RNS Number : 0968U
27 November 2013
Preliminary approval for the transfer of Russian Railways' interest in TransContainer to United Transportation and Logistics Company
Further to the RNS announcement of 21 June 2013 JSC TransContainer ("TransContainer" or the "Company") announces that on 22 November 2013 the Board of Directors of JSC Russian Railways ("Russian Railways"), the majority shareholder of TransContainer, preliminarily approved the establishment of United Transportation and Logistics Company ("UTLC") and the contribution of Russian Railways' full shareholding of 50%+2 shares in TransContainer to the share capital of UTLC, along with 100%-1 shares in JSC RZD Logistics. JSC Kazakhstan Temir Zholy ("Kazakhstan Railways") and Belarusian Railways will also be shareholders of UTLC. This decision is subject to the further approval of the Government of the Russian Federation and the final approval of the Board of Directors of Russian Railways.
The share capital of UTLC will be distributed amongst the founding shareholders in accordance with the market value of assets contributed by a respective shareholder. In the future the three founding shareholders may have equal shareholdings in the target shareholding structure of UTLC.
Prior to the establishment of UTLC the founding shareholders are expected to enter into the shareholders' agreement governing their relations and the management of UTLC.
The Company will keep the market informed about any further developments.
27 November 2013
Andrey Zhemchugov, Director,
+7 495 637 9178
+7 495 609 6062
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Tony Friend / Alexandra Roper
+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 September 2013 it operated more than 25,600 flatcars and approximately 61,000 containers. It owns a network of 46 rail-side container terminals in Russia, 18 rail-side terminals in Kazakhstan (through its subsidiary KedenTransService) and operates one terminal in Slovakia. Company's sales network comprises approximately 140 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.
This information is provided by RNS
The company news service from the London Stock Exchange