Financial report / Explanations and comments on the Balance Sheet
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Share capital

Number of shares authorised and issued Number of treasury shares Number of shares outstanding
Ordinary shares of one Russian rouble each:
As at 31 December 2011 1,110,616,299 (70,395,087) 1,040,221,212
As at 31 December 2012 1,110,616,299 (62,814,444) 1,047,801,855

Ordinary shareholders are entitled to one vote per share.

During 2012 the number of treasury shares held by the Group decreased by 7,580,643.

The Company’s shares are listed on the Russian Trade System (“RTS”) and the Moscow Interbank Currency Exchange (“MICEX”) and on 31 December 2012 were traded at USD 1.49 per share. On 17 April 2013 were traded at USD 1.59 per share.

The Company launched a Level 1 Global Depositary Receipts (GDR’s) programme in December 2000. The Company signed a depositary agreement with Deutsche Bank Group, allowing the Company’s shareholders to swap their shares for GDR’s, which trade over-the-counter on US and European markets. The swap ratio was established at 100 shares per GDR. In accordance with the depositary agreement the total volume of the GDR’s of the Company cannot exceed 20% of the Company’s share capital. In 2001 the Company’s GDR’s were listed on the New Europe Exchange (“NEWEX”) in Vienna and after closing of this stock exchange the GDR’s were transferred to the third segment of the stock exchange in Frankfurt. On 31 December 2012 and 17 April 2013 the GDR’s were traded at USD 146.94 and USD 152.97 each, respectively.

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