RN Holding Board Approves Share Sale to Rosneft

RN Holding (hereinafter – the Company) announced that the Company’s Board of Directors decided on November 14, 2013 to recommend the Company’s shareholders to accept the voluntary offer of Rosneft as of October 18, 2013 to acquire ordinary and preferred shares of the Company (hereinafter – the Voluntary Offer), Rosneft Press Office reported on November 15.

The Company received the Voluntary Offer from Rosneft on November 06, 2013 after the expiry of the statutory period for considering of the Voluntary Offer by the Service for Financial Markets of the Bank of Russia.

Under the Voluntary Offer, Rosneft plans to buy out 1,918,701,184 ordinary and 450,000,000 preferred shares of the Company.

Under the Voluntary Offer, price of RN Holding equity acquisition is set at RUR 67 per 1 (one) ordinary share and RUR 55 per 1(one) preferred share.

The Voluntary Offer shall be accepted within 75 days from the date it is received by the Company (by January 20, 2014).

Source: Rosneft Press Office, 2013