Electricity Tariffs

Published Tuesday 22nd, September 2009.
Article Category: Announcements
Summary
Article Content
(Andes or the Company)
Electricity tariffs Andes (AIM: AEN), the Latin American energy group, is pleased to announce that EDEMSA, the group’s electricity distribution business, has now completed the process for the implementation of the first new tariffs for the third review period. This follows the approval of the procedure for the calculation of the new tariffs, which was announced on 12 August 2009. The new electricity tariffs will result in an average increase of between 0% and 15% for residential users and between 12% and 22% for commercial users, representing an average total increase of approximately 12%, which will be effective retrospectively from 1 August 2009. As announced on 21 February 2008, the terms for the acquisition of the final 50 per cent. indirect interest in Sodem S.A. included the possibility of an earn-out payment. The approval of the procedure for the calculation of the new tariffs might crystallise this earn-out payment, which may be satisfied in cash and/or through the issue of new Company shares. However, under the terms of the stock purchase agreement, certain elements of the earn-out are still open to interpretation and are being agreed with the seller. A further announcement will be made once the timing and the amount of the earn-out payment, if any is due, have been established. Neil Bleasdale, Chairman of Andes, stated, “We are pleased that the Government has approved this tariff increase and we hope that further tariff adjustments already established for the third tariff review period will also become effective. This will allow us to continue to satisfy our debt, working capital and investment obligations.”

Andes trading of ADRs
Published Monday 7th, September 2009.
Article Category: Announcements
SummaryThe Board of Andes is pleased to announce that it has established a Sponsored Level 1 American Depositary Receipt.
Article Content
Andes Energia plc
(Andes or the Company)

Andes trading of ADRs

The Board of Andes (AIM: AEN), the Latin American energy group, is pleased to announce that it has established a Sponsored Level 1 American Depositary Receipt (ADR) program with BNY Mellon as the ADR depositary bank, with each ADR representing 50 ordinary shares listed on the AIM market. The ADRs will trade on the OTC market in the US under CUSIP number 034196105. Andes\\\’s ordinary shares will continue to trade on AIM.

“We created the ADR program to broaden our existing shareholder base and increase the Company\’s visibility with investors in the US,\” said Luis Alvarez Poli, Chief Executive Officer of Andes. “Our ADR facility will provide US investors with an easier way to participate in Andes\’s future performance. ”

For further information please contact:
Andes Energia plc
Luis Alvarez Poli, CEO
Nigel Duxbury, FD
T: 020 7495 5326
Arbuthnot Securities
James Steel
Antonio Bossi
T: 020 7012 2000
Bishopsgate Communications
Nick Rome
Michael Kinirons
T: 020 7562 3350