SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM U-57
AMENDMENT NO. 1 TO
NOTIFICATION OF FOREIGN UTILITY COMPANY STATUS
Filed under section 33(a) of the
Public Utility Holding Company Act of 1935, as amended
Aktsiaselts Narva Elektrivork
(Name of foreign utility company)
Cinergy Corp.
(Name of filing company, if filed on behalf of a foreign utility company)
The Commission is requested to mail copies of all communications relating
to this Notification to:
Cheryl M. Foley
David L. Wozny
Cinergy Corp.
139 East Fourth Street
Cincinnati, Ohio 45202
On January 19, 1999, Cinergy Corp. ("Cinergy"), a Delaware corporation
and a registered holding company under the Public Utility Holding Company
Act of 1935, as amended, filed a Form U-57 notification of foreign utility
company ("FUCO") status on behalf of Aktsiaselts Narva Elektrivork ("Narva
Electric"), a corporation organized under the laws of the Republic of
Estonia. Cinergy now files this Amendment to such Form U-57 to reflect
Cinergy's increased ownership in Narva Electric, resulting from the
completion of the Republic of Estonia's privatization of Narva Electric.
As so amended, the notification reads as follows:
Item 1. Name of entity claiming FUCO status, its business address, and a
description of the facilities used for the generation, transmission and
distribution of electric energy for sale or for the distribution at retail
of natural or manufactured gas. Identification, to the extent known, of
each person holding 5% or more of any class of voting securities of the
FUCO and description of the amount and nature of the interest.
The name of the company on whose behalf FUCO status is claimed is
Aktsiaselts Narva Elektrivork and its business address is Kerese 11, Narva
EE2000, Estonia.
Narva Electric owns and uses facilities for the distribution and sale
at retail of electrical power in northeastern Estonia, including the cities
of Narva, Narva-Joesuu and Sillamae and Vaivara parish. The facilities
include approximately 296 substations of different voltage and capacity
characteristics, and a distribution network of voltages up to 110kV over an
area of approximately 610 square km. The current maximum system demand is
61 megawatts.
Narva Electric has an issued share capital of 84,313,700 Estonian
Crowns (EEK), of which 843,137 shares with a nominal value of one hundred
(100) EEK each are issued and fully paid (representing the entire voting
securities of Narva Electric).
Startekor Investeeringute OU (a corporation organized under the laws
of the Republic of Estonia) holds one hundred percent (100%) of the issued
share capital of Narva Electric (49% of which was purchased on November 9,
1998 and the remaining 51% of which was purchased on May 5, 1999).
Cinergy 1 B.V., a company incorporated in the Netherlands and an
indirect wholly-owned subsidiary of Cinergy, acquired, effective November
9, 1998, a sixty-seven percent (67%) holding in the share capital of
Startekor Investeeringute OU (representing sixty-seven percent (67%) of the
voting securities of Startekor Investeeringute OU). Cinergy 1 B.V.
accordingly has an indirect sixty-seven percent (67%) equity interest in
the outstanding share capital of Narva Electric.
AS Sthenos Grupp, a company incorporated in the Republic of Estonia,
holds the remaining thirty-three percent (33%) interest in the share
capital of Startekor Investeeringute OU (representing thirty-three percent
(33%) of the voting securities of Startekor Investeeringute OU). AS
Sthenos Grupp, accordingly has an indirect thirty-three percent (33%)
equity interest in the outstanding share capital of Narva Electric.
Item 2. Name of any domestic associate public utility company and, if
applicable, its holding company, and description of the relationship
between the FUCO and such company, and the purchase price paid by any
domestic associate public utility company for its interest in the FUCO.
The following domestic public utility companies, each of which is a
direct or indirect wholly-owned subsidiary of Cinergy, are associate
companies of Narva Electric: The Cincinnati Gas & Electric Company
("CG&E"), PSI Energy, Inc., The Union Light, Heat and Power Company
("Union"), Lawrenceburg Gas Company ("Lawrenceburg"), The West Harrison Gas
and Electric Company ("West Harrison") and Miami Power Corporation
("Miami"). Union, Lawrenceburg, West Harrison and Miami are all direct
wholly-owned subsidiaries of CG&E.
None of the foregoing domestic public utility companies has made an
investment in or has any contractual relationship with Narva Electric, nor
is any such investment or contractual relationship contemplated.
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SIGNATURE
The undersigned company has duly caused this statement to be signed on
its behalf by the undersigned officer, duly authorized as of the date
indicated below:
CINERGY CORP.
By: /s/William L. Sheafer
Vice President & Treasurer
Dated: July 20, 1999
