UEN Urals EN.

RNS Number:9968V
Urals Energy Public Company Limited
21 December 2005


FOR IMMEDIATE RELEASE:

21 December 2005


                      Urals Energy Public Company Limited
                    Financing Update and Shareholder Meeting


Subordinated Loan Signed

Urals Energy Public Company Limited (the "Company") announces that on December
19, 2005 it signed a five year $12 million subordinated  loan agreement with BNP
Paribas. This financing transaction is expected to close in mid-January.  The
loan is a general corporate obligation following the $100 million BNP Paribas
revolving senior loan facility announced on 15 November. The loan pays quarterly
interest at a rate of LIBOR plus 500 basis points.

As part of the loan terms, the Company has agreed to issue to BNP Paribas
non-tradable warrants  to purchase up to 2 million shares in the Company over a
five year period ending on 10 November 2010.  The warrants are priced at 303.37
pence, a 20% premium to the Company's volume weighted price between November 18
and December 15.

Shareholder Meeting

The issuance of warrants to BNP Paribas is subject to the approval of the
Company's shareholders at an Extraordinary General Meeting (the "EGM") to be
held on January 16, 2005.

At the EGM, the Company will also seek approval to increase its authorized share
capital and the authority to issue shares on a non pre-emptive basis in certain
circumstances.

A proxy statement detailing the resolutions to be put to the meeting will be
sent to all shareholders of record as of 20 December 2005.


Dinyu Financial Information

Further to the Company's announcement of the closing of the acquisition of OOO
Dinyu on 15 November, management has assessed that for the period ended 30 June
2005 Dinyu would have contributed approximately $12.6 million in gross revenues,
$10.0 million in net revenues and $3.4 million in EBITDA, all on a consolidated
IFRS basis.  More financial information related to Dinyu will be provided at the
time of the Company's release of its 2005 audited annual report in March 2006.


                                     -ends-


Pelham PR
James Henderson                                                    020 7743 6673
Gavin Davis                                                        020 7743 6677



                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

MSCPKKKQOBDDPBB

Urals Energy (LSE:UEN)
Historical Stock Chart
From Jun 2024 to Jul 2024

Urals Energy (LSE:UEN)
Historical Stock Chart
From Jul 2023 to Jul 2024