2 Jul 2012 10:39
Federal Grid Announces AGM Results
2 July 2012, Moscow - Federal Grid Company of Unified Energy System ("Federal Grid Company" or "the Company") (MICEX-RTS, LSE: FEES), announces that its Annual General Shareholders Meeting was held on Friday, 29 June 2012 in Moscow.
Each of the resolutions as laid out in the Notice of AGM of 29 May 2012 was voted on by way of combined absentee vote and poll. The results, certified by the Company's registrar, CJSC Status, were as follows:
Resolution | For (%) | Against (%) | Total votes cast | Votes withheld |
Approval of the Company's Annual Report | 99.784 | 0.002 | 1 116 038 994 573 | 1 778 043 719 |
Approval of the Company's annual financial statements, including the income statement (profit and loss accounts) | 99.784 | 0.002 | 1 116 038 994 573 | 1 780 456 925 |
Approval of the Company's profit distribution based on 2011 results | 99.776 | 0.009 | 1 116 038 994 573 | 1 788 924 039 |
On the amount, terms and forms of payment for 2011 dividends | 99.698 | 0.012 | 1 116 038 994 573 | 1 787 518 291 |
On the payment of remuneration to non-State members of the Board of Directors (the Supervisory Board) in amounts set by the Company's internal regulations | 99.709 | 0.001 | 1 116 038 994 573 | 1 778 435 004 |
Election of members of the Company's Board of Directors (the Supervisory Board) | ||||
Boris Ayuyev | 9.142 | 0.143 | 12 276 428 940 304* | 3 541 592 562* |
Oleg Budargin | 9.163 | |||
Boris Kovalchuk | 9.142 | |||
Vyacheslav Kravchenko | 9.141 | |||
Andrei Malyshev | 9.141 | |||
Vladimir Rashevsky | 9.744 | |||
Elena Titova | 9.724 | |||
Denis Fedorov | 3.996 | |||
Ernesto Ferlenghi | 9.45 | |||
Rashid Sharipov | 11.655 | |||
Ilya Sherbovich | 9.411 | |||
Election of members of the Company's Audit Commission (the Controller) | ||||
Anna Drokova | 99.686 | 0.001 | 1 116 030 212 173 | 2 008 697 363 |
Andrei Colyada | 99.686 | 0.001 | 2 007 403 787 | |
Victor Lebedev | 99.686 | 0.001 | 2 006 484 726 | |
Vladimir Raspopov | 99.686 | 0.001 | 2 007 499 592 | |
Maria Tikhonova | 99.686 | 0.001 | 2 006 845 724 | |
Approval of the Company's Auditor | 99.785 | 0.001 | 1 116 038 994 573 | 1 781 212 181 |
Approval of the Company's revised Regulations On the Audit Commission | 99.785 | 0.001 | 1 116 038 994 573 | 1 780 019 343 |
Approval of the revised Regulations On Remuneration and Compensation for Members of the Company's Board of Directors | 99.699 | 0.01 | 1 116 038 994 573 | 1 794 334 879 |
Approval of related party transactions | 88.224 | 0.008 | 1 116 030 212 173 | 2 590 928 668 |
*cumulative votes cast for all candidates
In addition to approving the Company's annual report and annual financial statements, shareholders voted not to pay dividends for 2011 at the AGM. The AGM voted not to pay remuneration to the members of the Company's Board of Directors for 2011 (in accordance with Regulations on Remuneration and Compensation for Members of Federal Grid Company's Board of Directors).
Below are the members of the new Board of Directors following the AGM:
Name | Position(s) held (at the time of nomination) |
Boris Ayuyev | Chairman of the Management Board, JSC SO UES |
Oleg Budargin | Chairman of the Management Board, Federal Grid Company |
Boris Kovalchuk | Chairman of the Management Board, JSC INTER RAO UES |
Vyacheslav Kravchenko | General Director, LLC Rosneft-Energo |
Andrei Malyshev | Deputy General Director, JSC ROSNANO |
Vladimir Rashevsky | General Director, Chairman of the Management Board, JSC SUEK |
Elena Titova | Managing Director, First Deputy Chairman of the Management Board, LLC Morgan Stanley Bank |
Denis Fedorov | General Director, JSC Centrenergoholding, General Director, LLC Gazprom energoholding |
Ernesto Ferlenghi | Honorary Consul of Italy in Russia |
Rashid Sharipov | Deputy General Director, LLC KFK-Consult |
Ilya Sherbovich | President and Managing Partner, United Capital Partners |
Revision Commission members following the AGM are:
Name | Position(s) held (at the time of nomination) |
Anna Drokova | Deputy Department Head, Russian Federal Property Management Agency |
Andrei Colyada | Department Head, Russian Federal Property Management Agency |
Victor Lebedev | Deputy Department Director, Russian Ministry of Economic Development |
Vladimir Raspopov | Deputy Division Head, Russian Federal Property Management Agency |
Maria Tikhonova | Department Director, Russian Ministry of Energy |
The meeting also reappointed LLC RSM Top-Audit as Federal Grid Company's RAS auditor.
The Meeting approved revised Regulations on the Audit Commission, revised Regulations on Remuneration and Compensation for Members of the Company's Board of Directors, and related party transactions.
The full text of the resolutions will shortly be available on the Company's website www.federal-grid.com.
Enquiries:
Contacts | ||
Analysts / Investors | ||
Federal Grid IR team | Work | Mobile |
Alexander Duzhinov | +7 (495) 710 9064 | +7 (916) 041 8053 |
Nadezda Sukhova | +7 (495) 710 9541 | |
Egor Toropov | +7 (495) 710 9333 ext. 2275 | |
Vladimir Baklanov | +7 (495) 710 9333 ext. 2926 | |
International Media | ||
M:Communications | Work | Mobile |
Tom Blackwell | +7 (495) 363 2841 | +7 (919) 102 9064 |
Sam VanDerlip | +7 (495) 363 2845 | +7 (916) 306 6112 |
About Federal Grid Company
Federal Grid Company is the operator and manager of Russia's unified electricity transmission grid system, including high voltage transmission lines, and holds the status of a natural monopoly.
The Company's assets include over 124,000 km of transmission lines and 854 substations with over 322 GVA of 35-750 volt transformer capacity. Based on the length of transmission lines and installed transformer capacity, Federal Grid is the largest publicly traded electricity transmission company in the world.
Federal Grid's business is to provide electricity transmission and technological connection services. It maintains and develops the grid system and supervises grid facilities and infrastructure in 73 regions of Russia, covering a territory of 13.6 million square kilometres. Its customers are regional distribution companies, electricity suppliers and large industrial enterprises.
Since 1 January 2010, Federal Grid has operated under a 5-year regulatory asset base (RAB) model.
The Company was incorporated in June 2002 as part of reorganisation of Russia's electrical power industry. The largest shareholder, with a 79.55% stake, is the Russian Federation Government.
Federal Grid Company's ordinary shares are listed on the MICEX-RTS stock exchange under the ticker FEES and the Company's GDRs are traded on the London Stock Exchange under the same FEES symbol. The Company's shares are included in the MSCI Emerging Markets and MSCI Russia indices.
In 2011 the Company's IFRS revenue for 2011 was RUB 139,571 million (up 23% compared to 2010), adjusted EBITDA as RUB 83,760 million (a 24% increase from 2010), and adjusted net profit was RUB 38,241 million (up 37% on 2010).
Further information can be found at www.federal-grid.com
FEES.L (FEES)