Minutes of 21.03.2008 №49

MINUTES No. 49

OF THE BOARD OF DIRECTORS MEETING


Date and time of the Board of Directors meeting

(date and time of vote counting):                                       March 21, 2008, 6:00 p.m.

                                                                                     (Moscow time)

Minutes Dated:                                                                 March 24, 2008.

Form of vote:                                                                   By questioning

Site of vote counting:                                                       Mosсow, Arkhitektora Vlasova Str., 51

Number of elected members of the Board of Directors           13

Members of the Board of Directors present at meeting:          V. B. Khristenko 

                                                                                      A. B. Chubais

                                                                                      B. I. Ayuev

                                                                                      D. A. Askinadze

                                                                                      Yu. M. Medvedev

                                                                                      D. V. Ponomarev

                                                                                      A. N. Rappoport

                                                                                      Seppo Remes

                                                                                      V. Yu. Sinyugin

                                                                                      Yu. A. Udaltsov

                                                                                      Ya. M. Urinson

                                                                                      R. Z. Khamitov

                                                                                      David 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. Approval of decisions on additional release of securities.

2. Approval of the company's Prospectus.

3. Charity and sponsorship activities of the company.


RESULTS OF VOTING ON AGENDA:

 

Matter 1: Approval of decisions on additional release of securities.

 

Decision:

1.1. Approve the decision on additional release of securities of JSC HydroOGK (ordinary registered uncertified shares) offered by way of converting ordinary registered uncertified shares of JSC Irganayskaya HPP into additional ordinary registered shares of JSC HydroOGK in the course of affiliation, according to Appendix 1.

1.2. Approve the decision on additional release of securities of JSC HydroOGK (ordinary registered uncertified shares) offered by way of converting ordinary registered uncertified shares of JSC Cascade of NCh HPPs into additional ordinary registered shares of JSC HydroOGK in the course of affiliation, according to Appendix 2.

1.3. Approve the decision on additional release of securities of JSC HydroOGK (ordinary registered uncertified shares) offered by way of converting ordinary registered uncertified shares of Open Joint-Stock Company HydroOGK State Holding Company into shares of the company, according to Appendix 3. The shares are offered when Open Joint Stock Company HydroOGK State Holding Company is separated from Russian Open Joint Stock Company of Power Engineering and Electrification UES of Russia and simultaneously merged with JSC RusGydro.

1.4. Approve the decision on additional release of securities of JSC HydroOGK (ordinary registered uncertified shares) offered by way of converting ordinary registered uncertified shares of Open Joint-Stock Company HydroOGK State Holding Company into shares of the company, according to Appendix 4. The shares are offered when Open Joint Stock Company HydroOGK State Holding Company is separated from Russian Open Joint Stock Company of Power Engineering and Electrification UES of Russia and simultaneously merged with JSC RusGydro.

1.5. Approve the decision on additional release of securities of JSC HydroOGK (ordinary registered uncertified shares) offered by way of converting ordinary registered uncertified shares of Open Joint-Stock Company Minority Holding HydroOGK into shares of the company, according to Appendix 5. The shares are offered when Open Joint Stock Company Minority Holding HydroOGK is separated from Russian Open Joint Stock Company of Power Engineering and Electrification UES of Russia and simultaneously merged with JSC RusGydro.

1.6. Approve the decision on additional release of securities of JSC HydroOGK (ordinary registered uncertified shares) offered by way of converting preferred registered uncertified shares of Open Joint-Stock Company Minority Holding HydroOGK into shares of the company, according to Appendix 6. The shares are offered when Open Joint Stock Company Minority Holding HydroOGK is separated from Russian Open Joint Stock Company of Power Engineering and Electrification UES of Russia and simultaneously merged with JSC RusGydro.


Voting results:

"For" - 13 (V. B. Khristenko, A. B. Chubais, B. I. Ayuev, D. A. Askinadze, Yu. M. Medvedev, D. V. Ponomarev, A. N. Rappoport, Seppo Remes, V. Yu. Sinyugin, Yu. A. Udaltsov, Ya. M. Urinson, R. Z. Khamitov, David Khern)

"Against" - 0

"Abstained" - 0

Decision made.



Matter 2: Approval of the company's Prospectus.


Decision:

Approve JSC HydroOGK's Prospectus (ordinary registered uncertified shares) in accordance with Appendix 7.


Voting results:

"For" - 13 (V. B. Khristenko, A. B. Chubais, B. I. Ayuev, D. A. Askinadze, Yu. M. Medvedev, D. V. Ponomarev, A. N. Rappoport, Seppo Remes, V. Yu. Sinyugin, Yu. A. Udaltsov, Ya. M. Urinson, R. Z. Khamitov, David Khern)

"Against" - 0

"Abstained" - 0

Decision made.



Matter 3: Charity and sponsorship activities of the company.


Decision:

Approve sponsor support provided by the company to Closed Joint Stock Company Moscow Easter Festival in 2008 in order to finance the Seventh Moscow Easter Festival that was held throughout 27.04.2008 to 09.05.2008, the amount of this sponsor support was 17 million rubles.


Voting results:

"For" - 8 (A. B. Chubais, B. I. Ayuev, D. V. Ponomarev, Seppo Remes, V. Yu. Sinyugin, Yu. A. Udaltsov, Ya. M. Urinson, R. Z. Khamitov)

"Against" - 3 (V. B. Khristenko, Yu. M. Medvedev, D. A. Askinadze)

"Abstained" - 2 (A. N. Rappoport, David Khern)

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                                   M. M. Davydov

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