PES-Energougol Included in SCM_BG Index

After serving one-month on a watch list period following its listing on the PFTS, PES-Energougol (ENUG: SELL) is included into our SCM_BG Index, effective today. According to the Ukrainian Securities and Exchange Commission, 66.5% of shares are held by DTEK Holdings Ltd and 24.6% by DTEK LLC, both of which are controlled by SCM. In terms of its regulatory environment and volume of electricity supplied, Energougol is comparable to Oblenergos.