Results of the Board of Directors on July 15,
2013
July 15, 2013. Moscow,
Russia. JSC RusHydro (ticker symbol: MICEX-RTS, LSE: HYDR;
OTCQX: RSHYY) announces that the Company's Board of Directors held
a meeting in absentia on July 15, 2013.
***
The Board of Directors elected Mikhail
Poluboyarinov as Chairman of the Board.
Mikhail Poluboyarinov was born in 1966.
He graduated from Credit and Economic Faculty of Moscow Finance
Institute in 1988 and did his post-graduate studies at the
Plekhanov Russian Academy of Economics in
1998.
Mr. Poluboyarinov has been working at
the State Corporation Vnesheconombank since 2009, from October 2012
as a Member of the Management Board, First Deputy Chairman. Prior
to joining Vnesheconombank he had been working in Aeroflot as
Deputy CEO from 2003 to 2009.
***
The Board of Directors elected Viktor
Danilov-Danilyan as Deputy Chairman of the Board.
Mr. Danilov-Danilyan was born in 1938.
He graduated from Moscow State University, school of mechanics
& mathematic and holds a doctorate in economics, an acting
member of the Russian Academy of Sciences.
Mr. Danilov-Danilyan currently holds
the positions of Director in the Institute of Water Issues of the
Russian Academy of Sciences, head of faculty of environment and
water resources of the People's Friendship University of Russia,
head of faculty of water resources management of the Moscow State
University.
***
The Board of Directors elected the
members of the committees of the Board.
The Board elected 3 members to the
Audit Committee:
-
Viktor Danilov-Danilyan, Deputy
Chairman of the Board, independent director;
-
Andreas Christian Berndt, Member of the
Board, independent director;
-
Sergey Ivanov, Member of the Board,
independent director.
The Board re-elected Mr.
Danilov-Danilyan as the Chairman of the
committee.
***
The Board elected the following members
to Human resources and Remuneration Committee:
-
Viktor Danilov-Danilyan, Deputy
Chairman of the Board, independent director;
-
Andrei Bougrov, Member of the Board,
independent director;
-
Sergey Ivanov, Member of the Board,
independent director.
The Board re-elected Mr.
Danilov-Danilyan as the Chairman of the
committee.
***
The Board of Directors elected 12
members to the reliability, energy efficiency and innovations
committee:
- Rakhmetulla Alzhanov, Deputy Chairman
of the Management Board, RusHydro;
- Evgeny Bellendir, Director for
scientific research, RusHydro;
- Boris Bogush, Member of the Management
Board, RusHydro;
- Mikhail Bolgov, acting general
director, Institute of Water Issues of the Russian Academy of
Sciences;
- Maxim Bystrov, Member of the Management
Board, RusHydro;
- Eduard Volkov, General Director,
Krzhizhanovsky Energy Scientific and Research
Institute;
- Sergey Voskresensky, Member of the
Management Board, RusHydro;
- Viktor Kudryaviy, Advisor to President,
JSC EUROCEMENT Group;
- Sergey Ivanov, Member of the Board of
Directors, RusHydro;
- Sergey Pavlushko, Member of the
Management Board, director for regime control, System Operator of
Russia;
- George Rizhinashvili, Deputy Chairman
of the Management Board, RusHydro;
- Rasim Khaziakhmetov, Director for
technical policy and development, RusHydro.
The Board re-elected Mr. Kudryaviy as
the Chairman of the committee.
***
The Board elected 9 members to the
Strategy Committee:
- Alexander Azuan, Acting Dean of Faculty
of Economics, Lomonosov State University;
- Evgeny Gorev, Member of the Management
Board, RusHydro;
- Viktor Danilov-Danilyan, Deputy
Chairman of the Board of Directors, RusHydro;
- Andrey Malyshev, President, E4
Group;
- Mikhail Mantrov, Deputy Chairman of the
Management Board, RusHydro;
- Valentin Mezhevich, Member of the Upper
House of Parliament;
- Vyacheslav Pivovarov, Member of the
Board of Directors, RusHydro;
- George Rizhinashvili, Deputy Chairman
of the Management Board, RusHydro;
- Nikolay Shulginov, First Deputy
Chairman of the Management Board, System Operator of
Russia.
The Board re-elected Mr. Malyshev as
the Chairman of the committee.
***
The Board elected 10 members to the
Investments Committee:
- Boris Bogush, Member of the Management
Board, RusHydro;
- Andrei Bougrov, Member of the Board of
Directors, RusHydro;
- Maxim Bystrov, Member of the Management
Board, RusHydro;
- Viktor Danilov-Danilyan, Deputy
Chairman of the Board of Directors, RusHydro;
- Viktor Zimin, Member of the Board of
Directors, RusHydro;
- Sergey Ivanov, Member of the Board of
Directors, RusHydro;
- Alexander Ilyenko, Member of the
Management Board, director for development, System Operator of
Russia;
- Sergey Kirov, Director for Economics,
RusHydro;
- Mikhail Mantrov, Deputy Chairman of the
Management Board, RusHydro;
- George Rizhinashvili, Deputy Chairman
of the Management Board, RusHydro.
The Board elected Mr. Bystrov as the
Chairman of the committee.
***
The Board of Directors approved the
disposal of RusHydro?s shareholding in JSC Trust Hydromontazh in
the amount 97,341,002 ordinary and 29,712,027 preferred shares,
equivalent to 33.54% in share capital, TEK Mosenergo for a total
consideration RUR 1,663,174,970.82 at a price of RUR 13.0904 per
ordinary and preferred share. Disposal of shares was approved by
the government?s decree No. 345-p of March 13,
2013.
JSC Trust Hydromontazh provides
engineering, delivery and installation of hydromechanical equipment
and steelwork to hydropower and nuclear companies, including
RusHydro.
***
In accordance with the guideline of the
government of Russia the Company?s Board of Directors considered
carrying out a technological assessment and price audit of the
investment projects with completed prefeasibility studies and
commissioned Evgeny Dod, Chairman of the Management Board of
RusHydro:
- To carry out a public technological
assessment and price audit of the following investment projects
till November 15, 2013:
?
The Kankunskaya HPP;
?
The Ussuriyskaya TPP;
?
The Leningradskaya pumped storage
plant.
The independent appraisers should have
a relevant audit experience of at least 7 years, and a proven
track-record of assessment of at least 7 projects with estimated
cost over RUR 8 bn. Such appraiser should employ at least 5
specialists with relevant experience of a minimum 5
years.
To provide the expert counsel of
implementation of the technological assessment and price audit with
the Expert Board of the government of Russia and through disclosure
of the audit results on RusHydro?s corporate
website.
- To develop together with the Expert
Board of the government of Russia and submit for the Board of
Directors? consideration the Regulations on mandatory technological
assessment and price audit of the Company?s and its subsidiaries?
investment projects which estimated cost exceeds RUR 1.5 bn. The
Regulations should set the procedure of preparation, implementation
and finalization of the results of the audit. The Regulations will
be applied starting from 2014.
- To report the results of execution of
p. 1 and 2 of this decision to the Board of Directors as well as to
inform the government of Russia on the results of the work done
till December 1, 2013.
- To submit by April 5 on annual basis to
the government of Russia the report on execution of the investment
program and commissioning new power facilities as well as the
results of the technological assessment and price audit of the
Company?s investment projects, including summary analysis of audits
and experts reviews, starting from 2014.
***
The Board of Directors approved its
working plan for the second half of 2013 and commissioned Evgeny
Dod, Chairman of the Management Board of RusHydro, to present the
working plan for the first half of 2014 for the Board of Directors?
consideration till December 31, 2013.
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 36.5 GW, heat capacity ? 16.2 thousand
GCal/h.
Russian Federation owns 67.1% 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 ? MSCI
Russia indexes. Company?s GDRs in the IOB section of LSE, ADRs ? in
OTCQX.
For more
information:
JSC RusHydro, Investor Relations
Department
Tel. +7 (495) 225-3232 ext. 1319,
1607
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.
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