Minutes of 04.04.2011 №123

MINUTES No. 123

OF THE BOARD OF DIRECTORS MEETING


Date and time of the Board of Directors Meeting
(date and time of vote counting):                                      April 4, 2011, 6:00 p.m.

                                                                                     (Moscow time)

Minutes Dated:                                                                April 4, 2011.

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 (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. Review of propositions made by the company's shareholders for nominees to the management and control bodies of JSC RusHydro.

2. Review of propositions made by the company's shareholders regarding the introduction of new issues into the agenda of Annual General Shareholders' Meetings of JSC RusHydro.

3. Early termination of powers of the company's corporate secretary.

4. Election of the company's corporate secretary.


RESULTS OF VOTING ON AGENDA:


Matter 1: Review of propositions made by the company's shareholders for nominees to the management and control bodies of JSC RusHydro.


Decision:

1. Include the following candidates on the list of candidates to vote for election to the company's Board of Directors (at the Annual General Shareholders' Meeting of the company according to the results of 2010):


No.

A candidate proposed by a shareholder (-s) to be included on the list of candidates to be voted for to elect the Board of Directors of the company

Position, place of employment of a candidate

Name of a shareholder (-s) that proposed a candidate to be included into the list of candidates to be voted for to elect the Board of Directors of the company

Number of the company's voting shares owned by a shareholder

1.

Anatoly Borisovich Ballo

Deputy Chairman, State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank)

The Russian Federation represented by the Federal Property Management Agency (Rosimushestvo)

57.97

2.

Sergey Sergeevich Beloborodov

General Director, LLC Gazenergoprom

The Russian Federation represented by the Federal Property Management Agency (Rosimushestvo)

57.97

JSC Hydroinvest, LLC Index of Energy - HydroOGK Limited, LLC EZOP

2.67

3.

Viktor Ivanovich Danilov-Danilyan

Director, Institute of Water Problems of RAS (Russian Academy of Science)

JSC Hydroinvest, LLC Index of Energy - HydroOGK Limited, LLC EZOP

2.67

4.

Evgeny Vyacheslavovich Dod

Chairman of the Management Board, JSC RusHydro

The Russian Federation represented by the Federal Property Management Agency (Rosimushestvo)

57.97

JSC Hydroinvest, LLC Index of Energy - HydroOGK Limited, LLC EZOP

2.67

5.

Victor Mikhailovich Zimin

Chairman of the Government of the Republic of Khakassia

The Russian Federation represented by the Federal Property Management Agency (Rosimushestvo)

57.97

JSC Hydroinvest, LLC Index of Energy - HydroOGK Limited, LLC EZOP

2.67

6.

Boris Yuryevich Kovalchuk

Chairman of the Management Board, JSC INTER RAO UES

The Russian Federation represented by the Federal Property Management Agency (Rosimushestvo)

57.97

JSC Hydroinvest, LLC Index of Energy - HydroOGK Limited, LLC EZOP

2.67

7.

Victor Vasilyevich Kudryavy

Advisor to President, CJSC Eurocement Group

The Russian Federation represented by the Federal Property Management Agency (Rosimushestvo)

57.97

JSC Hydroinvest, LLC Index of Energy - HydroOGK Limited, LLC EZOP

2.67

8.

Grigory Markovich Kurtser

President, JSC Russian Regional Development Bank

The Russian Federation represented by the Federal Property Management Agency (Rosimushestvo)

57.97

JSC Hydroinvest, LLC Index of Energy - HydroOGK Limited, LLC EZOP

2.67

9.

Viktor Yuryevich Lebedev

Deputy Director, Department of the Ministry of Economic Development and Trade of the Russian Federation

The Russian Federation represented by the Federal Property Management Agency (Rosimushestvo)

57.97

10.

Andrey Borisovich Malyshev

Deputy General Director, State Corporation Rosnanotech

The Russian Federation represented by the Federal Property Management Agency (Rosimushestvo)

57.97

JSC Hydroinvest, LLC Index of Energy - HydroOGK Limited, LLC EZOP

2.67

11.

Mikhail Igorevich Poluboyarinov

Infrastructure Department Director of the State Corporation "Bank for Development and Foreign Economic Affairs (Vnesheconombank)"

JSC Hydroinvest, LLC Index of Energy - HydroOGK Limited, LLC EZOP

2.67

12.

Marina Valeryevna Seliverstova

Head, Federal Water Resources Agency (Rosvodresursy)

The Russian Federation represented by the Federal Property Management Agency (Rosimushestvo)

57.97

JSC Hydroinvest, LLC Index of Energy - HydroOGK Limited, LLC EZOP

2.67

13.

Vladimir Vitalyevich Tatsy

First Vice President, JSC Gazprombank

JSC Hydroinvest, LLC Index of Energy - HydroOGK Limited, LLC EZOP

2.67

14.

Rashid Ravelevich Sharipov

Deputy General Director, LLC KFK-Consult

The Russian Federation represented by the Federal Property Management Agency (Rosimushestvo)

57.97

JSC Hydroinvest, LLC Index of Energy - HydroOGK Limited, LLC EZOP

2.67

15.

Sergey Ivanovich Shmatko

Minister of Energy of the Russian Federation

The Russian Federation represented by the Federal Property Management Agency (Rosimushestvo)

57.97

16.

Sergey Vladimirovich Shishin

Senior Vice President, JSC VTB Bank

The Russian Federation represented by the Federal Property Management Agency (Rosimushestvo)

57.97

JSC Hydroinvest, LLC Index of Energy - HydroOGK Limited, LLC EZOP

2.67



2. Include the following candidates on the list of candidates to vote for election to the company's Audit commission (at the Annual General Shareholders' Meeting of the company according to the results of 2010):

No.

A candidate proposed by a shareholder (-s) to be included on the list of candidates to be voted for to elect the Audit Commission of the company

Position, place of employment of a candidate

Name of a shareholder (-s) that proposed a candidate to be included into the list of candidates to be voted for to elect the Audit Commission of the company

Number of the company's voting shares owned by a shareholder

(per cent)

1.

Oleg Evgenyevich Azhimov

Head, Internal Audit Department, JSC RusHydro

JSC Hydroinvest, LLC Index of Energy - HydroOGK Limited, LLC EZOP

2.67



2.

Dmitry Mikhailovich Gorevoy

Principal Adviser, Department of the Ministry of Economic Development and Trade of the Russian Federation

The Russian Federation represented by the Federal Property Management Agency (Rosimushestvo)

57.97

3.

Andrey Sergeevich Kolyada

Deputy Head, Management Department of The Federal Property Management Agency (Rosimuschestvo)

The Russian Federation represented by the Federal Property Management Agency (Rosimushestvo)

57.97

JSC Hydroinvest, LLC Index of Energy - HydroOGK Limited, LLC EZOP

2.67

4.

Andrey Aleksandrovich Kochanov

Head, Section of the Internal Audit Department, JSC RusHydro

JSC Hydroinvest, LLC Index of Energy - HydroOGK Limited, LLC EZOP

2.67

5.

Valentin Gennadyevich Kudryashov

Head, Internal Control Department, JSC RusHydro

JSC Hydroinvest, LLC Index of Energy - HydroOGK Limited, LLC EZOP

2.67

6.

Elena Yuryevna Litvina

Senior specialist of the Management Department, Federal Property Management Agency (Rosimushestvo)

The Russian Federation represented by the Federal Property Management Agency (Rosimushestvo)

57.97

7.

Maria Gennadyevna Tikhonova

Director of the Department of the Ministry of Energy of the Russian Federation

The Russian Federation represented by the Federal Property Management Agency (Rosimushestvo)

57.97

JSC Hydroinvest, LLC Index of Energy - HydroOGK Limited, LLC EZOP

2.67

8.

Aleksandr Sergeevich Yugov

Deputy Head, Management of the Federal Property Management Agency (Rosimuschestvo)

The Russian Federation represented by the Federal Property Management Agency (Rosimushestvo)

57.97


3.         Refuse a shareholder to consider the following proposition:

No.

Full name of a shareholder (-s) that proposed a candidate to be included on the list of candidates to be voted for to elect the Board of Directors of the company

Shareholder's proposition description

Grounds for refusal to include a candidate proposed by a shareholder (-s) on the list of candidates to be voted for to elect the Board of Directors of the company

1.

ROF (CYPRUS) LIMITED

Inclusion of the following candidate on the list of candidates to vote for election to the company's Board of Directors:

Charles Anry Irsh - Head of the Moscow office of Eurostep (Cyprus) Limited, Investment Advisor for Equinox Fund Management (Guernsey) Limited

Clause 5, Article 53 of the Federal Law On Joint-Stock Companies: A proposition is signed by a shareholder (a shareholder's representative) holding less than two per cent of the company's voting share in the aggregate.

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: Review of propositions made by the company's shareholders regarding the introduction of new issues into the agenda of Annual General Shareholders' Meetings of JSC RusHydro.


Decision:

Accept a proposition of the company’s shareholder — the Russian Federation represented by the Federal Property Management Agency holding 57.97 per cent of the company’s voting shares.


No.

Issue wording proposed by a shareholder

Decision wording proposed by a shareholder

1.

Approval the company's annual statements.

Not submitted

2.

Approval of annual accounting statements including profit and loss statements (profit and loss accounts) of the company.

Not submitted

3.

Approval of the company's profit to be distributed according to the results of 2010.

Not submitted

4.

Size, terms and method of dividend payout according to the results of 2010.

Not submitted

5.

Payment of remuneration to members of the Board of Directors (Supervisory Board) being non-state officials to the amount provided for by the company's internal documents.

Not submitted

6.

Election of members to the Board of Directors (Supervisory Board) of the company.

Not submitted

7.

Election of members to the Audit Commission (auditor) of the company.

Not submitted

8.

Approval of the company's auditor.

Not submitted

 

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: Early termination of powers of the company's corporate secretary.


Decision:

1. Early-terminate the powers of Mikhail Mikhailovich Davidov as the company's corporate secretary.

2. Establish that this decision is simultaneously a decision on early-termination of M. M. Davidov's powers as secretary of the Board of Directors according to subclause 12.1.13 clause 12.1 article 12 of the Articles of Association of JSC RusHydro.


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: Election of the company's corporate secretary.


Decision:

1. Elect Marina Mikhailovna Lukyanova as the company's corporate secretary combining the functions of Secretary of the Board of Directors.

2. Establish that this decision is simultaneously a decision on election of Marina Michailovna Lukyanova as Secretary of the Board of Directors according to subclause 12.1.13 clause 12.1 article 12 of the Articles of Association of JSC RusHydro.


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.





Chairman of the Board of Directors                                              S. I. Shmatko


Secretary of the Board of Directors                                          M. M. Lukyanova

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