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RMG - Weekly, Feb 18 - 22, 2013, NEWS & OUTLOOK.

NEWS & OUTLOOK

STORIES TO WATCH

TOP BUY-SELL

MACROECONOMIC INDICATORS

(To view the full report please click here:

http://reports.aiidatapro.com/brokers/RMGEn/wk912ENG.pdf)

NEWS OF THE PREVIOUS WEEK

18.02.13

PIKK RX (PIK LI)

PIK provided answers to most concerning questions at Analyst Day, including margin improvement, potential deleveraging and SPO prospects. See more on that in our recent desknote PIK: Inspiring Promises at Analyst Day.

ROST RX

Rosinter reported weak sales dynamics for 4Q and only 2.6% revenue growth for FY2012. LFL sales in 2012 decreased by 1.9%.

20.02.13

SODD RU, SODDP RU

The BoD of Soda recommended paying R55.50 ($1.84 at current rate) per both common and preferred shares as a FY2012 dividend.

APAT RU, APATP RU, PHOR RX

Phosagro BoD decided to buy out the remaining shares of Apatit. Phosagro holds 95.95% interest in its subsidiary.

ARMD RX

Armada reported neutral FY12 preliminary results. The BoD will probably consider share buyback by end of 1Q13. Armada has R1b ($32m) net cash position, which amounts to roughly 30% of current market capitalization.

21.02.13

TRCN RX (TRCN LI)

The BoD of Transcontainer approved new dividend policy and recommended allocating 25% of net income under RAS for dividend payments.

Also the BoD called an EGM for May 14 to reappoint itself. EGM was initiated by Summa Group (owns 24% of the company) which plans to expand its presence in the board of Transcontainer.

AFKS RX (SSA LI)

SSTL, Sistema Indian telecom subsidiary, intends to participate in the spectrum auctions starting from March 11 in select circles of the country. Previous license costs (roughly $300m) will be set off against the new auction prices.

22.02.13

SVAV RX, KMAZ RX, GAZA RX, GAZAP RX

Recycling fees for cars which were introduced in 2012 after Russia succession to WTO will have to be applied not only to imported vehicles, but for locally produced cars as well. This will negatively affect local car producers and their JVs with foreign players.

PGIL LN

Onexim Group sold a 37.8% stake in Polyus Gold Int. to two Russian entrepreneurs. The deal is priced at $3.6b, slightly lower the market. Stakes less than 20% will be obtained by each party, so minorities of the company will not get a buyback offer.

25.02.13

MSSB RX

Mosenergosbyt reported net income contraction by 3 times to R1.5b (~50m) under RAS in 2012, and 2 times less than we had expected. Therefore we lower our forecast for FY12 dividends by two times to R0.04 per share. The yield is still high at 8%.

NEWS COMING THIS WEEK

26.02.13

MAIL LI

Mail.ru will announce FY12 trading results.

SIBN RX (GAZ LI)

Gazprom Neft will publish FY2012 financials and host a conference call.

28.02.13

TNBP RX, TNBPP RX

TNK-BP International Ltd. will present FY2012 results and host a conference call.

*****

Rye, Man & Gor Securities

Copyright: Rye, Man & Gor Securities, All rights reserved.

For further Information please contact: Rye, Man & Gor Securities,

Posledniy Pereulok 17, Moscow 107045, Russia

Tel: +7 495 258 62 62, Fax: +7 495 258 62 26

Websites: http://www.rmg.ru, e-mail: research@rmg.ru
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Publication:Russian Banks and Brokers Reports
Date:Feb 25, 2013
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