27 Jun 2018 17:13
Results of the Board of Directors Meeting on June 25, 2018
PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Company's Board of Directors held a meeting on June 25, 2018.
***
Content of the resolutions adopted by the Issuer's Board of Directors:
Item 1: The interim results of the fulfillment of the Company's Business Plan for 2018 with regard to the actual results for Q1 2018 (including reports on the fulfillment of the Investment Program (including the Complex Modernization Program for Generating Facilities)).
Resolution:
To confirm the interim results of the fulfillment of the Company's Business Plan for 2018 with regard to the actual results for Q1 2018 (including reports on the fulfillment of the Investment Program (including the Complex Modernization Program for Generating Facilities) for Q1 2018) (Appendix 1 to the Minutes).
Item 2: Approval of the report on the fulfillment of the Annual Complex Procurement Program of RusHydro for Q1 2018.
Resolution:
To approve the Report on the Achievement of the Key Performance Indicators of RusHydro for Q1 2018 (Appendix 2 to the Minutes).
Item 3: Consideration of the reports on the performance results of the Committees of the RusHydro Board of Directors for the 2017-2018 corporate year.
3.1. Consideration of the report on the results of the activity of the Reliability, Energy Efficiency, and Innovations Committee of the Board of Directors of the Company for the 2017-2018 corporate year.
Resolution:
To approve the report on the results of the activity of the Reliability, Energy Efficiency and Innovations Committee of the Board of Directors of the Company for the first half of the 2017-2018 corporate year (Appendix 3 to the Minutes).
3.2. Consideration of the report on the results of the activity of the Strategy Committee of the Board of Directors of the Company for the 2017-2018 corporate year.
Resolution:
To approve the report on the results of activity of the Strategy Committee of the Board of Directors of the Company for the 2017-2018 corporate year (Appendix 4 to the Minutes).
3.3. Consideration of the report on the results of the activity of the Investments Committee of the Board of Directors of the Company for the 2017-2018 corporate year.
Resolution:
To approve the report concerning the results of activity of the Investments Committee of the Board of Directors of the Company for the 2017-2018 corporate year (Appendix 5 to the Minutes).
3.4. Consideration of the report on the results of the activity of the Far East Power Industry Development Committee of the Board of Directors of the Company for the 2017-2018 corporate year.
Resolution:
To approve the report concerning the results of the activity of the Far East Power Industry Development Committee of the Board of Directors of the Company for the 2017-2018 corporate year (Appendix 6 to the Minutes).
3.5. Consideration of the report on the results of the activity of the HR and Remunerations (Nominations) Committee of the Board of Directors of the Company for the 2017-2018 corporate year.
Resolution:
To approve the report concerning the results of activity of the HR and remunerations (nominations) Committee of the Board of Directors of the Company for the 2017-2018 corporate year (Appendix 7 to the Minutes).
3.6. Consideration of the report on the results of the activity of the Audit Committee of the Board of Directors of the Company for the 2017-2018 corporate year.
Resolution:
To approve the report concerning the results of activity of the Audit Committee of the Board of Directors of the Company for the 2017-2018 corporate year (Appendix 8 to the Minutes).
Item 4: Consideration of the Report on the Activities of the Management Board of the Company for 2017.
Resolution:
To take into consideration the Report on the Activities of the Management Board of the Company for 2017 (Appendix 9 to the Minutes).
Item 5: Priority activities of the Company:
5.1. The progress status of priority projects for the construction of 3 facilities in the Far East (Yakutskaya GRES-2 (Phase 1), CHPP in Sovetskaya Gavan, Sakhalinskaya GRES-2 (Phase 1)) as of March 31, 2018.
Resolution:
To take into consideration information on the progress status of priority projects for the construction of 3 facilities in the Far East (Yakutskaya GRES-2 (Phase 1), CHPP in Sovetskaya Gavan, Sakhalinskaya GRES-2 (Phase 1)) as of March 31, 2018 (Appendix 10 to the Minutes).
Item 6: Conclusion by the Company of a transaction relating to the gratuitous transfer of the Company's property to third parties.
Resolution:
To approve the conclusion of an Agreement on the Gratuitous Transfer (Donation) of Property under the following material terms and conditions:
Parties to the Agreement:
The Donor is the Company;
The Donee is Zelenchuk Municipal District, a municipal entity in the Karachai-Cherkess Republic.
Subject of the Agreement:
The Donor shall, on a gratis basis, transfer and the Donee shall take into possession for use pro bono publico (as a public transportation facility) a real property facility - the motor road bridge across the river Khusa - with an area of 298 sq. m., registered under cadastral number number 09:06:0000009:106, and located at: the facilities of the Zelenchukskiye HPPs power complex, Zelenchukskaya Stanitsa, Zelenchuk District, the Karachai-Cherkess Republic.
Book value of the real property facility as of May 31, 2018:
1,386,221 (one million three hundred eighty-six thousand two hundred twenty-one) rubles and 63 kopecks.
Item 7: Approval of the Company's internal documents:
7.1. Approval of the Regulation on the RusHydro Business Planning System.
Resolution:
1. To approve the new version of the Regulation on the RusHydro Business Planning System as per Appendix 11 to the Minutes.
2. To deem the Regulation on the RusHydro Business Planning System approved by the decision of the Board of Directors of the Company (Minutes No. 233 dated April 1, 2016) void.
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 39.0 GW, heat capacity - 16.2 thousand GCal/h.
Russian Federation owns 60.6% 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 (495) 225 3232 ext. 1607, 1319, 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 PJSC "RusHydro" ("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.