Minutes of 26.07.2006 №22

MINUTES No. 22

OF THE BOARD OF DIRECTORS MEETING


Date and time of vote counting:                                     July 26, 2006, 6 p.m. 

                                                                                 (Moscow time)

Form of vote:                                                               by questioning

Site of vote counting:                                                   Moscow, Vernadskogo prospect, 8a

Number of elected members of the Board of Directors:      11

Members of the Board of Directors present at meeting:      B. I. Ayuev

                                                                                  V. A. Zubakin

                                                                                  D. V. Ponomarev

                                                                                  A. N. Rappoport

                                                                                  V. Yu. Sinyugin

                                                                                  Ya. M. Urinson

                                                                                  R. Z. Khamitov

                                                                                  David Khern

                                                                                  V. B. Khristenko

                                                                                  A. B. Chubais

                                                                                  Per-Christian Endsjo


In compliance with Federal Law on Joint-Stock Companies and the company's Articles of Association the quorum for conducting the Board of Directors' meeting is present.


AGENDA OF THE BOARD OF DIRECTORS MEETING:

 

1. On composition of the Investment Committee attached to the company's Board of Directors.

2. On composition of the Reliability Committee of the company's Board of Directors.

3. Payment of supplementary fee to the members of the company's Audit Commission.

4. On determination of the company's (company's representatives) opinion regarding the issues in agendas of the Board of Directors' meetings and General Meetings of subsidiaries' and affiliates' shareholders.

 

RESULTS OF VOTING ON AGENDA:

 

Matter 1: On composition of the Investment Committee attached to the company's Board of Directors.


Decision:

1. Approve the composition of the Strategy Development Committee under supervision of the company's Board of Directors as follows:


Aivaras Abromavichus

Managing Director, East Capital Fund

Kirill Gennadyevich Androsov

Deputy Minister of Economic Development and Trade of the Russian Federation

Andrey Vladimirovich Dementyev

Deputy Minister of Industry and Energy of the Russian Federation

Vasily Aleksandrovich Zubakin

Member of the Board of Directors of JSC HydroOGK,

Member of the Management Board of JSC RAO UES of Russia,

Head of the Reform Management Department attached to the Corporate Centre of JSC RAO UES of Russia

Valentin Efimovich Mezhevich

Member of the Federation Council of the Federal Assembly of the Russian Federation, First Deputy Chairman of Natural Monopolies Commission of the Federation Council

Evgeny Anatolyevich Khilenko

Deputy Head of the Federal Agency for Water Resources (FAWR)

Oleg Borisovich Oksuzyan

Member of the Management Board, JSC HydroOGK

Sergey Alekseevich Pavlenko

Member of the Management Board, JSC HydroOGK

Vyacheslav Yuryevich Sinyugin

Member of the Board of Directors, Chairman of the Management Board of HydroOGK, Member of the Management Board of JSC RAO UES of the Russian Federation

David Aleksander Khern

Member of the Board of Directors of JSC HydroOGK,

Managing Director in Halcyon Advisors


2. Elect Kirill Gennadievich Androsov as Chairman of the Strategy Committee under the supervision of the company's Board of Directors.


Voting results:

"For" - 11 (B. I. Ayuev, V. A. Zubakin, D. V. Ponomarev, A. N. Rappoport, V. Yu. Sinyugin, Ya. M. Urinson, R. Z. Khamitov, D. Khern, V. B. Khristenko, A. B. Chubais, P. Endsjo)

"Against" - 0

"Abstained" - 0

Decision made.

 

 

Matter 2: On composition of the Reliability Committee of the company's Board of Directors.


Decision:

1. Approve the composition of the Reliability Committee of the company's Board of Directors.


Andrey Fedorovich Zadernyuk

Technical Director of JSC Mezhregionenergo, Settlement Control Centre

Georgy Ivanovich Tikhonov

Adviser to the general director of JSC MC HydroOGK

Aleksandr Valentinovich Toloshinov

Member of the Management Board, JSC HydroOGK

Rasim Magsumovich Khaziakhmetov

Member of the Management Board, JSC HydroOGK

David Aleksander Khern

Member of the Board of Directors of JSC HydroOGK,

Managing Director in Halcyon Advisors

Aleksandr Sergeevich Dubrovin

Chief engineer RP Centrenergtechnadzor

Mikhail Yuryevich Lyvov

Head of the Internal Audit and General Inspection Department attached to the Corporate Centre of JSC RAO UES of Russia


2. Elect Georgy Ivanovich Tikhonov as Chairman of the Reliability Committee under the supervision of the company's Board of Directors.

 

Voting results:

"For" - 9 (B. I. Ayuev, V. A. Zubakin, D. V. Ponomarev, A. N. Rappoport, V. Yu. Sinyugin, Ya. M. Urinson, V. B. Khristenko, A. B. Chubais, P. Endsjo)

"Against" - 0

"Abstained" - 1 (David Khern)

R. Z. Khamitov, member of the Board of Directors, did not take part in voting on the matter.

Decision made.

 

 

Matter 3: Payment of supplementary fee to the members of the Company's Audit Commission.

 

Decision:

Determine the following procedure of supplementary fee payments to the members of the company's Audit Commission:

1. Supplementary fees are paid to the following members of the company's Audit Commission. Chairman of the Audit Commission - S. B. Sidorov, Members of the Audit Commission - M. V. Zavalko, D. A. Burnashev, N. A. Krenev, D. V. Gataulin, for performing an audit of the company's financial and business activities on the results of 2005;

2. Supplementary fee amounts to six minimum monthly wage rates of a grade one worker;

3. The amount of fee paid to the chairman of the Audit Commission is increased by 50 (fifty) per cent;

4. Term of supplementary fee payment is within fifteen days from the Board of Directors of the company made this decision.

 

Voting results:


"For" - 11 (B. I. Ayuev, V. A. Zubakin, D. V. Ponomarev, A. N. Rappoport, V. Yu. Sinyugin, Ya. M. Urinson, R. Z. Khamitov, D. Khern, V. B. Khristenko, A. B. Chubais, P. Endsjo)

"Against" - 0

"Abstained" - 0

Decision made.

 

 

Matter 4: On determination of the company's (company's representatives) opinion regarding the issues in agendas of the Board of Directors' meetings and General Meetings of subsidiaries' and affiliates' shareholders.


Decision:

1. Approve participation of the following subsidiaries and affiliates (SA) of JSC HydroOGK in Non-Profit Partnership "Innovations in the Electricity" (NP INVEL):

- JSC Volzhskaya HPP

- JSC Zhigulevskaya HPP

- JSC Cascade of Verkhnevolzhskiye HPPs

- JSC Kamskaya HPP

- JSC Saratovskaya HPP

- JSC Zelenchukskie HPPs

- JSC Zeyskaya HPP

- JSC Nizhegorodskaya HPP

- JSC Boguchanskaya HPP

- JSC Zaramagskiye HPPs

- JSV Sulakenergo

- JSC KabbalkHPP

2. Instruct the company's representatives in the Board of Directors of the mentioned SA to vote FOR making the following decision:

Approve participation of the company in Non-Profit Partnership "Innovations in the Electricity" (NP INVEL) under the following essential terms:

a) an admission fee amount in 2006 is 300,000 rubles.

b) method of admission fee (lump sum) payment - monetary assets.

 

Voting results:

"For" - 11 (B. I. Ayuev, V. A. Zubakin, D. V. Ponomarev, A. N. Rappoport, V. Yu. Sinyugin, Ya. M. Urinson, R. Z. Khamitov, D. Khern, V. B. Khristenko, A. B. Chubais, P. Endsjo)

"Against" - 0

"Abstained" - 0

Decision made.

 


Questionnaires of the members of the Board of Directors are attached.




Chairman of the Board of Directors                                   V. B. Khristenko


Secretary of the Board of Directors                                   V. S. Pushkarev

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