Minutes of 10.08.2010 №105

Minutes No. 105 dated August 10

Date and time of the Board of Directors meeting

(date and time of vote counting):                                      August 10, 2010, 6.00 p.m.

                                                                                     (Moscow time)

Minutes Dated:                                                                August 12, 2010

Form of vote:                                                                  absentee vote

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,

                                                                                    E. P. Volkov,

                                                                                    E. V. Dod,

                                                                                    V. M. Zimin,

                                                                                    B. Yu. Kovalchuk,

                                                                                    V. V. Kudryavy,

                                                                                    G. M. Kurtser,

                                                                                    N. G. Kutyin,

                                                                                    A. B. Malyshev,

                                                                                    M. V. Seliverstova,

                                                                                    R. R. Sharipov


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. Welfare assistance.

2. Concerning the company's participation in other companies.

3. Determination of company's (company's representatives) opinion regarding the agenda of the Board of Directors Meeting and General Shareholders' (participants) Meeting of subsidiaries and affiliates (SA) of the company.

3.1. Share encumbrance of organisations, which the subsidiaries and affiliates of the company are part of.

 

RESULTS OF VOTING ON AGENDA:

 

Matter 1: Welfare assistance.


Decision:

1.1. Approve compensation - free transfer of monetary assets in the amount of 5,920,000 (five million, nine hundred and twenty thousand) rubles in accordance with Appendix 1 of JSC RusHydro in order to eliminate the consequences of a terrorist act that took place on July 21, 2010, at the Baksanskaya HPP included in JSC RusHydro's subsidiary - Kabardino-Balkarsky branch - (further on referred to as the terrorist act) as well as to eliminate the consequences of a rock fall on the platform of water receiver of JSC RusHydro's subsidiary - Irganaiskaya HPP that took place on June 12, 2010 (further on referred to as the natural disaster) including material payouts (also through charity organisations) to the injured and the families of fatal casualties as a result of the terrorist attack and natural disaster (in order to compensate material damage caused or harm to health including compensation of moral harm).

1.2. Allow E. V. Dod, chairman of JSC RusHydro's Management Board, to finance the purposes within the limits stipulated by clause 1.1 of the present decision.

1.3. E. V. Dod, chairman of the Management Board, shall submit a report on payouts to the injured and the families of fatal casualties made in accordance with clause 1.1 of this decision by 30.10.2010 to the Board of Directors.


Voting results:

"For" - 12 (S. I. Shmatko, A. B. Ballo, E. P. Volkov, E. V. Dod, V. M. Zimin, B. Yu. Kovalchuk, V. V. Kudryavy, G. M. Kurtser, N. G. Kutyin, A. B. Malyshev, M. V. Seliverstova, R. R. Sharipov)

"Against" - 0

"Abstained" - 0

Decision made.


Matter 2: Concerning the company's participation in other companies.

Decision:

2.1. Approve participation of JSC RusHydro in RusHydro International (further on referred to the RusHydro International) a company limited by shares on the following terms:

- type of business entity RusHydro International: a company limited by shares;

- founder of RusHydro International: JSC RusHydro (sole founder);

- authorised capital of RusHydro International: 1,000,000 (one million) euro divided into 1,000,000 (one million) shares with face value of 1 (one) euro each;

- founder's share: 100 per cent;

- the form of share payment: monetary assets;

- RusHydro International is established in accordance with legislation of the Netherlands;

- Location: Netherlands.

2.2. Approve the financing limit of RusHydro International for the period 2010-2011 in the amount of 5,000,000,000 (five billion) rubles (Appendix 2) from non-tariff sources in form of monetary assets or other financial tools to:

- form the authorised capital of RusHydro International,

- cover expenses on pre-project works in the amount of 200,000,000 rubles,

- Investments into economically expedient projects approved by the Board of Directors of the company.

2.3. The Management Board of the company shall include expenses stipulated by clause 2.2 of this decision in the company's Business Plan for 2010 and 2011.

2.4. Determine the following in terms of control over the activities carried out by RusHydro International: expenses associated with management and preliminary works and a decision on participation/non-participation in an investment project are approved by the Board of Directors of JSC RusHydro.

2.5. Approve holding a post of member of the Board of Directors of RusHydro International by Evgeny Vyacheslavovich Dod, Chairman of JSC RusHydro's Management Board.

2.6. Approve holding a post of member of the Board of Directors of RusHydro International by Mikhail Alekseevich Mantrov, Deputy Chairman of JSC RusHydro's Management Board.

 

Voting results:

"For" - 11 (S. I. Shmatko, A. B. Ballo, E. P. Volkov, E. V. Dod, V. M. Zimin, B. Yu. Kovalchuk, V. V. Kudryavy, G. M. Kurtser, N. G. Kutyin, A. B. Malyshev, M. V. Seliverstova)

"Against" - 0

"Abstained" - 1 (R. R. Sharipov)

Decision made.

 

Matter 3: Determination of company's (company's representatives) opinion regarding the agenda of the Board of Directors Meeting and General Shareholders' (participants) Meeting of subsidiaries and affiliates (SA) of the company.


3.1. Share encumbrance of organisations, which the subsidiaries and affiliates of the company are part of.


Decision:

Instruct JSC RusHydro's representatives in the Board of Directors of JSC ESC RusHydro to vote FOR making the following decision regarding the issue on Encumbrance of shares in the authorised capital of organisations of which the subsidiaries and affiliates are part of:

Approve the transfer of shares (further on referred to as shares) beneficially owned by JSC ESC RusHydro (as related to rights attached to shares) of joint-stock companies mentioned in Appendix 3 on the following essential terms:

- JSC ESC RusHydro (Trustor) transfers all rights certified by shares excluding the right to dividends to JSC INTER RAO EES (Trustee);

- Trust management of shares is performed in favour of the Trustor and relates to only exercise of the rights attached to shares by the Trustee;

- The term of trust management is up to one year with a possibility of its prolongation for the same term;

- The size of remuneration to the Trustee for the trust management of shares of all joint-stock companies mentioned in Appendix 3, can not exceed 3,000 (three thousand) rubles per quarter including VAT.


Voting results:

"For" - 12 (S. I. Shmatko, A. B. Ballo, E. P. Volkov, E. V. Dod, V. M. Zimin, B. Yu. Kovalchuk, V. V. Kudryavy, G. M. Kurtser, N. G. Kutyin, A. B. Malyshev, M. V. Seliverstova, R. R. Sharipov)

"Against" - 0

"Abstained" - 0

Decision made.





Chairman of the Board of Directors                                     S. I. Shmatko


Secretary of the Board of Directors                                     M. M. Davydov

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