1 Jun 2015 09:22
Federal Grid Company AGM Agenda and FY 2014 Dividend Recommendations
Moscow, 01 June 2015 - Federal Grid Company of Unified Energy System ("Federal Grid Company"or "the Company") (Moscow Exchange, LSE: FEES), operator of Russia's Unified National Electric Grid ("UNEG"), announces that its Board of Directors has recommended that shareholders at the Company's annual general meeting ("AGM") approve a 2014 dividend of RUB 847.383 million (RUB 0.0006647883 per ordinary share (or equal to RUB 0.33239415 per GDR)). The record date was set as 16 July 2015.
The Board of Directors approved the following agenda for the AGM:
1) Approval of the Company's annual report and regulatory accounts, as well as distribution of profit (including payment of dividends) and losses for the 2014 financial year;
2) Remuneration to members of the Board of Directors;
3) Election of members to Company's Board of Directors;
4) Election of members to the Company's Audit Commission;
5) Approval of the Company's independent auditor;
6) Approval of a new edition of the Charter;
7) Approval of internal corporate documents governing the activities of the bodies of the Company;
8) Approval of Regulations on remuneration and compensation to members of the Board of Directors;
9) Approval of a new edition of Regulations on remuneration and compensation to members of the Audit Commission;
10) Approval of a related-party transaction for insurance covering the liability of members of the Board of Directors, members of the Management Board, the Chairman of the Management Board, the Deputy Chairmen of the Management Board and the Chief Accountant of Federal Grid Company;
11) Approval of related-party transactions that could be carried out by the Company in the future in the normal course of business.
The materials will also be available at the AGM and on the Federal Grid Company website: www.federal-grid.com.
The record date for shareholders entitled to participate in the AGM is 12 May 2015.
The Annual General Meeting (AGM) will take place at 11:00 (Moscow time) on 26 June 2015 in Moscow at "R&D Center "FGC UES", JSC, 22 Kashirskoe shosse, bldg. 3, 2nd stage. Registration will be open at 09:30 am (Moscow time).
Analyst/Investor enquiries: |
Office phone | ||
Egor Toropov | +7 (495) 710 9333 ext. 2275 | |
Aleksey Novikov | +7 (495) 710 9333 ext. 2143 | |
International Media enquiries Sam Vanderlip Tom Kiehn
|
+44 7554 993 032 +7 (916) 444 0930 |
Company profile
Federal Grid Company is part of OJSC Russian Grids is the operator and manager of Russia's unified electricity transmission grid system. The company operates over 138.8 thousand km of transmission lines and has over 332.1 MVA of installed transformer capacity.
Federal Grid's business is to provide electricity transmission and technological connection services.It maintains and develops the grid system and supervises grid facilities and infrastructure in77 regions of Russia, covering a territory of 15.09 million square kilometres. Its customers are regional distribution companies, electricity suppliers and large industrial enterprises. The Company is a natural monopoly with 80.13% stake controlled by Russian Grids.
Federal Grid Company was incorporated in June 2002 as part of reorganisation of Russia's power sector.
In 2014 the Company's IFRS consolidated revenue was RUB 173,353 million, while adjusted EBITDA was RUB 107,685 million, and adjusted profit for the period was RUB 40,848 million.
Ordinary shares of Federal Grid Company are included in the MICEX quotation list under FEES ticker; Company's GDRs are quoted at the London Stock Exchange under the same ticker.
For further info, please visit www.federal-grid.com. For further info about Russian Grids JSC, please visit www.rugrids.ru