Aurora Russia : Disposal of Unistream - RNS 8511J

22 December 2015

Aurora Russia Limited ('Aurora Russia' or the 'Company')

Disposal of Unistream

The Company announces that it has entered into sale arrangements relating to its one residual investment, a minority interest in Unistream Commercial Bank (SC). The Company expects total proceeds of USD 4.975 million in cash. It is intended that the sale process will be completed by no later than 31 December 2015 (the 'Completion Date').

In accordance with the statement accompanying the recent notice of the Company's AGM, the Board intends as soon as reasonably practicable following the Completion Date to convene an extraordinary general meeting (the 'EGM') to consider proposals to include, inter alia, measures to facilitate the distribution to Shareholders of substantially all of the Company's net realised cash, in a cost effective, tax efficient and timely manner.

The Board currently intends to effect the distribution of cash by placing the Company into a members' voluntary liquidation (the 'Liquidation') and it is estimated that approximately GBP 4.5 million would be available to fund an initial distribution to Shareholders under the Liquidation, from which the liquidators would be expected to hold back a modest liquidation reserve. However, the Board reserves the right to put forward a proposal other than the Liquidation in order to secure an enhanced return for the Company's shareholders, for example through a corporate transaction to raise value from the Company as an AIM-traded shell, but only if the distribution of substantially all of the Company's net realised cash is effective by no later than 31 March 2016.

Enquiries:

Aurora Russia Limited
Gilbert Chalk	[phone]

Numis Securities Limited	[phone]
Nominated Adviser: Hugh Jonathan / Corporate Broking: Nathan Brown