30 Jun 2014 12:03
JSC Russian Grids
Results of Annual General Meeting of Shareholders
30 June 2014. Moscow, Russia. - JSC Russian Grids (LSE: RSTI) (the "Company"), the largest electricity transmission and distribution grid company in Russia, announces the results of the Annual General Meeting of Shareholders ("AGM") held earlier today.
The following resolutions were passed at the AGM:
1. Approve the Company's annual report for 2013.
2. Approve the Company's 2013 accounts, including the income statement.
3. Approve distribution of profit for 2013.
4. No dividend payment shall be made on the Company's preferred or ordinary shares for 2013.
5. No remuneration to members of the Board of Directors shall be paid in accordance with the Company's internal documents.
6. Elect the following 15 members of the Board of Directors:
7. Elect the following 5 members of the Internal Audit Committee:
8. Approve LLC Ernst & Young as the Company's auditor.
9. Approve a new edition of the Company's Articles of Association.
10. Approve a new edition of the Regulations for the Company's General Meeting of Shareholders.
11. Approve a new edition of the Regulations for the Company's Board of Directors.
12. Approve a new edition of the Regulations for the Management Board.
13. Approve a new edition of the Regulations for the Internal Audit Committee.
14. Approve a new edition of the Regulations on remuneration and compensation for the members of the Board of Directors.
15. Approve a new edition of the Provisions on remuneration and compensation for the members of the Internal Audit Committee.
16. Approve the liability insurance agreement for directors and officers, which constitutes a related party transaction.
17. Approve the liability insurance agreement for directors and officers for the period of 25 December 2014 to 24 December 2015, which constitutes a related party transaction.
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For further information:
JSC Russian Grids
Maria Stepanova, Head of IR +7(495) 995 5333 (ext. 3961)
Yulia Martynova, IR +7 (495) 995 5333 (ext. 3834)
FTI Consulting
Larisa Millings +44 (0)20 3727 1364
Maria Shiryaevskaya +7 (495) 795 0623
Olga Lundquist +7(495) 795 0623
JSC Russian Grids is the largest electricity transmission and distribution grid company in Russia. It is also one of the largest electricity transmission and distribution grid companies in the world by length of electricity lines and installed transformer capacity. JSC Russian Grids holds interests in and manages 15 distribution grid companies and Federal Grid Company in Russia. The Company together with its subsidiaries owns and operates 2.25 million kilometers of electricity transmission and distribution lines with a total installed transformer capacity of 743 GVA. The Company operates in 74 regions of Russia covering the area of 13.6m sq. km.
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of JSC Russian Grids. 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. 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 industry, as well as many other risks specifically related to JSC Russian Grids and its operations.