18 Mar 2015 07:00
March 18, 2015
Results of the Board of Directors on March 16, 2015
JSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Company's Board of Directors held a meeting in absentia on March 16, 2015.
***
The Board of Directors approved the report on insurance protection of RusHydro in 2014.
***
The Board of Directors commissioned RusHydro's representatives at the AGM of JSC TC RusHydro to vote for consolidation of Moscow Transport Company RusHydro LLC (MTC RusHydro) into the structure of JSC Transport Company RusHydro (TC RusHydro).
The Board of Directors also approved the agreement on consolidation of MTC RusHydro LLC and JSC TC RusHydro.
RusHydro's share in the share capital of TC RusHydro remains unchanged and amounts to 100%.
***
The Board of Directors determined that the Management Board of RusHydro will consist of 6 members.
The Board of Directors also commissioned Evgeny Dod, Chairman of the Management Board-General Director of RusHydro, to make the relevant amendments to organizational structure of the Company and submit it for the Board's review by June 1, 2015.
***
The Board of Directors appointed Sergey Kirov to a position of a member of the Management Board of RusHydro and commissioned Evgeny Dod, Chairman of the Management Board-General Director of RusHydro, to sign the labor agreement with Mr. Kirov. The Board of Directors also approved combining positions of member of the Management Board of RusHydro by Sergey Kirov and the following positions:
- Member of the Board of Directors of CJSC Verkhne-Narynskie HPPs;
- Member of the Board of Directors of JSC Vedeneev VNIIG;
- Member of the Board of Directors of JSC Geoterm;
- Member of the Board of Directors of JSC Hydroremont-VKK;
- Member of the Board of Directors of JSC Zaramagskie HPPs;
- Member of the Board of Directors of JSC Institute Hydroproject;
- Member of the Board of Directors of JSC Kolymaenergo;
- Member of the Board of Directors of JSC Krasnoyarskenergosbyt;
- Member of the Board of Directors of CJSC Malaya Dmitrovka;
- Member of the Board of Directors of CJSC MEK;
- Member of the Board of Directors of JSC Mosoblhydroproject;
- Member of the Board of Directors of JSC NIIES;
- Member of the Board of Directors of JSC RAO ES of the East;
- Member of the Board of Directors of JSC RESK;
- Member of the Board of Directors of JSC RusHydro MC (UK Gidroogk);
- Member of the Board of Directors of JSC SC SSHPP;
- Member of the Board of Directors of JSC Chuvash energy retail company;
- Member of the Board of Directors of ENEX LLC;
- Member of the Board of Directors of JSC ESC RusHydro;
- Member of the Board of Directors of Energy retail company of Bashkortostan LLC.
Sergey Kirov doesn't own RusHydro's shares.
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 37.5 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 the MICEX and RTS stock exchanges, 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," "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 and rapid technological and market changes in our industries, as well as many other risks specifically related to RusHydro and its operations.