Minutes of 17.06.2010 №101

MINUTES No. 101

OF THE BOARD OF DIRECTORS MEETING


Date and time of the Board of Directors Meeting
(date and time of vote counting):                                      June 17, 2010, 6.00 p.m.

                                                                                     (Moscow time)


Minutes Dated:                                                                June 18, 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

                                                                                     S. S. Beloborodov

                                                                                     B. F. Vainzikher

                                                                                     V. I. Danilov-Danilyan

                                                                                     V. A. Zubakin

                                                                                     S. V. Maslov

                                                                                     S. V. Serebryannikov

                                                                                     O. V. Surikov

                                                                                     V. V. Tatsy

                                                                                     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. Holding more than one office by the company's Chairman of the Management Board and members of Management Board in other organisations.

2. Consideration of the report of the Chairman of the Strategy Committee on the results of the 2009-2010 corporate year.

3. Consideration of the report of the Chairman of the Audit Committee on the results of the 2009-2010 corporate year.

4. Consideration of the report by the Chairman of the Human Resources and Remuneration Committee on the activity results of the 2009-2010 corporate year.

5. Consideration of the report of the Chairman of the Investments Committee on the results of 2009-2010 corporate year.

6. Consideration of the report of the Chairman of the Reliability, Energy Efficiency and Innovations Committee on the results of the 2009-2010 corporate year.

7. Approving the company's transactions:

7.1. Approval of the transaction of JSC Sevkavkazenergo which is an interested party transaction.

7.2. Approval of the transactions with JSC Irkutskenergo and JSC TGK-1 which are interested party transactions.

7.3. Settlement of transactions by the company related to transfer of property (property rights) without compensation to the third persons.

8. Determination of the company's position (company's representatives) on the agenda issues of the meetings of the Boards of Directors and General Shareholders' meetings of subsidiaries and affiliates of the company.

8.1. Settlement of a major transaction by JSC OGK-1.

8.2. Participation (change in participation share) of subsidiaries and affiliates of the company in other organisations.

9. Approval of the report on execution of key performance indicators of the company for the first quarter of 2010.

 

RESULTS OF VOTING ON AGENDA:

 

Matter 1: Holding more than one office by the company's Chairman of the Management Board and members of Management Board in other organisations.


Decision:

Approve holding posts of a member of the Board of Directors of Close Joint-Stock Company Centre for Financial Calculations and Open Joint-Stock Company INTER RAO UES by Evgeny Vyacheslavovich Dod, Chairman of Board of Directors.



Voting results:

"For" - 11 (S. I. Shmatko, S. S. Beloborodov, B. F. Vainzikher, V. I. Danilov-Danilyan, V. A. Zubakin, S. V. Maslov, S. V. Serebryannikov, O. V. Surikov, V. V. Tatsy, R. Z. Khamitov, A. V. Sharonov)

"Against" - 0

"Abstained" - 0

Decision made.

 

Matter 2: Consideration of the report of the Chairman of the Strategy Committee on the results of the 2009-2010 corporate year.


Decision:

To take note of the report of the Chairman of the Strategy Committee on the company's results in the 2009-2010 corporate year (Appendix 1).

 

Voting results:

"For" - 11 (S. I. Shmatko, S. S. Beloborodov, B. F. Vainzikher, V. I. Danilov-Danilyan, V. A. Zubakin, S. V. Maslov, S. V. Serebryannikov, O. V. Surikov, V. V. Tatsy, R. Z. Khamitov, A. V. Sharonov)

"Against" - 0

"Abstained" - 0

Decision made.

 

Matter 3: Consideration of the report by the Chairman of the Audit Committee on the results of the 2009-2010 corporate year.


Decision:

Take note of the report of the Chairman of the Audit Committee on the results of the 2009-2010 corporate year (Appendix 2).


Voting results:

"For" - 11 (S. I. Shmatko, S. S. Beloborodov, B. F. Vainzikher, V. I. Danilov-Danilyan, V. A. Zubakin, S. V. Maslov, S. V. Serebryannikov, O. V. Surikov, V. V. Tatsy, R. Z. Khamitov, A. V. Sharonov)

"Against" - 0

"Abstained" - 0

Decision made.

 

Matter 4: Consideration of the report by the Chairman of the Human Resources and Remuneration Committee on the activity results of the 2009-2010 corporate year.


Decision:

Take note of the report of the Chairman of the Human Resources and Remuneration Committee on the company's results in the 2009-2010 corporate year (Appendix 3).


Voting results:

"For" - 11 (S. I. Shmatko, S. S. Beloborodov, B. F. Vainzikher, V. I. Danilov-Danilyan, V. A. Zubakin, S. V. Maslov, S. V. Serebryannikov, O. V. Surikov, V. V. Tatsy, R. Z. Khamitov, A. V. Sharonov)

"Against" - 0

"Abstained" - 0

Decision made.

 

Matter 5: Consideration of the report of the Chairman of the Investments Committee on the results of 2009-2010 corporate year.


Decision:

Take note of the report of the Chairman of the Investments Committee on the results of the 2009-2010 corporate year (Appendix 4).


Voting results:

"For" - 11 (S. I. Shmatko, S. S. Beloborodov, B. F. Vainzikher, V. I. Danilov-Danilyan, V. A. Zubakin, S. V. Maslov, S. V. Serebryannikov, O. V. Surikov, V. V. Tatsy, R. Z. Khamitov, A. V. Sharonov)

"Against" - 0

"Abstained" - 0

Decision made.

 

Matter 6: Consideration of the report of the Chairman of the Reliability, Energy Efficiency and Innovations Committee on the results of the 2009-2010 corporate year.


Decision:

To take note of the report of the Chairman of the Reliability, Energy Efficiency and Innovations Committee on the results of the 2009-2010 corporate year (Appendix 5).


Voting results:

"For" - 11 (S. I. Shmatko, S. S. Beloborodov, B. F. Vainzikher, V. I. Danilov-Danilyan, V. A. Zubakin, S. V. Maslov, S. V. Serebryannikov, O. V. Surikov, V. V. Tatsy, R. Z. Khamitov, A. V. Sharonov)

"Against" - 0

"Abstained" - 0

Decision made.

 

Matter 7: Approving the company's transactions:


7.1. Approval of the transaction of JSC Sevkavkazenergo which is an interested party transaction.


Decision:

Approve conclusion of Supplementary Agreement No. 4 to the purchase and sale of electricity (power) agreement No. 21-04/06 dated 01.04.2006 between JSC Sevkavkazenergo and JSC RusHydro, which is an interested party transaction (Appendix 6).


Voting results:

"For" - 9 (S. I. Shmatko, S. S. Beloborodov, B. F. Vainzikher, V. I. Danilov-Danilyan, S. V. Maslov, S. V. Serebryannikov, O. V. Surikov, V. V. Tatsy, A. V. Sharonov)

"Against" - 0

"Abstained" - 0

Decision made.

R. Z. Khamitov, member of the company's collective executive body, who is not considered an independent director in this connection, and V. A. Zubakin, who was the person executing functions of the company's sole executive body within a year preceding a decision, and who is not recognised as an independent director did not participate in voting.

 

7.2. Approval of the transactions with JSC Irkutskenergo and JSC TGK-1 which are interested party transactions.

 

Decision:

7.2.1.1. Establish that the cost of services rendered by JSC RusHydro (by JSC RusHydro's branch - KorUnG ) and purchased by JSC Irkutskenergo according to the paid services contract between JSC RusHydro and JSC Irkutskenergo, which is an interested party transaction, is 1,239,000 (one million, two hundred and thirty-nine thousand) rubles 00 kopecks, including VAT 18 per cent, which is 189,000 (one hundred and eighty-nine thousand) rubles 00 kopecks.

7.2.1.2. To approve the conclusion of a fee-based service contract between JSC RusHydro and JSC Irkutskenergo representing an interested party transaction, under the following essential terms:

Parties to Contract:

Executor - JSC RusHydro (JSC RusHydro's branch - KorUnG).

Customer - JSC Irkutskenergo.

Subject of Contract:

The Executor agrees on the terms of the Contract that he shall provide the Customer with the services on arrangement and operation of regional competitions of the HPP operating personnel for the three teams of the Customer: Branch of JSC Irkutskenergo - the Bratskaya HPP, branch of JSC Irkutskenergo - the Irkutskaya HPP, branch of JSC Irkutskenergo - the Ust-Ilimskaya HPP on the territory of the JSC Irkutskenergo branch - the Bratskaya HPP (Irkutsk region, Bratsk) from May 31 till June 4, 2010, and Customer agrees that he shall pay for the services provided.

Contract Price:

The Contract price is 1,239,000 (one million two hundred and thirty-nine thousand) rubles 00 kopecks, including VAT 18 per cent, which is 189,000 (one hundred and eighty-nine thousand) rubles 00 kopecks.

Term of Providing Services:

Commencement date of providing services - May 31, 2010.

End date of providing services - June 4, 2010.

Effective Period of Contract:

The Contract comes into force from the date of its signing by the Parties, applies to the relations of the parties from May 31, 2010 and is valid until complete fulfilment of obligations by the Parties as per the Contract.

 

Voting results:

"For" - 8 (S. I. Shmatko, B. F. Vainzikher, V. I. Danilov-Danilyan, S. V. Maslov, S. V. Serebryannikov, O. V. Surikov, V. V. Tatsy, A. V. Sharonov)


"Against" - 0

"Abstained" -1 (S. S. Beloborodov)

Decision made.

R. Z. Khamitov, member of the company's collective executive body, who is not considered an independent director in this connection, and V. A. Zubakin, who was the person executing functions of the company's sole executive body within a year preceding a decision, and who is not recognised as an independent director did not participate in voting.

 

Decision:

7.2.2.1. Establish that the cost of services rendered by JSC RusHydro (by JSC RusHydro's branch - KorUnG ) and purchased by JSC TGK-1 according to the paid services contract between JSC RusHydro and JSC TGK-1, which is an interested party transaction, is 413,000 (four hundred and thirteen thousand) rubles 00 kopecks, including VAT 18 per cent, which is 63,000 (sixty-three thousand) rubles 00 kopecks.

7.2.2.2. Approve conclusion of the paid services contract between JSC RusHydro and JSC TGK-1, which is an interested party transaction on the following terms:

Parties to Contract:

Executor - JSC RusHydro (JSC RusHydro's branch - KorUnG).

Customer - JSC TGK-1.

Subject of Contract:

The Executor agrees on the terms of the Contract that he shall provide the Customer with the services on arrangement and conduction of regional competitions of the operating personnel of HPP for the Customer's team on the territory of the branch of JSC Generating Company Nizhnekamskaya HPP (Republic of Tatarstan, Naberezhnye Chelny) from June 14 till June 20, 2010, and Customer agrees that he shall pay for the services provided.

Contract Price:

The contract price is 413,000 (four hundred and thirteen thousand) rubles 00 kopecks, including VAT 18 per cent, which is 63,000 (sixty-three thousand) rubles 00 kopecks.

Term of Providing Services:

Commencement date of providing services - June 14, 2010.

End date of providing services - June 20, 2010.

Effective Period of Contract:

The Contract comes into force from the date of its signing by the Parties, applies to the relations of the parties from June 14, 2010, and is valid until complete fulfilment of obligations by the Parties as per the Contract.

 

Voting results:

"For" - 8 (S. I. Shmatko, S. S. Beloborodov, V. I. Danilov-Danilyan, S. V. Maslov, S. V. Serebryannikov, O. V. Surikov, V. V. Tatsy, A. V. Sharonov)

"Against" - 0

"Abstained" - 0

Decision made.


Members of JSC RusHydro's Board of Directors, R. Z. Khamitov, member of the company's collective executive body, who is not recognised as an independent director, and V. A. Zubakin, who was the person executing functions of the company's sole executive body within a year preceding a decision, and who is not recognised as an independent director, B. F. Vainzikher, recognised as a transaction interested party, did not participate in voting.

 

7.3. Settlement of transactions by the company related to transfer of property (property rights) without compensation to the third persons.

 

Decision:

7.3.1.1. Approve conclusion of the contract between JSC RusHydro and State institution Customer Service of the Ministry of Construction of Khabarovsk Territory, the subject of which is transfer of property without compensation (property rights) to the third persons on the following terms.

Parties to Contract:

Donor - JSC RusHydro;

Donee - State institution Customer Service of the Ministry of Construction of Khabarovsk Territory (location: 680000, Khabarovsk, Muravyova-Amurskogo str., 32; INN 2721093076).

Subject of Contract:

The Donor transfers monetary assets in the form of donation to the Donee to the sum of 9,800,000 (nine million, eight hundred thousand) rubles. The Donee receives the monetary assets and agrees that he shall use them to finance completion of construction of Anyuysky fish hatchery (compensatory measures provided for in as part of approved construction project of Bureyskaya HPP).

Contract Price:

9,800,000 (nine million, eight hundred thousand) rubles.

Effective Period of Contract:


The Contract comes into force from the date of its signing by the Parties and is valid until complete fulfilment of obligations by the Parties as per the Contract.

7.3.1.2. Establish that the transfer of monetary assets to the Donee under the Contract mentioned in clause 7.3.1.1. of the present decision is performed at the expense of the company's profit.


Voting results:

"For" - 10 (S. I. Shmatko, B. F. Vainzikher, V. I. Danilov-Danilyan, V. A. Zubakin, S. V. Maslov, S. V. Serebryannikov, O. V. Surikov, V. V. Tatsy, R. Z. Khamitov, A. V. Sharonov)

"Against" - 0

"Abstained" -1 (S. S. Beloborodov)

Decision made.


Decision:

7.3.2.1. Approve conclusion of the contract between JSC RusHydro and Municipal budgetary institution Capital Construction Management +, the subject of which is transfer of property without compensation (property rights) to third parties on the following terms.

Parties to Contract:

Donor - JSC RusHydro;

Donee - Municipal budgetary institution Capital Construction Management + (location: Russia, 662606, Minusinsk, Sovetskaya Str., 39; INN 2455008889).

Subject of Contract:

The Donor transfers monetary assets in the form of donation to the Donee in the amount of 16,000,000 (sixteen million) rubles. The Donee receives the monetary assets and agrees that he shall use them for financing the works on updating design estimate documentation for completion of work on engineering protection on the residential zone of Minusinsk.

Contract Price:

16,000,000 (sixteen million) rubles.

Effective Period of Contract:

The Contract comes into force from the date of its signing by the Parties and is valid until complete fulfilment of obligations by the Parties as per the Contract.

7.3.2.2. Establish that the transfer of monetary assets to Donee as under the Contract mentioned in clause 7.3.2.1. of the present decision is performed at the expense of the company's profit.

 

Voting results:

"For" - 11 (S. I. Shmatko, S. S. Beloborodov, B. F. Vainzikher, V. I. Danilov-Danilyan, V. A. Zubakin, S. V. Maslov, S. V. Serebryannikov, O. V. Surikov, V. V. Tatsy, R. Z. Khamitov, A. V. Sharonov)

"Against" - 0

"Abstained" - 0

Decision made.

 

Matter 8: Determination of the company's position (company's representatives) on the agenda issues of the meetings of the Boards of Directors and General Shareholders' meetings of subsidiaries and affiliates of the company.

 

8.1. Settlement of a major transaction by JSC OGK-1.


Decision:

Instruct the company's representatives in the Board of Directors of JSC OGK-1 to vote FOR making the following decision on the issue related to Approval of the Terms of the Conclusion of the Main Contract for Construction of Combined Cycle Power Unit PGU-450 (including delivery of equipment) as a Major Transaction:

Approve conclusion of the main contract for construction of combined cycle power unit PGU-450 (including delivery of equipment) for the amount of 19,246,608,788 (nineteen billion, two hundred and forty-six million, six hundred and eight thousand seven hundred and eighty-eight) rubles with JSC VO Tekhnopromeksport, which is a major transaction for the company, on the following terms:

1. Parties to Contract: General contractor - VO Tekhnopromeksport, customer - JSC OGK-1.

2. Subject of Contract: The General Contractor agrees that he shall execute the work on project construction - combined cycle power unit with a capacity of 450 MW (PGU-450 MW) (calculated power 491 MW (gross) at an annual outside air temperature minus 7.8 ╟C) at the construction site of the branch of JSC OGK-1 - Urengoyskaya GRES, with all requires and related buildings, facilities, equipment, material and technical resources, technical security equipment set, instruments, galleries, scaffolds, internal (within the construction site) engineering utility systems, hand to Customer the facility, completed, fully equipped, mounted, tested and ready for connection to the external infrastructure and putting into operation, and securing achievement of guaranteed performance indicators


3. Guaranteed Performance Indicators: The General Contractor shall provide for achievement of the following "guaranteed performance" (with the following parameters: outside air temperature - minus 7.8 ╟C, pressure - 101 kPa, humidity - 78 per cent:

3.1. Estimated total capacity at the generator terminals (gross) - 491,500 kW;

3.2. Electric efficiency of the power unit (gross) - at least 50.7 per cent;

3.3. Consumption rate of fuel equivalent per supplied electric power - not more than 242.3 g.f.e/kWh;

3.4. Total electric capacity of auxiliary power - not more than 9.8 MW;

3.5. Exhaust emission guarantees:

NOx: not greater than 50 mg/nm3d;

3.6. Equivalent noise level at 1 (one) meter from the equipment - not more than 85 dBA.

4. Scope of work on project construction is defined on the basis of Technical assignment.

5. The main Contract provides for sub-letting of rights and obligations in favour of the General Contractor against equipment purchase orders concluded by the company with the following suppliers:

5.1. Under Contract No. 4-310208 dated 20.02.2008 with JSC Power Machines for the delivery of two gas turbines and generators;

5.2. Under Contract No. ОГК-000236 of 23.12.2009 with JSC Power Machines for the delivery of a steam turbine and a generator;

5.3. Under Contract No. ОГК-000235 of 23.12.2009 with JSC EMAlyans for the delivery of two recovery boilers;

5.4. Under Contract No. ОГК-000245 of 15.01.2010 with JSC PromGidroEnergoMash for the delivery of two bridge cranes.

6. Total Contract Price: 19,246,608,788 (nineteen billion, two hundred and forty-six million, six-hundred and eight thousand, seven hundred and eighty-eight) rubles including VAT.

7. Performance time - no more than 28 (twenty-eight) months from the start date. In this case the works must be completed by 30.09.2012, at latest.


Voting results:

"For" - 9 (S. I. Shmatko, S. S. Beloborodov, B. F. Vainzikher, V. I. Danilov-Danilyan, V. A. Zubakin, S. V. Maslov, S. V. Serebryannikov, R. Z. Khamitov, A. V. Sharonov)

"Against" - 1 (O. V. Surikov)

"Abstained" - 0

Decision made.

 

8.2. Participation (change in participation share) of the SA of the company in other organisations.


Decision:

Instruct JSC RusHydro's representatives in the Board of Directors of JSC OGK-1 to vote FOR making the following decision:

Approve change in interest of JSC OGK-1 in Open Joint-Stock Company Department of Support Service Vehicles by means of acquisition of 400 ordinary registered uncertified shares of JSC Department of Support Service Vehicles on the following terms:

- method of acquisition: conclusion of share purchase and sale contracts between JSC OGK-1 and minority shareholders - N. A. Burakov, Yu. V. Parfinchuk, S. V. Shvetsov;

- share of JSC OGK-1 participation in the authorised capital of JSC Department of Support Service Vehicles before acquisition of shares: 99.88989 per sent;

- share of JSC OGK-1 participation in the authorised capital of JSC Department of Support Service Vehicles after acquisition of shares: 100 per cent;

- share nominal price: 100 rubles;

- acquisition price of 400 shares: no more than 46,000 rubles.

- the form of share payment: monetary assets.

 

Voting results:

"For" - 11 (S. I. Shmatko, S. S. Beloborodov, B. F. Vainzikher, V. I. Danilov-Danilyan, V. A. Zubakin, S. V. Maslov, S. V. Serebryannikov, O. V. Surikov, V. V. Tatsy, R. Z. Khamitov, A. V. Sharonov)

"Against" - 0

"Abstained" - 0

Decision made.

 

Matter 9: Approval of the report on execution of key performance indicators of the company for the first quarter of 2010.


Decision:

To approve the report on execution of key performance indicators of JSC RusHydro for the first quarter of 2010 (Appendix 7).



Voting results:

"For" - 11 (S. I. Shmatko, S. S. Beloborodov, B. F. Vainzikher, V. I. Danilov-Danilyan, V. A. Zubakin, S. V. Maslov, S. V. Serebryannikov, O. V. Surikov, V. V. Tatsy, R. Z. Khamitov, A. V. Sharonov)

"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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