The arbitration appeal court once again supported the ONEXIM’s position

On April 20, 2009 the Ninth arbitration appeal court dismissed the appeal of Halcyon Power Investment Company Limited for the decision of the Arbitration court of Moscow dated 17 February 2009, where the purchase and sale of 32 103 008 103 shares (about 1.615% of charter capital) in OJSC “TGC-4” transaction concluded based on the mandatory offer has been invalidated.

We would like to remind that similar transactions with Deutsche Bank (including in the appeal court) and Сlearstream S.A. were also invalidated. ONEXIM also reached an agreement regarding the out-of-court settlement of the situation relating to the mandatory offer with Morgan Stanley and several other shareholders of OJSC “TGC-4”.