RNS Number : 4303T
03 October 2014
The Board of Directors of Russian Railways approves the transfer of interest in TransContainer to United Transportation and Logistics Company
Further to the announcement dated 5 September 2014, JSC TransContainer ("TransContainer" or the "Company") announces that Russian Railways' Board of Directors approved the contribution of its full shareholding of 50%+2 shares in TransContainer, along with 100%-1 shares in JSC RZD Logistics, to the share capital of United Transportation and Logistics Company ("UTLC"). This decision was taken at the Board meeting on 30 September 2014, the results of which were announced on 3 October 2014.
For the purposes of this transaction, Russian Railways' stake in TransContainer has been appraised at RUB 35,148 million, a market price established by Ernst & Young in its capacity as an independent appraiser in a report dated 31 March 2014.
As a result of the transfer of interest, Russian Railways will own 39,694,000 shares in UTLC, representing at least 99.8% of UTLC's share capital. Russian Railways' shareholding in UTLC was set out in the resolution of the Russian Government dated 30 August 2014.
The Company will keep the market informed of any further developments.
3 October 2014
Tony Friend / Galyna Kulachek
+44 (0) 20 7457 2020
TransContainer (LSE ticker: TRCN) is the leading intermodal container transportation company in Russia. It is the market leader in Russia by flatcar fleet size, container transportation by rail and rail-side container terminal throughput. As of 30 June 2014, it operated 27,174 flatcars and 64,670 ISO containers. It owns a network of 46 rail-side container terminals in Russia, 19 rail-side terminals in Kazakhstan (through its joint venture company KedenTransService) and operates one terminal in Slovakia. Company's sales network comprises more than 130 sales offices across Russia as well as presence in the CIS, Europe and Asia. TransContainer is listed at Moscow Exchange and LSE. Company's major shareholder is JSC Russian Railways with 50%+2 shares.
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