Minutes of 09.03.2006 №16

MINUTES No. 16

OF THE BOARD OF DIRECTORS MEETING

 

Date and time of vote counting:                                     March 9, 2006, 6.00 p.m.

                                                                                 (Moscow time)

Form of vote:                                                               by questioning

Site of vote counting:                                                    Moscow, Vernadskogo Prospect, 101, bld. 3

Number of elected members of the Board of Directors:      11

Members of the Board of Directors present at meeting:      Viktor Borisovich Khristenko

                                                                                  Anatoly Borisovich Chubais

                                                                                  Vyacheslav Yuryevich Sinyugin

                                                                                  Boris Ilyich Ayuev

                                                                                  Vasily Aleksandrovich Zubakin

                                                                                  Dmitry Valeryevich Ponomarev

                                                                                  Aivaras Abromavichus

                                                                                  David Aleksander Khern


 

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. Identification of the company's priority areas of activity; obtaining the rights of possession and use of HPPs owned by the company's subsidiaries and affiliates (SA).

 

RESULTS OF VOTING ON AGENDA:

 

Matter 1: Identification of the company's priority areas of activity: Obtaining the rights of possession and use of HPPs owned by the company's subsidiaries and affiliates (SA).


Decision:

1. In order to allow JSC HydroOGK to obtain appropriate status as a wholesale electricity and capacity market entity as well as to induce the Federal Tariff Service of the Russian Federation to enforce an electricity (capacity) tariff set by JSC HydroOGK on the wholesale electricity (capacity) market it is necessary to approve a scheme for the lease and operation of the property used to produce electricity that is owned by subsidiaries and affiliates of JSC HydroOGK and subsidiaries and affiliates controlled by the Hydro-Generation Business Unit attached to JSC RAO UES of Russia (Appendix 1 to the present decision).

2. Instruct the company's representatives on the Board of Directors and if necessary at the General Shareholders' Meetings of JSC HydroOGK to vote FOR adopting the decisions required to implement the scheme of lease and operation of the property used to produce electricity that is owned by subsidiaries and affiliates of JSC HydroOGK and subsidiaries and affiliates controlled by the Hydro-Generation Business Unit attached to JSC RAO UES of Russia.



Voting results:


"For" - 7 (V. B. Khristenko, A. B. Chubais, V. Yu. Sinyugin, B. I. Ayuev, V. A. Zubakin, D. V. Ponomarev, D. Khern)


"Against" - 1 (A. Abromavichus)

"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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