At today’s session, the Armenian government approved the draft decision on Inter RAO Holding B.V.’s request to the Armenian government on selling 100% shares of Electric Networks of Armenia CJSC to Liormand Holdings Limited.

The government gave 3 days to the Ministries of Energy and Natural Resources, Justice, Finance and Economy of Armenia to edit the draft decision.

At the same time, the government has assigned the above mentioned ministries to study compliance of Liormand Holdings Limited to the criteria of the competition, negotiate and work out a draft contract under which Liormand Holdings Limited will fully undertake the obligations within the agreement on sales of shares of ENA CJSC signed between the Armenian government and Midland Resources Holding Limited on August 26, 2002.

Liormand Holdings Limited has been registered in Cyprus since November 30, 2010.