its Ratio of Underlying Shares to Depositary Receipts

20.07.2011

IDGC Holding has changed the ratio of depositary receipts to local shares. Instead of one receipt to 400 shares, 200 local shares in the Company will be deposited for the issue of one depositary receipt as of July 27, 2011.

The change applies to the securities involved in all of IDGC Holding’s existing depositary receipt programs.

The new ratio decreases the market value of one depositary receipt, making it a more convenient instrument for a wide range of investors and thus facilitating conditions for the better liquidity of the Company’s depositary receipts.

The change in the ratio will not require that depositary receipt holders act accordingly. The depositary bank will charge them no issue fee in connection with the changed ratio.

For information:

Currently, IDGC Holding has four depositary receipt programs: Rule 144A and Reg S programs with ordinary and preference shares as the underlying asset.

The depositary bank for the depositary receipt programs is The Bank of New York Mellon.

In May 2011, IDGC Holding received from the Federal Financial Markets Service of the Russian Federation permission to have 10,158,010,396 ordinary shares and 518,137,346 preference shares traded outside the Russian Federation, which account for about 24% and 25% of the total number of its ordinary and preference shares respectively.

The depositary receipts representing IDGC Holding’s shares are traded in the OTC market. The Company plans to apply for a technical listing of its depositary receipts on the London Stock Exchange without a public offering. 


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