29 Oct 2014 07:23
Federal Grid Announces Management Board Changes
Moscow, 29 October 2014 - FederalGrid Company of Unified EnergySystem ("Federal Grid Company" or "theCompany") (Moscow Exchange,LSE: FEES), part of the Russian Grids Group of companies and operator of Russia's Unified National Energy Grid ("UNEG"), announces that on 24 October 2014 its Board of Directors approved changes to the composition of its Management Board.
The Board of Directors approved the dismissal of the following Management Board members:
1) Leonid Mazo, member of the Management Board;
2) Valery Sedunov, member of the Management Board;
3) Vladimir Shukshin, member of the Management Board.
The Board of Directors also approved the appointment of the following Management Board members:
1) Alexander Vasiliev, Deputy Chairman of the Management Board;
2) Alexander Zaragatsky, Deputy Chairman of the Management Board;
3) Nikolai Pozdnyakov, Deputy Chairman of the Management Board.
Biographies of the newly appointed members of the Management Board will be published on the Federal Grid Company website in the near future.
Enquiries:
Analysts / investors | ||
Office | ||
Egor Toropov | +7 (495) 710 9333 ext. 2275 | |
Alexey Novikov | +7 (495) 710 9333 ext. 2143 | |
International media | ||
ЕМ | Office | Mobile |
Tom Blackwell | +7 (495) 363 2841 | +7 (919) 102 9064 |
Sam VanDerlip | +44 20 3709 5714 | +44 7554 993 032 |
AboutFederal Grid Company
Federal Grid Companyis part of OJSC RussianGrids is the operatorand manager of Russia'sunified electricity transmission grid system. The company operates over 135.1 thousand km of transmission lines and has over 331.7 MVA of installedtransformer capacity.Based on the length of transmission lines and transformer capacityin place, Federal Grid is the largest publiclytraded electricity transmission companyin the world.
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 in 75 regions of Russia, coveringa territory of 14.8 millionsquare kilometres. Its customers are regional distribution companies, electricity suppliers and large industrial enterprises. The Company is a natural monopolywith 80.13% stake controlled by RussianGrids.
Federal Grid Company was incorporated in June 2002 as part of reorganisation of Russia's electrical power industry.
Federal Grid Company's common sharesare included on Moscow Exchangeunder the ticker FEES and the Company'sGDRs are listedon the London Stock Exchange and traded under the same FEES symbol.
In the first half of 2014 the Company's IFRS consolidated revenue was RUB 85,360 million,while adjusted EBITDA was RUB 49,892million, and adjustedprofit for the period was RUB 19,379million.
Further information can be found at www.federal-grid.com
Further information about RussianGrids can be found at www.rugrids.ru/eng