Minutes of 31.05.2010 №99

MINUTES No. 99

OF THE BOARD OF DIRECTORS MEETING


Date and time of the Board of Directors meeting

(date and time of vote counting):                                      May 31, 2010, 6.00 p.m.

                                                                                     (Moscow time)


Minutes Dated:                                                                June 02, 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

                                                                                    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. Approval of the company's transactions.

1.1. Approval of interested party transactions connected with entering into additional agreements to loan contracts.

2. 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).

2.1. Determination of agenda for the general stockholders' meetings of subsidiaries and affiliates.

2.2. Defining the position on the issue of encumbrance of shares in the authorised capitals of the organisations
of which the subsidiaries and affiliates are part of.

 

RESULTS OF VOTING ON AGENDA:

 

Matter 1: Approval of the company's transactions.


1.1. Approval of interested party transactions connected with entering into additional agreements to loan contracts.


Decision:

1.1.1.1. Establish that according to the additional agreement to the loan agreement No. VM-02 dated 24.12.2007 between JSC RusHydro and Vasily Aleksandrovich Zubakin, member of the Board of Directors:

- The sum of loan is 16,282,522 (sixteen million, two hundred and eighty-two thousand, five hundred and twenty-two) rubles;

- The loan interest rate is zero per cent per year.

1.1.1.2. Approve conclusion of the additional agreement to the loan agreement No. VM-02 dated 24.12.2007 between JSC RusHydro and Vasily Aleksandrovich Zubakin, member of the Board of Directors, which is an interested party transaction, on the following terms:

- Borrower - Vasily Aleksandrovich Zubakin;

- Lender - JSC RusHydro;

- The sum of the loan - 16,282,522 (sixteen million, two hundred and eighty-two thousand, five hundred and twenty-two) rubles;

- Currency of the loan - rubles of the Russian Federation;

- The loan interest rate is zero per cent per year;

- The term of loan - till September 14, 2012.


Voting results:

"For" - 10 (S. I. Shmatko, A. B. Ballo, 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, recognised as a transaction interested party and 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.


1.1.2.1. Establish that according to the additional agreement to the loan agreement No. VM-13 dated 21.01.2008 between JSC RusHydro and Yury Vasilyevich Gorbenko, member of the Board of Directors, Managing Director, Head of Far East Division of JSC RusHydro:

- The sum of the loan is 14,925,645 (fourteen million, nine hundred and twenty-five thousand six hundred and forty-five) rubles;

- The loan interest rate is zero per cent per year.

1.1.2.2. Approve conclusion of the additional agreement to the loan agreement No. VM-13 dated 21.01.2008 between JSC RusHydro and Yury Vasilyevich Gorbenko, member of the Board of Directors, Managing Director, Head of Far East Division of JSC RusHydro, which is an interested party transaction, on the following essential terms:

- Borrower - Yury Vasilyevich Gorbenko;

- Lender - JSC RusHydro;

- The sum of the loan - 14,925,645 (fourteen million, nine hundred and twenty-five thousand, six hundred and forty-five) rubles;

- Currency of the loan - rubles of the Russian Federation;

- The loan interest rate is zero per cent per year;

- The term of loan - till September 14, 2012.


Voting results:

"For" - 10 (S. I. Shmatko, A. B. Ballo, 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.

  

Matter 2: 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).


2.1. Determination of agenda for the general stockholders' meetings of subsidiaries and affiliates.


Decision:

Instruct JSC RusHydro's representatives in the Board of Directors of JSC OP Verkhne-Mutnovskaya GeoPP to vote FOR approval of the following agenda for an extraordinary General Shareholders' Meeting of JSC OP Verkhne-Mutnovskaya GeoPP:

-   Approval of the property lease agreement between JSC OP Verkhne-Mutnovskaya GeoPP and JSC Geotherm, which is an interested party transaction.

 

Voting results:

"For" - 12 (S. I. Shmatko, A. B. Ballo, 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.


2.2. Defining the position on the issue of encumbrance of shares in the authorised capitals of the organisations
of which the subsidiaries and affiliates are part of.

 

Decision:

Instruct JSC RusHydro's representatives in the Board of Directors in LLC Index of Energy - HydroOGK on the issue related to Encumbrance of shares in the authorised capitals of the organisations of which the subsidiaries and affiliates are part of to vote FOR the approval of the following decision:

Approve transfer of shares (hereinafter - Shares) beneficially owned by LLC Index of Energy - HydroOGK (as related to rights attached to shares) of joint-stock companies mentioned in Appendix 1 on the following essential terms:

- LLC Index of Energy - HydroOGK (Trustor) transfers all rights certified by Shares to JSC INTER RAO UES;

- 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 five years 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 1, can not exceed 3,000 (three thousand) rubles per quarter including VAT.


Voting results:

"For" - 12 (S. I. Shmatko, A. B. Ballo, 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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