Minutes of 18.03.2011 №121

MINUTES No. 121

OF THE BOARD OF DIRECTORS MEETING


Date and time of the Board of Directors meeting

(date and time of vote counting):                              March 18, 2011, 6:00 p.m.

                                                                                     (Moscow time)

Minutes Dated:                                                           March 18, 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

                                                                                 N. G. Kutyin

                                                                                 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. Approval of the company's business plan for 2011-2015.

2. Approving the values of annual and quarterly key performance indicators (KPIs) of JSC RusHydro for 2011.

3. Approval of the assessment and calculation method for key performance indicators of JSC RusHydro.

4. Approval of the reports on implementation of of key performance indicators of JSC RusHydro for the fourth quarter of 2010 and 2010.

5. On review of the Report on the company's Management Board's activities for the second half of 2010.


RESULTS OF VOTING ON AGENDA:

 

Matter 1: Approval of the company's business plan for 2011-2015.


Decision:

1.1. Approve the company's business-plan indicators for 2011 contained in the company's business-plan for 2011-2015 (Appendix 1).

1.2. Approve the predicted indicators of the company's business-plan
2012-2015 contained in the company's business-plan for 2011-2015.

1.3. Approve the values of annual and quarterly key performance indicators (KPI) of the company for 2011 included in the company's business-plan
for 2011-2015 (Appendix 2 to the business-plan)

1.4. Approve the company's cost management programme for 2011-2013 (Appendix 3, 3a, 3b to the business plan).

1.5. To approve the quarterly financing plans and investment disbursement for 2011 (Appendix 4, 4a to the business plan).

1.6. To delegate the task to the Chairman of the Management Board:

1.6.1. To ensure that measures required by the company to raise borrowed funds in accordance with the business plan to the amount of 15,000,000,000 (fifteen billion) rubles are taken;

1.6.2. Determine a period when borrowed funds are to be obtained;

1.6.3. Select a method of borrowed fund raising:

1.6.3.1. Public offering of non-convertible interest bearing documentary bearer bonds to the amount up to 15,000,000,000 (fifteen billion) rubles or

1.6.3.2. Bank credit to the amount of up to 15,000,000,000 (fifteen billion) rubles, or

1.6.3.3. Combination of loan raising methods specified in clauses 1.6.3.1 and 1.6.3.2 of the present decision to the total amount of up to 15,000,000,000 (fifteen billion) 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" - 1 (N. G. Kutyin)

Decision made.


Matter 2: Approving the values of annual and quarterly key performance indicators (KPIs) of JSC RusHydro for 2011.


Decision:

Approve the list of annual and quarterly key performance indicators of JSC RusHydro for 2011 (Appendix 2).


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" - 1 (N. G. Kutyin)

Decision made.


Matter 3: Approval of the assessment and calculation method for key performance indicators of JSC RusHydro.


Decision:

3.1. Approve the method of calculation and assessment of JSC RusHydro's key performance indicators as amended (Appendix 3).

3.2. Establish that the method of calculation and assessment of JSC RusHydro's key performance indicators as amended is used since the date of the summary of key performance indicators for the first quarter of 2011.

3.3. Establish that the method of calculation and assessment of JSC RusHydro's key performance indicators approved by a decision of JSC RusHydro's Board of Directors dated 26.09.2008 (minutes No. 62) taking into account the amendments made according to the decisions of JSC RusHydro's Board of Directors dated 24.12.2008 (minutes No. 69), dated 02.10.2009 (minutes No. 85), dated 11.05.2010 (minutes No. 97), dated 16.11.2010 (minutes No. 111) are used to summarise the results of key performance indicators for the fourth quarter of 2010 and for the whole of 2010.


Voting results:

"For" - 13 (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, N. G. Kutyin, A. B. Malyshev, M. V. Seliverstrova, R. R. Sharipov)

"Against" - 0

"Abstained" - 0

Decision made.


Matter 4: Approval of the reports on implementation of of key performance indicators of JSC RusHYdro for the fourth quarter of 2010 and 2010.


Decision:

Approve the reports on implementation of key performance indicators of JSC RusHydro for the fourth quarter of 2011 and for the whole 2010 (Appendix 4).


Voting results:

"For" - 13 (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, N. G. Kutyin, A. B. Malyshev, M. V. Seliverstrova, R. R. Sharipov)

"Against" - 0

"Abstained" - 0

Decision made.


Matter 5: On review of the Report on the company's Management Board's activities for the second half of 2010.


Decision:

To take note of the Report on the company's Management Board's activities for the second half of 2010 (Appendix 5).


Voting results:

"For" - 13 (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, N. G. Kutyin, 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. Davydov

Your application has been accepted. The answer will be prepared and sent within 20 calendar days. ok