Minutes of 27.02.2009 №72

MINUTES No. 72

OF THE BOARD OF DIRECTORS MEETING


Date and time of the Board of Directors meeting

(date and time of vote counting):                                      February 27, 2009, 6.00 p.m.

                                                                                     (Moscow time)

Minutes Dated:                                                               March 02, 2009

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:      S. I. Shmatko

                                                                                   A. B. Ballo

                                                                                   S. S. Beloborodov

                                                                                   V. S. Belyaev

                                                                                   B. F. Vainzikher

                                                                                   E. P. Volkov

                                                                                   V. I. Danilov-Danilyan

                                                                                   V. A. Zubakin

                                                                                   S. V. Maslov

                                                                                   V. V. Tatsy

                                                                                   S. V. Serebryannikov

                                                                                   R. Z. Khamitov

                                                                                   A. V. Sharonov


In compliance with the 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. Report on the current financial and economic position of the company and plans of the company for 2009.

2. Approval of the company's business plan for 2009 (including the Investment Programme for 2009).

3. Concerning business priorities of the company: development of power grid infrastructure of the Far East Federal District.

4. Determining the offering price for additional company shares.

5. Approval of a decision on additional release of the company's securities.

6. Approval of the company's Prospectus.

7. Report on the implementation of the company's Insurance Coverage Programme for the fourth quarter of 2008.

8. On holding more than one office, by members of the company's Management Board, in the management bodies of other organisations.

9. Approval of the company's transactions.

9.1. Approval of interested-party transactions with JSC FGC UES.

9.2. Approval of an interested-party transaction with JSC INTER RAO UES.

10. On determination of company's (company's representatives) opinion regarding the issues put on agenda of the Board of Directors' Meetings as well as General Meetings of the company's subsidiaries and affiliates (SA).

10.1. Determination of opinions on issues related to the increase of authorised capital of JSC Ust-Srednekanskaya HPP.


RESULTS OF VOTING ON AGENDA:

 

Matter 1: Report on the current financial and economic position of the company and plans of the company for 2009.


Decision:

1.1. Take note of the Report on the Current Financial and Economic Position of the Company (Appendix 1).

1.2. The company's business plans for 2009 shall be reviewed within the frames of matter
No. 2 of the agenda of the present meeting of the Board of Directors. Approval of the company's business plan for 2009 (including the Investment Programme for 2009).

1.3. Instruct the company's Management Board to submit the issue of evaluating the current financial and economic position of the company and its business plan for 2009 in the context of crisis within the frame of a quarterly report on implementation of the company's business plan for 2009 (including the report on implementation of the Investment Programme for 2009) for consideration of the company's Board of Directors.

1.4. Announce an indicator - partial payment for the supplied electricity and power -
as a significant factor which impacts financial and economic position of the company in 2009.

1.5. In case an indicator "partial payment for the supplied electricity and power" decreases for more than 7 per cent of the planned value according to results of the reporting period (a quarter, six months, nine months, a year), to instruct the company's Management Board to introduce a procedure for preparing and submitting a monthly information on a financial and economic position of the company in the format developed by the indicated state bodies to the address of the Federal Agency for State Property Management and the Ministry of Energy of the Russian Federation, starting from the next quarter.


Voting results:

"For" - 12 (S. I. Shmatko, S. S. Beloborodov, V. S. Belyaev, B. F. Vainzikher, E. P. Volkov, V. I. Danilov-Danilyan, V. A. Zubakin, S. V. Maslov, V. V. Tatsy, S. V. Serebryannikov, R. Z. Khamitov, А. V. Sharonov)

"Against" - 1 (A. B. Ballo)

"Abstained" - 0

Decision made.

 

Matter 2: Approval of JSC RusHydro's business plan for 2009 (including the Investment Programme for 2009).


Decision:

2.1. Approve JSC RusHydro's business plan for 2009 (including the Investment Programme for 2009) (Appendix 2).

2.2. Until the company' business plan for 2009 is adopted by the company's Board
of Directors, allow the company's Management Board to finance the current activities in accordance with an approved Business plan of the company for 2009.

2.3. Take note of the plan numbers of JSC RusHydro's business plan for 2010-2011 contained
in JSC RusHydro's business plan for 2009.

2.4. Instruct the company's Management Board to prepare and submit operation cost reduction programme for consideration of the company's Board of Directors together with a business plan of JSC RusHydro for 2009.

 

Voting results:

"For" - 10 (S. I. Shmatko, V. S. Belyaev, B. F. Vainzikher, E. P. Volkov, V. I. Danilov-Danilyan, V. A. Zubakin, S. V. Maslov, S. V. Serebryannikov, R. Z. Khamitov, А. V. Sharonov)

"Against" - 1 (A. B. Ballo)

"Abstained" - 2 (S. S. Beloborodov, V. V. Tatsy)

Decision made.

 

 

Matter 3: Concerning business priorities of the company: development of power grid infrastructure of the Far East Federal District.


Decision:     

3.1. Take note of the information on a possible positive economic effect (hereinafter referred to as additional effect) of electricity sales, generated by the company's power generating facilities located in the Far East Federal District, for future supply of electricity to the People's Republic of China.

3.2. Consider it expedient to focus additional effects of the company on financing of a technological connection to electrical grids of the generating facilities of the company located on the territory of the Far Eastern federal district, and included into the company’s Investment Programme.

3.3. In case the volume of an additional effect exceeds the costs on connection to the electrical grids (clause 2 of the present resolution), the company's Management Board shall submit an issue on necessity of spending the above mentioned funds to finance design and construction of the power-generating facilities, stipulated in the company' Investment Programme on the territory of the Far Eastern Federal District for 2009, for consideration of the company's Board of Directors.

 

Voting results:

"For" - 10 (S. I. Shmatko, V. S. Belyaev, B. F. Vainzikher, E. P. Volkov, V. I. Danilov-Danilyan, V. A. Zubakin, S. V. Maslov, V. V. Tatsy, S. V. Serebryannikov, R. Z. Khamitov)

"Against" - 1 (A. B. Ballo)

"Abstained" - 2 (S. S. Beloborodov, A. V. Sharonov)

Decision made.

 

Matter 4: Determining the offering price for additional company shares.


Decision:

Defer consideration of the issue to a later date.


Voting results:

"For" - 13 (S. I. Shmatko, A. B. Ballo, S. S. Beloborodov, V. S. Belyaev, B. F. Vainzikher, E. P. Volkov,
V. I. Danilov-Danilyan, V. A. Zubakin, S. V. Maslov, V. V. Tatsy, S. V. Serebryannikov, R. Z. Khamitov, А. V. Sharonov)

"Against" - 0

"Abstained" - 0

Decision made.


Matter 5: Approval of a decision on additional release of the company's securities.


Decision:

Defer consideration of the issue to a later date.


Voting results:

"For" - 13 (S. I. Shmatko, A. B. Ballo, S. S. Beloborodov, V. S. Belyaev, B. F. Vainzikher, E. P. Volkov,
V. I. Danilov-Danilyan, V. A. Zubakin, S. V. Maslov, V. V. Tatsy, S. V. Serebryannikov, R. Z. Khamitov,
А. V. Sharonov)

"Against" - 0

"Abstained" - 0

Decision made.

  

Matter 6: Approval of the company's Prospectus.


Decision:

Defer consideration of the issue to a later date.

  

Voting results:

"For" - 13 (S. I. Shmatko A. B. Ballo, S. S. Beloborodov, V. S. Belyaev, B. F. Vainzikher, E. P. Volkov,
V. I. Danilov-Danilyan, V. A. Zubakin, S. V. Maslov, V. V. Tatsy, S. V. Serebryannikov, R. Z. Khamitov,
А. V. Sharonov)

"Against" - 0

"Abstained" - 0

Decision made.

 

Matter 7: Report on the implementation of the company's Insurance Coverage Programme for the fourth quarter of 2008.

 

Decision:

To take note of the Report on Implementation of the JSC RusHydro Insurance Coverage Programme for the fourth quarter of 2008 (Appendix 3).


Voting results:

"For" - 13 (S. I. Shmatko, A. B. Ballo, S. S. Beloborodov, V. S. Belyaev, B. F. Vainzikher, E. P. Volkov,
V. I. Danilov-Danilyan, V. A. Zubakin, S. V. Maslov, V. V. Tatsy, S. V. Serebryannikov, R. Z. Khamitov,
А. V. Sharonov)

"Against" - 0

"Abstained" - 0

Decision made.

  

Matter 8: On holding more than one office, by members of the company's Management Board, in the management bodies of other organisations.


Decision:

8.1. Approve holding of posts in the Boards of Directors of the Open Joint-Stock Company Trading System Administrator of the wholesale electric energy market (JSC ATS), Closed Joint-Stock Company Center for Financial Calculations (CJSC CFC) and Supervisory Board of Non-Commercial Partnership Hydropower Engineering of Russia, by Vasily Aleksandrovich Zubakin, member of the Management Board, Deputy Chairman of JSC RusHydro.

8.2. Approve holding of posts in the Board of Directors (Supervisory Boards) of the Open Joint-Stock Company South Yakutia Development Corporation, Open Joint-Stock Company Corporation for Development of Krasnoyarsk Territory, Limited Liability Company Corporation for Development of the Trans-Baikal, by Aleksandr Yuryevich Sergeev, member of JSC RusHydro's Management Board.

8.3. Approve holding of a post in the Board of Directors of the Open Joint-Stock Company First Power-Generating Company on the Wholesale Energy Market (JSC OGK-1) by Sergey Aleksandrovich Yushin, member of JSC RusHydro's Management Board.

Voting results:

"For" - 13 (S. I. Shmatko, A. B. Ballo, S. S. Beloborodov, V. S. Belyaev, B. F. Vainzikher, E. P. Volkov,
V. I. Danilov-Danilyan, V. A. Zubakin, S. V. Maslov, V. V. Tatsy, S. V. Serebryannikov, R. Z. Khamitov,
А. V. Sharonov)

"Against" - 0

"Abstained" - 0

Decision made.

  

Matter 9: Approving the company's transactions:


9.1.1. Approval of interested-party transactions with JSC FGC UES.

 

Decision:

9.1.1.1. Establish that a monthly rental payment under the Lease Contract concluded between JSC RusHydro and JSC FGC UEC shall amount to 5,978 (five thousand nine hundred and seventy-eight) rubles 41 kopecks, including VAT 18 per cent - 911 (nine hundred and eleven) rubles 96 kopecks.

The total amount of rental payment is 65,762 (sixty-five thousand, seven hundred and sixty-two) rubles 51 kopeck, including VAT 18 per cent - 10,031 (ten thousand and thirty-one) rubles 57 kopecks.

9.1.1.2. Approve contract for a part of earth-filled dams lease under 500 kV OPTL of the Vyatka-Votkinskaya HPP concluded between JSC RusHydro and JSC FGC UES being an interested party transaction under the following essential terms:

Parties to Contract:

The Lessee is JSC FGC UES

Lessor - JSC RusHydro

Subject of Contract:

The subject of the contract is transfer by the Lessor into temporary possession of the Lessee at a certain charge of the following immovable property - parts of the earth-filled dams No. 1 and No. 2 located right under the power transmission poles, with total area 1,666 sq. m. The leased parts of the earth-filled dams are hereinafter referred to as Objects, the earth-filled dams themselves are called Facilities.

The facilities located at the address: Perm Region, Chaykovskiy, HPP area, are transferred to the Lessee for accommodating and servicing of the 500 kV OPTL poles of the Vyatka-Votkinskaya HPP (hereinafter referred to as Poles).

Exact location of the Poles at the Facilities is shown on the boundary plan (Appendix No. 1 to the Contract).

The list of Facilities and Poles is given in Appendix No. 2 to the Contract.

Contract rental payment value:

A monthly rental payment under the Lease contract concluded between JSC RusHydro and JSC FGC UEC shall amount to 5,978 (five thousand, nine hundred and seventy-eight) rubles 41 kopecks, including VAT 18 per cent - 911 (nine hundred and eleven) rubles 96 kopecks.

The total amount of rental payment is 65,762 (sixty-five thousand, seven hundred and sixty-two) rubles 51 kopeck, including VAT 18 per cent - 10,031 (ten thousand and thirty-one) rubles 57 kopecks.

 Later on the rental payment shall be determined in the amount specified in the notices sent to the Lessee on rental payment recalculation. The payments under the contract shall be made in the currency of the Russian Federation.

Effective Period of Contract:

The contract is concluded for 11 (eleven) months, it comes into force from the date of its signing and applies to the relations of the Parties from January 01, 2009.

The Contract is deemed to be extended for an undefined period in case none of the Parties has notified each other in the written form on its disagreement with the contract prolongation at least one month before the expiration of its force.


Voting results:

"For" - 9 (A. B. Ballo, S. S. Beloborodov, V. S. Belyaev, B. F. Vainzikher, E. P. Volkov, V. I. Danilov-Danilyan, S. V. Serebryannikov, R. Z. Khamitov, A. V. Sharonov)

"Against" - 0

"Abstained" - 0

Decision made.

The members of the Board of Directors of JSC RusHydro S. I. Shmatko, V. V. Tatsy, S. V. Maslov, recognised as transaction interested parties, and V. A. Zubakin recognised as a person acting as the sole executive body of the company and in this respect not recognised as an independent director, did not take part in voting.

 

9.1.2. Approval of interested-party transactions with JSC FGC UES.

 

Decision:

9.1.2.1. Establish that a monthly rental payment under the Lease Contract concluded between JSC RusHydro and JSC FGC UEC shall amount to 1,705 (one thousand, seven hundred and five) rubles
83 kopecks, including VAT 18 per cent - 260 (two hundred and sixty) rubles 21 kopecks.

The total amount of rental payment is 18,764.13 (eighteen thousand, seven hundred and sixty-four) rubles 13 kopeck, including VAT 18 per cent - 2,862 (two thousand, eight hundred and sixty-two) rubles 33 kopecks.

9.1.2.2. Approve Contract for a part of earth-filled dams lease under 220 kV OPTL of the VGES-Izhevsk 1 circuit concluded between JSC RusHydro and JSC FGC UES being an interested party transaction under the following essential terms:

Parties to Contract:

The Lessee is JSC FGC UES

Lessor - JSC RusHydro

Subject of Contract:

The subject of the contract is transfer by the Lessor into temporary possession of the Lessee at a certain charge of the following immovable property - parts of the earth-filled dams No. 1 and No. 2 located right under the power transmission poles, with total area 437.6 sq. m. The leased parts of the earth-filled dams are hereinafter referred to as Objects, the earth-filled dams themselves are called Facilities.

The facilities located at the address: Perm Region, Chaykovskiy, HPP area, are transferred to the Lessee for accommodating and servicing of the 220 kV OPTL poles of the VGES-Izhevsk 1 circuit (hereinafter referred to as Poles).

Exact location of the Poles at the Facilities is shown on the cadastral plan of the plot (Appendix No. 1 to the Contract).

The list of Facilities and Poles is given in Appendix No. 2 to the Contract.

Contract rental payment value:

A monthly rental payment under the Lease Contract concluded between JSC RusHydro and JSC FGC UEC shall amount to 1,705 (one thousand, seven hundred and five) rubles 83 kopecks, including VAT 18 per cent - 260 (two hundred and sixty) rubles 21 kopecks.

The total amount of rental payment is 18,764.13 (eighteen thousand, seven hundred and sixty-four) rubles 13 kopeck, including VAT 18 per cent - 2,862 (two thousand, eight hundred and sixty-two) rubles 33 kopecks.

Later on the rental payment shall be determined in the amount specified in the notices sent to the Lessee on rental payment recalculation. The payments under the contract shall be made in the currency of the Russian Federation.

Effective Period of Contract:

The contract is concluded for 11 (eleven) months, it comes into force from the date of its signing and applies to the relations of the Parties from January 01, 2009.

The Contract is deemed to be extended for an undefined period in case none of the Parties has notified each other in the written form on its disagreement with the contract prolongation at least one month before the expiration of its force.


Voting results:

"For" - 9 (A. B. Ballo, S. S. Beloborodov, V. S. Belyaev, B. F. Vainzikher, E. P. Volkov, V. I. Danilov-Danilyan, S. V. Serebryannikov, R. Z. Khamitov, A. V. Sharonov)

"Against" - 0

"Abstained" - 0

Decision made.

The members of the Board of Directors of JSC RusHydro S. I. Shmatko, V. V. Tatsy, S. V. Maslov, recognised as transaction interested parties, and V. A. Zubakin recognised as a person acting as the sole executive body of the company and in this respect not recognised as an independent director, did not take part in voting.

 

9.2. Approval of an interested-party transaction with JSC INTER RAO UES.

 

Decision:

9.2.1. Determine the price of the trust deed concluded between JSC RusHydro (Trustor) and JSC INTER RAO UES (Trustee) for the rights on the shares of JSC OGK-1, which is an interested party transaction for JSC RusHydro in the amount of monetary assets being principal and extra fee of the trust deed, calculated in the following way:

- the Trustee obtains principal fee in the amount of up to 3,000 (three thousand) rubles per quarter, including VAT;

- the source of the extra fee paid to the Trustee is an increment of an actual dividend amount paid by JSC OGK-1 to the the Trustor (hereinafter referred to as Increment). The Increment is determined as a difference between the sum of the actual accrued dividends on the shares, the rights on which are transferred to the Management, according to the annual results, and a sum of dividends stipulated in the business plan of JSC OGK-1 excluding taxes on incomes. The Increment is distributed between the Trustor and the Trustee in the following way: 70 per cent (seventy per cent) shall remain at the Trustor's disposal, and 30 per cent (thirty per cent) are paid by the Trustor in the form of a fee to the Trustee. The above mentioned amount of fee includes VAT;

- the total price of the contract during its whole effective period shall not exceed two per cent
of the balance value of the JSC RusHydro's assets according to its accounting statements for the last reporting date preceding conclusion of the Contract.

9.2.2. Approve the trust deed of the rights for shares of JSC OGK-1 concluded between JSC HydroOGK and JSC INTER RAO UES (hereinafter referred to as the Contract) being an interested party transaction on the following essential terms:

- JSC RusHydro (Trustor) transfers to JSC INTER RAO UES (Trustee) all rights certified by ordinary registered shares of JSC OGK-1 owned by the Trustor in the amount 9,693,041,512 (nine billion, six hundred and ninety-three million, forty-one thousand, five hundred and twelve) pieces, state registration number is 1-01-65107-D;

- trust management is performed in favour of the Trustor and relates to exercising the rights to shares of JSC OGK-1 by the Trustee;

- effective period of the Contract is up to five years from the date of its conclusion with
a possibility of its automatic extension for the same period;

- the amount of fee paid to the Trustee for managing the rights on shares of JSC OGK-1 is a sum of monetary assets which is a principal and extra fee of the Trustee, and is calculated in the following way:

╖ the Trustee obtains principal fee in the amount of up to 3,000 (three thousand) rubles per quarter, including VAT;

╖ the source of the extra fee paid to the Trustee is an increment of an actual dividend amount paid by JSC OGK-1 to the the Trustor (hereinafter referred to as Increment). The Increment is determined as a difference between the sum of the actual accrued dividends on the shares, the rights on which are transferred to the Management, according to the annual results, and a sum of dividends stipulated in the business plan of JSC OGK-1 excluding taxes on incomes. The Increment is distributed between the Trustor and the Trustee in the following way: 70 per cent (seventy per cent) shall remain at the Trustor's disposal, and 30 per cent (thirty per cent) are paid by the Trustor in the form of a fee to the Trustee. The above mentioned amount of fee includes VAT;

╖ the total price of the Contract (the total amount of the fee paid to the Trustee) during its whole effective period shall not exceed two per cent of the balance value of the JSC RusHydro's assets according to its accounting statements for the last reporting date preceding the conclusion of the Contract.

9.2.3.1. Consider it expedient to conclude a trust deed in relation to the rights certified by ordinary registered shares of JSC OGK-1 owned by LLC Index of Energy - HydroOGK to the sum of 437,920,059 (four hundred and thirty-seven million, nine hundred and twenty thousand, fifty-nine) shares, state registration number is 1-01-65107-D, between LLC Index of Energy - HydroOGK and JSC INTER RAO UES under the terms similar to the terms of the trust deed in relation to the rights on the shares of JSC OGK-1 concluded between JSC RusHydro and JSC INTER RAO UES.

9.2.3.2. Instruct JSC RusHydro's representatives in the management bodies of LLC Index of Energy - HydroOGK to vote "FOR" making all decisions required for conclusion of the trust deed.

 

Voting results:

"For" - 10 (A. B. Ballo, S. S. Beloborodov, V. S. Belyaev, B. F. Vainzikher, E. P. Volkov, V. I. Danilov-Danilyan, V. V. Tatsy, S. V. Serebryannikov, R. Z. Khamitov, A. V. Sharonov)

"Against" - 0

"Abstained" - 0

Decision made.

The members of the Board of Directors of JSC RusHydro S. I. Shmatko, S. V. Maslov, recognised
as transaction interested parties, and V. A. Zubakin recognised as a person acting as the sole executive body of the company and in this respect not recognised as an independent director, did not take part in voting.

 

 

Matter 10: On determination of company's (company's representatives) opinion regarding the issues put on agenda of the Board of Directors' Meetings as well as General Meetings of the company's subsidiaries and affiliates (SA).


10.1. Determination of opinions on issues related to the increase of authorised capital of JSC Ust‑Srednekanskaya HPP.


Decision:

10.1.1. Instruct JSC RusHydro's representatives in the Board of Directors of JSC Ust‑Srednekanskaya HPP to vote FOR inclusion of the following matters in the agenda of General Shareholders' Meeting of JSC Ust-Srednekanskaya HPP:

-  determination of quantity, nominal value, category (type) of the company's declared shares and rights attached to these shares;

-  introduction of amendments and supplements to the company's Articles of Association;    

-  an increase in the company's authorised capital by offering additional shares.

10.1.2.  Instruct JSC RusHydro's representatives on the General Shareholders' Meeting of JSC Ust-Srednekanskaya HPP to vote "FOR" making the following decision in relation to the determination of quantity, nominal value, category (type) of the company's declared shares and rights attached to these shares:

1) Determine a limit number of declared registered ordinary shares of JSC Ust-Srednekanskaya HPP to the sum of 4,000,000,000 (four billion) pieces with nominal value of 1 (one) ruble each for the total amount of 4,000,000,000 (four billion) rubles;

2) ordinary registered shares declared by JSC Ust-Srednekanskaya HPP to be released provide their holders with rights stipulated in clause 6.2 of the Articles of Association of JSC Ust-Srednekanskaya HPP.

10.1.3. Instruct JSC RusHydro's representatives in the General Shareholders' Meeting of JSC Ust-Srednekanskaya HPP to vote "FOR" making the following decision in relation to the Increase of JSC Ust-Srednekanskaya HPP's authorised capital by offering additional shares:

- increase the authorised capital of JSC Ust-Srednekanskaya HPP in the form of placement of the registered ordinary shares of to the sum of 4,000,000,000 (four billion) pieces with nominal value
of 1 (one) ruble each for the total amount of 4,000,000,000 (four billion) rubles;

- method of placement - private subscription, group of persons among which additional shares are assumed to be placed is the Russian Federation represented by authorised state body, JSC Kolymaenergo;

- share placing price is the price determined by the Board of Directors of JSC Ust-Srednekanskaya HPP in accordance with articles 36, 77 of the Federal Law On Joint-Stock Companies based on the opinion of an independent appraiser, but not less than their nominal value;

- the form of share payment - monetary assets, non-monetary assets (property owned by JSC Kolymaenergo: Constructions in progress of the Ust-Srednekanskaya HPP, property rights (accounts receivable), other movable and immovable property);

- in order to determine a market value of the property used to pay for the placed additional share of JSC Ust-Srednekanskaya HPP, an independent appraise (appraisers) shall be involved from among the independent appraisers listed in Appendix 4 to the present resolution;

- procedure for share payment - the shares shall be paid at their placement in full.

10.1.4. Instruct JSC RusHydro's representatives in the Board of Directors of JSC Kolymaenergo to vote "FOR" making the following decisions on the issue relating to Determination of the position on the agenda of the meeting of JSC Ust-Srednekanskaya HPP's management bodies which is caused by an increase of the authorised capital of JSC Ust-Srednekanskaya HPP under the terms stipulated by the resolution.

10.1.5. Establish that a resolution on determination of the position relating to JSC Kolymaenergo's participation (change of the participation share) in JSC Ust-Srednekanskaya HPP (in the form of payment with JSC Kolymaenergo's property for the additional shares of JSC Ust‑Srednekanskaya HPP) can be made by JSC RusHydro's Board of Directors only in case purchasing of additional shares of JSC Ust-Srednekanskaya HPP by JSC Kolymaenergo does not lead to a decrease of the Russian Federation's share in the authorised capital of JSC Ust-Srednekanskaya HPP (relative to the share developed as a result of placing additional issue shares of JSC Ust-Srednekanskaya HPP, registered by FSFM of Russia on 29.04.2008, state registration number of the issue is 1-01-55315-Е-001D).


Voting results:

"For" - 13 (S. I. Shmatko, A. B. Ballo, S. S. Beloborodov, V. S. Belyaev, B. F. Vainzikher, E. P. Volkov,
V. I. Danilov-Danilyan, V. A. Zubakin, S. V. Maslov, V. V. Tatsy, S. V. Serebryannikov, R. Z. Khamitov,
А. V. Sharonov)

"Against" - 0

"Abstained" - 0

Decision made.


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






Chairman of the Board of Directors                                                               S. I. Shmatko

 

Secretary of the Board of Directors                                                               M. M. Davydov



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