RIEL Ren. Russia

TIDMRIEL

RNS Number : 7395H

Renaissance Russia Infra Equities

24 June 2013

Not for release, publication or distribution, in whole or in part, in or into or from Australia, Canada, Japan, South Africa or the United States or any other jurisdiction where such release, publication or distribution would constitute a violation of the relevant laws or regulations of such jurisdiction

24 June 2013

Renaissance Russia Infrastructure Equities Limited

("RIEL" or the "Company")

Declaration of an in specie dividend

As detailed in the circular to shareholders dated 11 October 2012 (the "Circular") and as announced on 3 June 2013, following the realisation of the majority of the Company's illiquid investments RIEL is pleased to declare an in specie dividend (the "Dividend") of units in Renaissance Russian Infrastructure Equities Fund (the "UCITS Fund") ("Units") which represents the majority of the Company's assets as at today's date.

Pursuant to the Dividend, each shareholder shall on 5 July 2013 receive 0.0389076 Units for every ordinary share held by them on the record date.

The record date for the Dividend is the close of business on 2 July 2013 with the ex-dividend date being 28 June 2013.

Following the Dividend the Company will no longer hold Units in the UCITS Fund and its assets will consist of approximately US$1.3 million in cash, shares in Mostotroy-11 valued at US$3.3 million as at 21 June2013 which the Company's Investment Manager will look to realise and a number of illiquid investments that are to be written off in full.

Winding up proposals

As a result of the dividend and as previously detailed in the Circular, the Company also announced on 3 June 2013 that the Board had resolved to seek the approval of Shareholders for proposals for a voluntary winding-up of the Company and the cancellation of the listing of the Company's shares to the Official List and to trading on the London Stock Exchange's Main Market for listed securities (the "Future Proposals").

The Future Proposals will be subject to shareholder approval and a circular will be sent to shareholders in due course. The circular will include further details on the Future Proposal and a notice convening an extraordinary general meeting to approval such Future Proposals.

Further information on the UCITS Fund

The UCITS Fund will have two dealing days per month on which Units may be subscribed for or redeemed at the net asset value per Unit (the first and fifteenth calendar day of each month).

The board of directors of Renaissance Asset Managers Global Funds, the umbrella fund of the UCITS Fund, have indicated that they will not, except in the event of severe market disruptions where it would not be possible to determine the net asset value of the Units, exercise their right to defer redemption requests received in respect of the UCITS Fund on the first dealing day immediately following the distribution of Units to shareholders pursuant to the Dividend.

Further information on the UCITS Fund is set out in the Circular and the UCITS Fund's prospectus, which are available on the Company's Investment Manager's website www.renasset.com.

Shareholders who have not completed the form sent to them by the Company on 3 June 2013, indicating how they wish to hold the Units of UCITS to be distributed to them, should complete and return the form as soon as possible. Units distributed to shareholders who have not completed and returned the form to the Company will be held by JP Morgan Bank Luxembourg SA for their benefit until the relevant information has been provided to the Company. A copy of the form is available on the Company's Investment Manager's website www.renasset.com.

Enquiries:

Renaissance Russia Infrastructure Equities Limited

   Robert Brown, Company Secretary, RIEL             +44 1481 726 081 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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