Minutes of 26.05.2011 №126

MINUTES No. 126

OF THE BOARD OF DIRECTORS MEETING


Date and time of the Board of Directors meeting

(date and time of vote counting):                            May 23, 2011, 6:00 p.m.

                                                                                     (Moscow time)

Minutes Dated:                                                           May 26, 2011

Form of vote:                                                              Absentee vote

Site of vote counting:                                                Moscow, 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 (Chairman)

                                                                               A. B. Ballo

                                                                               S. S. Beloborodov

                                                                               E. P. Volkov

                                                                               E. V. Dod

                                                                               V. M Zimin                                                                               

                                                                               B. Yu. Kovalchuk

                                                                               V. V. Kudryavy

                                                                               G. M. Kurtser

                                                                               A. B. Malyshev

                                                                               M. V. Seliverstrova

                                                                               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. Implementation of the company's Business Plan for 2010 (including a report on the company's Investment Programme implementation for 2010).

2. Approve development priorities of JSC RusHydro for 2010.

3. Approval of the Report on insurance coverage of JSC RusHydro in 2010.

4. Approval of the Provision on the JSC RusHydro's insurance coverage as amended.

5. Report on the charity and sponsorship activities of the company in 2010.

6. Approval of an interested-party transaction with JSC SO UES.

7. Charity and sponsorship programme of the company for 2011.

8. Transactions connected with transfer of property without compensation.



RESULTS OF VOTING ON AGENDA:

 

Matter 1: Implementation of the company's Business Plan for 2010 (including a report on the Investment Programme implementation for 2010).


Decision:

1. Approve the report on fulfilment of the company's Business Plan for 2010 (Appendix 1).

2. Approve the report on fulfillment of the Investment programme of the company for 2010 (Appendix 2) including.


2.1. Additional financing of the TU&R programme in accordance with a decision made by the Board of Directors of JSC RusHydro (minutes No. 103 dated 28.07.2010) in order to step up protection of the company's facilities in the process of setting up a comprehensive safety system for the company's facilities to the amount of 1,121.52 million rubles.


2.2. Financing of the company's TU&R programme in accordance with decisions made by the Board of Directors of JSC RusHydro (minutes No. 102 dated 29.06.2010 and No. 114 dated 10.12.2010) in order to implement a contract on manufacture and delivery of equipment for hydro-power units of JSC RusHydro's branch - Zhigulevskaya HPP as per contract No. 050308056/100822 - 0898 dated August 19, 2010 between JSC RusHydro and JSC Power Machines to the amount of 7,634.46 mln rubles.


Voting results:

 

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

"Against" - 0

"Abstained" - 0

 

Decision made.


Matter 2: Approve development priorities of JSC RusHydro for 2010.


Decision:

Approve the report on fulfilment of JSC RusHydro's development priorities in 2010 (Appendix 3).


Voting results:

 

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


"Against" - 0

"Abstained" - 0

 

Decision made.


Matter 3: Approval of the Report on insurance coverage of JSC RusHydro in 2010.

 

Decision:

 

Approve the Report on insurance coverage of JSC RusHydro in 2010 (Appendix 4).

 

Voting results:

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

"Against" - 0

"Abstained" - 0

 

Decision made.

 

Matter 4: Approval of the Provision on the JSC RusHydro's insurance coverage as amended.

 

Decision:

Approve the Provision on the JSC RusHydro's insurance coverage as amended (Appendix 5).


Voting results:

 

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

"Against" - 0

"Abstained" - 0

Decision made.

 

Matter 5: Report on the charity and sponsorship activities of the company in 2010.

 

Decision:

Take into consideration Report on Charity and Sponsorship Activity of JSC RusHydro for 2010 (Appendix 6).

 

Voting results:

 

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

"Against" - 0

"Abstained" - 0

 

Decision made.


Matter 6: Approval of an interested-party transaction with JSC SO UES.

 

Decision:

1.   Determine that a monthly rental payment under non-residential premises lease Contract between JSC RusHydro and JSC SO UES amounts to         2,177 (two thousand one hundred and seventy five) rubles 40 kopeks including VAT (18 per cent) - 332 (three hundred and thirty two) rubles 15 kopeks. Total rental payment for the whole effective period of the contract amounts to 23,951.40 rubles (including VAT) that does not exceed two per cent of the balance sheet assets of JSC RusHydro.

2.   Approve Contract between JSC RusHydro and JSC SO UES representing an interested party transaction under the following essential conditions:

Parties to Contract:

Lessee - JSC SO UES

Lessor - JSC RusHydro

Subject of Contract:

Under the contract the Proprietor provides and the Lessee takes into temporary possession and use at a charge non-residential (office) premises 18.30 sq. m in the area located at the address: Samara Region, Zhigulevsk urban district, Zhigulevsk, Moskovskoye Shosse 2, bld. 1 (office building) according to the list (Appendix No. 1) and the floor plan (Appendix No. 3) which are an integral part of the Contract.

Contract rental payment value:

A monthly rental payment under Contract of non-residential premises rent between JSC RusHydro and JSC SO UES is 2,177 (two thousand one hundred and seventy seven) rubles 40 kopecks, including VAT (18 per cent) - 332 (three hundred and thirty two) rubles 15 kopecks.

Effective Period of Contract:

The contract comes into force from the date of its signing by the Parties and is valid until 30.11.2011. The Contract terms apply to the parties' relations initiated before its conclusion (from 01.01.2011).


Voting results:

 

"For" - 8 (A. B. Ballo, E. P. Volkov, V. M. Zimin, B. Yu. Kovalchuk, V. V. Kudryavy, G. M. Kurtser, A. B. Malyshev, M. V. Seliverstova)

"Against" - 0

"Abstained" - 0


In accordance with clause 3 of Article 83 of the Federal law on Joint-Stock companies, the decision on this matter is made by the company's Board of Directors by a majority vote of independent directors, uninterested in the settlement of the transaction.

When drawing up the results of voting on this matter, votes of members of the Board of Directors of JSC RusHydro S. S. Beloborodov, E. V. Dod, R. R. Sharipov and S. I. Shmatko are not taken into account, in compliance with the Article 81 of the Federal Law on Stock Companies as they are recognised as having a vested interest in the settlement of the transaction. In accordance with clause 3 of Article 83 of the Federal Law on Stock Companies, the member of the Board of Directors E. V. Dod is recognised as a dependent director, for he is the Chairman of the Management Board of JSC RusHydro.


Decision made.


Matter 7: Charity and sponsorship programme of the company for 2011.


Decision:

To approve the Programme of charitable and sponsorship activities of JSC RusHydro for 2011 (Appendix 7).

 

Voting results:

 

"For" - 10 (S. I. Shmatko, A. B. Ballo, S. S. Beloborodov, E. P. Volkov, Е. V. Dod, V. M. Zimin, B. Yu. Kovalchuk, V. V. Kudryavy, G. M. Kurtser, A. B. Malyshev, R. R. Sharipov)

"Against" - 0

"Abstained" - 1 (M. V. Seliverstova)


A member of the Board of Directors, S. S. Beloborodov, did not take part in voting on the matter.


Decision made.


Matter 8: Transactions connected with transfer of property without compensation.


Decision:

As part of donations and in accordance with the Agreement on Cooperation No. 31 dated 10.07.2007 concluded between the Government of Moscow Region and JSC RusHydro:

1. Approve a contract between the company and the municipal unit Krasnozavodsk urban settlement (hereinafter referred to as the Contract), the subject of which is transfer of property without compensation to the third parties under the following essential terms:

Parties to Contract: JSC RusHydro is a donator and the Municipal unit Krasnozavodsk urban settlement of the Sergiev-Posad municipal district located in the Moscow Region is a donation receiver.

Subject of Contract: This donation was made as a voluntary special-purpose contribution to Krasnozavodsk urban settlement to construct a ferrous metal separation plant, three water intake wells, a modular boiler house, a F-400 mm heating main of 500 m long nearby Vozrozhdenie settlement and a recreational development near the town pond under Agreement on Cooperation No. 31 dated 10.07.2007 concluded between the Government of Moscow Region and JSC RusHydro.

Contract Price: 151,600,000 (one hundred fifty one million and six hundred thousand) rubles 00 kopeks, without VAT including social, cultural and household facilities:

- Recreation zone - 50,000 thousand rubles.

- Ferrous metal separation plant - 20,000 thousand rubles.

- Water intake wells (3 wells) - 30,000,000 rubles.

- Modular boiler house nearby Vozrozhdenie settlement - 40,000 thousand rubles.

- Heating pipeline F-400 mm, 500 m long - 11,600 thousand rubles.

Effective Period of Contract: The present Contract comes into force from the date of its signing by the Parties, and is valid until the Parties have completed their duties in full in accordance with the contractual terms.

Donation utilisation conditions: In case the monetary assets are not utilized by the Recipient for the purposes indicated in the Contract, the specified monetary assets shall be returned to the Donor in full.

2. Approve the financing procedure for construction of social, cultural and household facilities in the Municipal unit Bogorodskoye urban settlement of the the Sergiev-Posad municipal district located in the Moscow region to the amount of 920,000,000 (nine hundred and twenty million) rubles 00 kopeks and hand over performed work as charity (Appendix 8). 

3. In accordance with clause 2 of the present decision the Management Board of JSC RusHydro shall submit for consideration by the Board of Directors of JSC RusHydro draft financing agreements on construction of social, cultural and household purpose facilities in the Municipal unit Bogorodskoye urban settlement of Sergiev-Posad Municipal District located in the Moscow region before 30.06.2011.



"For" - 10 (S. I. Shmatko, A. B. Ballo, S. S. Beloborodov, E. P. Volkov, Е. V. Dod, V. M. Zimin, B. Yu. Kovalchuk, V. V. Kudryavy, G. M. Kurtser, A. B. Malyshev, R. R. Sharipov)

"Against" - 0

"Abstained" - 1 (M. V. Seliverstova)


A member of the Board of Directors, S. S. Beloborodov, did not take part in voting on the matter.


Decision made.

 

 


 

Chairman of the Board of Directors                                                   S. I. Shmatko


Secretary of the Board of Directors                                            M. M. Lukyanova

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