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3/16/2011 9:40:02 AM
State Corporation RUSNANO Reorganized as Open Joint-Stock Company

The Russian Corporation of Nanotechnologies has become the first state corporation to complete reorganization. It was reregistered on March 11, 2011, as open joint-stock company RUSNANO.

One hundred percent of the shares in RUSNANO have become the property of the government. At this moment, the Board of Directors and the Auditing Commission have been formed; the chairman of the Executive Board has been appointed—Anatoly Chubais. During its first meeting, planned for late March 2011, the Board of Directors of RUSNANO will form the Executive Board of the company.

Open joint stock company RUSNANO has assumed all rights and responsibilities of the Russian Corporation of Nanotechnologies under the principle of universal succession. The company will continue to realize government policies in nanotechnology, particularly supporting commercialization of scientific developments in the nanoindustry. The Fund for Infrastructure and Educational Programs, a non-commercial fund established in accordance with federal law ? 211-FZ On Reorganization of the Russian Corporation of Nanotechnologies, will perform the charge the state corporation held to create innovative infrastructure for nanotechnology’s growth and educational programs to meet the nanoindustry’s future needs.

Changes in the status and structure of RUSNANO will enable the company to work more dynamically and effectively, to focus its activities squarely on the achievement of business results, and the fund—to create infrastructure for the nanoindustry.

“We are not just changing our signboard,” said the chairman of the Executive Board of RUSNANO, Anatoly Chubais. “Reorganization as an open joint-stock company is a transition to the greater transparency and responsibility that characterizes this organizational form. We are moving to a different plane of collaboration with the business and science communities. And that will be reflected in new high-technology projects in the Russian nanoindustry.”

Other Headlines from Russian Corporation of Nanotechnologies (RCNT) ...
 - Crocus Technology Strikes $300 Million Financing Deal with RUSNANO to Build Advanced MRAM Manufacturing Facility in Russia
 - RUSNANO and Perm Krai Choose German Nanostart AG to Manage 50-Million Euro Fund
 - Nanostart Launches Nanotechnology Fund in Russia
 - Nanostart portfolio company ItN Nanovation: Rusnano plans equity investment as part of a capital increase
 - RUSNANO Co-investment Helps Launch Russian Production-Research Lab from American Innovation company BiOptix

More Investment Headlines ...
 - 3M Invests in GoNano Technologies Inc.
 - Nanostart Launches Nanotechnology Fund in Russia
 - Ultratech Announces First Quarter 2011 Results
 - BioNanomatrix Secures $23.3 Million in Series B Financing
 - Ener1 Completes $25-Million Capital Raise

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