HYDR.L Regulatory News (HYDR)

 

Results of the Board of Directors Meeting on April 29, 2020

 

PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Company's Board of Directors held a meeting in absentia on April 29, 2020.

 

Resolutions passed on Items of the agenda:

 

Item 1: On approval of the Company's internal documents:

1.1. On approval of the amended Regulation on Insider Information of RusHydro.

Resolution adopted:

To approve the amended Regulation on Insider Information of RusHydro (Schedule 1 to the Minutes).

 

1.2. On approval of the amended Regulation on the Organization of Insurance Coverage of RusHydro.

Resolution adopted:

To approve the amended Regulation on the Organization of Insurance Coverage of RusHydro (Schedule 2 to the Minutes).

 

1.3. Amendments to the Regulation on the Audit Committee of the Board of Directors of RusHydro.

Resolution adopted:

To introduce amendments to the Regulation on the Audit Committee of the Board of Directors of RusHydro approved by resolution of the Company's Board of Directors (Minutes No. 239 dated June 23, 2016) (Schedule 3 to the Minutes).

 

1.4. On approval of the amended Internal Audit Policy of RusHydro.

Resolution adopted:

To approve the amended Internal Audit Policy of RusHydro (Schedule 4 to the Minutes).

 

Item 2: On amendments to the Company's bylaws (acts) regulating the procurement of products for the needs of the Company in connection with the spread of the recent coronavirus (directive).

Resolution adopted:

To instruct Chairman of the Management Board and General Director of the Company N. G. Shulginov to ensure that by May 31, 2020, the Company's bylaws (acts) regulating the procurement of products for the needs of the Company are amended to provide for the following:

Wavier of penalties for the violation by a supplier (contractor, service provider) of its obligations under a contract in 2020 in connection with the spread of the novel coronavirus ("coronavirus") The possibility to change the time for performance of a contract and/or the contract price and/or units of goods, works, or services in 2020 if parties to a contract are unable to fulfill their obligations under the contract due to circumstances that arose in connection with the spread of coronavirus and are beyond the control of the parties to the contract

 

Item 3: On consideration of matters of significance to the Company:

3.1. On the accomplishment of the action plan for works at Zagorskaya PSHP-2.

Resolution adopted:

1. To take into consideration the interim report on the accomplishment of the action plan for works at Zagorskaya PSHP-2 (Schedule 5 to the Minutes).

To approve: The termination of works under the title "Conservation" at Zagorskaya PSHP-2 The Follow-Up Action Plan for works at Zagorskaya PSHP-2 (Schedule 6 to the Minutes) The Financing Plan for works at Zagorskaya PSHP-2 for 2020-2023 (Schedule 7 to the Minutes) To instruct Chairman of the Management Board and General Director of the Company N. G. Shulginov to ensure that the Board of Directors is informed on the progress of the Follow-Up Action Plan semiannually.

 

3.2. On approval of the report on the implementation of the RusHydro Group Innovative Development Program for 2016-2020 with an outlook for 2025 in 2019.

Resolution adopted:

To approve the report on the implementation of the RusHydro Group Innovative Development Program for 2016-2020 with an outlook for 2025 in 2019 (Schedule 8 to the Minutes).

 

About RusHydro

RusHydro Group is the leading producer of renewable energy in Russia. It is Russia's largest generating company and is the fourth in the world with over 400 generating facilities in Russia and Armenia. The Group's total electricity generation capacity including Boguchanskaya HPP is 39.5 GW.

Russian Federation owns 61.20% in RusHydro, the rest is held by other institutional and individual shareholders (over 360,000). The company's stock is traded on the Moscow Stock Exchange. Company's GDRs in the IOB section of LSE, ADRs - in OTCQX.

 

 

For more information:

Investor Relations Department

Tel. +7 (495) 122 0555 ext. 1304

ir@rushydro.ru

 

The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of RusHydro. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might," the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially from these statements. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industries, as well as many other risks specifically related to RusHydro and its operations.