UEN Urals EN.

 

TIDMUEN 
 
RNS Number : 2128W 
Urals Energy Public Company Limited 
24 July 2009 
 

Urals Energy Public Company Limited 
 
 
("Urals Energy" or the "Company") 
 
 
 
 
Update on Sberbank negotiations and Annual accounts 
 
 
 
 
Sberbank Negotiations 
 
 
Further to the update of 30 June 2009, Urals Energy today announces the 
divestiture of Urals' ownership interests in Dulisma and Taas Yuriakh to 
Sberbank is progressing. Major terms of the divestiture have been agreed with 
Sberbank and completion is now subject to regulatory clearances and certain 
third party actions. 
 
 
The Company has agreed with Limentis Holdings Limited ("Limentis"), a subsidiary 
of certain investment funds managed by Ashmore Investment Management Limited, 
that Limentis will not exercise its Put Option before the Sberbank loan 
restructuring is complete; and will, on completion of the Sberbank loan 
restructuring, agree and execute documentation with Urals Energy with a view to 
terminating the Put Option. 
 
 
 
 
Financing, NOMAD and Annual Report 
 
 
Separately from the aforementioned divestiture transaction, Urals Energy 
continues to evaluate a number of funding options to alleviate current liquidity 
constraints. The Company is working towards the publication of Annual Accounts 
which will be announced following the completion of the Sberbank Transaction and 
securing of the funding mentioned above. Also the Company will work toward the 
appointment of a new Nominated Adviser when the Annual Accounts are issued. 
 
 
Further announcements will be made in due course. 
 
 
24 July, 2009 
 
 
Enquiries: 
Pelham                                      +44(0)20 7337 1500 
Mark Antelme 
Evgeniy Chuikov 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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