Monday, 3 November 2014

Share Capital

5.1. The authorized capital of the Company shall determine the minimum size of the Company's

assets to guarantee the interests of its creditors, and is 100 000 (one hundred thousand) rubles.

5.2. The authorized capital of the Company is divided into one thousand (1,000) shares of

outstanding ordinary shares with a nominal value of 100 (one hundred) rubles each.

All outstanding shares of the Company are registered and undocumented.

5.3. At the time of establishment of the Company, its authorized capital as follows:

- Closed Joint Stock Company "Hydropower Company" owns 900 (nine hundred) ordinary shares

with a nominal value of 100 (one hundred) rubles each, representing 90% of the share capital;

- Municipal Unitary Enterprise Community Education Kovylkino "Kovylkinsky urban network"

belongs to one hundred (100) ordinary shares with a nominal value of 100 (one hundred) rubles

each, representing 10% of the share capital.

  The founders of the Company to pay all of the shares of the Company at its facility at nominal

cost.

Payment for the shares of the Company in accordance with the agreement of the founders made in

cash (rubles).

Within three months from the date of state registration of the Company, each of the founders

(shareholders) must pay in full at least half of its shares in the Company.

All shares of the Company distributed at its establishment must be fully paid by the founders of the

Company within one year from the date of state registration of the Company.

5.4. Not be released from the obligation to pay the shareholder shares, including exemption from

this obligation by offsetting claims against the Company.

5.5. The order of changes in equity, and the procedure for the transfer of its shares to the

shareholders to third parties by the Statutes, the applicable law and decisions of the General

Meeting of Shareholders.

5.6. The Company may issue preference shares. After deciding on the issue and placement

of preferred shares the Company is obliged to make appropriate changes in their founding

documents.

5.7. The Company may issue bonds and other securities, provided by legislation of the Russian

Federation on securities at the end of the process of establishment and registration of a company

may be a decision on additional issue of shares for distribution among the Founders, and

a predetermined group of individuals who are equal shareholders of the Company after the

acquisition of the shares, which shall be held a general meeting and ordered, a quorum of at

least two-thirds of the voting shares, as voted on a decision on approval of transactions in cases

provided for in Chapter IX, X of the Federal Law "On Joint Stock Companies".

5.8. The founders shall be jointly and severally liable for obligations arising prior to the registration

of the Company. The Company is liable for the obligations of the founders connected with its

creation, only in the event of subsequent approval of their actions by the General Meeting of

Shareholders.

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