7 Apr 2017 12:08
April 7, 2017
Results of the Board of Directors on April 4, 2017
PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Company's Board of Directors held a meeting in absentia on April 4, 2017.
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The Board of Directors:
· Took note of the draft consolidated investment program of the RusHydro Group for the years 2018 to 2022 (amended) and for 2017 (amended).
· Preliminarily approved the draft of investment program of PJSC RusHydro for the years 2018 to 2027 and the draft amendments to the investment program of PJSC RusHydro for the years 2017 to 2019, approved by Order No 1458 of the Ministry of Energy of the Russian Federation of 30.12.2016 "On approval of investment program of PJSC RusHydro for the years 2017 to 2019 and amendments made to the investment program of PJSC RusHydro" approved by Order No 956 of the the Ministry of Energy of the Russian Federation of 14.12.2015 in order to ensure information disclosure in accordance with the Resolution of the Government of the Russian Federation of 21.01.2004 No 24 "On Approval of Standards for Disclosure of Information by the Subjects of the Wholesale and Retail Electricity Markets".
· Instructed the Chairman of the Management Board - Director General of PJSC "RusHydro" Nikolay Shulginov to:
- Submit, in the due manner, to Ministry of Energy of the Russian Federation of the approved draft investment program of PJSC RusHydro for the years 2018 to 2027 and the draft amendments to the investment program of PJSC RusHydro for the years 2017 to 2019, approved by Order No 1458 of the Ministry of Energy of 30.12.2016 "On approving the investment program of PJSC RusHydro for the years 2017 to 2019 and amendments made to the investment program of PJSC RusHydro"
- Reflect parameters of of the approved draft consolidated investment program of RusHydro Group for the years 2018 to 2022 and for 2017 (amended) in adjustments made to the business plan of PJSC RusHydro for the years 2017 to 2021, subject to inclusion of costs for the non-deliverable forward transaction for shares with VTB Bank (PAO),
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The Board of Directors approved the list of investment projects, being implemented and planned to be implemented under PJSC RusHydro Investment Program for public process and price audit in 2017-2018 (Annex 5 to the Minutes).
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The Board of Directors took note of information on the status of implementation of priority projects for the construction of 4 facilities in the Far East (Yakutsk GRES-2 (the 1st stage), the 2nd stage of Blagoveshchenskaya CHPP, CHPP in Sovetskaya Gavan, Sakhalin GRES-2 (the 1st stage) as of 31.12.2016 Item 3. On the status of implementation of priority projects for the construction of 4 facilities in the Far East (Yakutsk TPP-2 (the 1st stage), the 2nd stage of Blagoveshchenskaya CHPP, CHPP in Sovetskaya Gavan, Sakhalin TPP-2 (the 1st stage).
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The Board of Directors took note of the on-site inspections results of Ministry of Energy of the Russian Federation regarding the progress of implementation of the investment project "Construction of the Blagoveshchenskaya CHP Plant (2nd stage)", "Construction of the CHP Plant in Sovetskaya Gavan", "Construction of Yakutskaya TPP-2 (1st stage)", "Construction of Sakhalinskaya TPP-2 (1st stage)" and action plans adopted by PJSC RusHydro aimed at addressing identified issues and ensuring commissioning of the facilities.
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The Board of Directors approved the amended Charitable and sponsorship program of the Company for 2017.
About RusHydro
RusHydro Group is one of Russia's largest generating companies. RusHydro is the leading producer of renewable energy in Russia with over 70 generating facilities in Russia and abroad. The company also manages a number of R&D, engineering and electricity retail companies. Group's thermal assets are operated by subsidiary - RAO Energy System of East in the Far East of Russia. Total electricity generation capacity of the Group is 38.7 GW, heat capacity - 16.2 thousand GCal/h.
Russian Federation owns 66.8% in RusHydro, the rest is held by other institutional and individual shareholders (over 360,000). The company's stock is traded on Moscow Exchange (MOEX), and included in MSCI EM и MSCI Russia indexes. Company's GDRs in the IOB section of LSE, ADRs - in OTCQX.
For more information:
Investor Relations Department
Tel. +7 (800) 333 8000 ext. 1607, 1319, 1304
ir@rushydro.ru
DISCLAIMER
The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of RusHydro. One can identify forward-looking statements by terms such as "expect," "believe," "anticipate," "plan", "aim", "target", "forecast", "project", "should", "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 and political conditions, our competitive environment, risks associated with operating in Russia and rapid technological and market changes in our industries, as well as many other risks specifically related to RusHydro and its operations.