Minutes of 10.10.2016 №242

MINUTES No. 242

OF THE MEETING OF THE BOARD OF DIRECTORS


Date and time of the Meeting of the Board of Directors (date and time of counting the votes):

October 7, 2016, 6.00 p.m.

(Moscow time).

Date of drawing up the Minutes:

October 10, 2016

Form of the meeting:

absentee voting.

Place of counting the votes:

Moscow, 7 Malaya Dmitrovka.

PJSC “RusHydro”

Number of elected members of the Board of Directors:

13 persons

Members of the Board of Directors,

who participated in the voting:


A.D. Avetisyan,

M.S. Bystrov,

P. S. Grachyov,

S.N. Ivanov,

V.M. Kravchenko,

V.V. Pivovarov,

N. R. Podguzov,

N. D. Rogalyov,

Yu.P. Trutnev,

A.O. Chekunkov,

S.V. Shishin,

A.N. Shishkin,

N.Shulginov.

In accordance with the Federal Law “On Joint-Stock Companies” and the Company's Articles of Association, the quorum for a meeting of the Board of Directors is present.


AGENDA OF THE MEETING:

  1. On enforcement of the resolutions adopted by the Board of Directors of the Company.
  2. On the Company's priority activities.
  3. On compliance with the Key Performance Indicators for the 2nd quarter of 2016 by PJSC RusHydro.
  4. On approval of transactions concluded by the Company.
  5. On approval of the Company's internal documents.


RESULTS OF VOTING ON THE AGENDA ITEMS:


Item 1: On enforcement of the resolutions adopted by the Board of Directors of the Company.


Item 1.1: On enforcement of the resolutions adopted by the Board of Directors of the Company.


Resolution:

1. To ratify the amendments to:

  • List of key performance indicators of PJSC “RusHydro” for 2016 in the part of inclusion into the annual KPI "Integrated KPI of Innovative Activity" and weight indicator changes in accordance with Annex 1 to the present Minutes;
  • Method for calculating and evaluating key performance indicators of PJSC "RusHydro" in accordance with Annex 2 to the present Minutes;
  • Annex 2 “The Values of Annual and Quarterly Key Performance Indicators (KPI) of the Company for the year 2016” to the business plan of PJSC “RusHydro” for the years 2016 - 2020 in parts of inclusions into "Integrated KPI of Innovative Activity" in accordance with Annex 3 to the present Minutes;
  • The long-term development program of RusHydro Group approved by the PJSC RusHydro Board of Directors’ No. resolution of November 21, 2014 (Minutes 206)[1] in accordance with Annex 4 to the present Minutes.

2. To determine that the amendments specified in paragraph 1 of the present resolution, are applied from January 1, 2016.

3. Chairman of the Management Board - General Director of PJSC "RusHydro" N.G. Shulginov shall ensure the representation of amendments (if necessary) in labour contract with the sole Executive body of the Company on approval of Chairman of the Company's Board of Directors as well as introduction of amendments to Company's local regulatory documents (acts) regulating the system of Company's management remuneration.


Voting results:

"For" - 12 (A.D. Avetisyan, M.S. Bystrov, P. S. Grachyov, S.N. Ivanov, V.V. Pivovarov, N. R. Podguzov, N. D. Rogalyov, Yu.P. Trutnev, A.O. Chekunkov, S.V. Shishin, A.N. Shishkin, N.G. Shulginov).

"Against" — 0.

"Abstain" — 1 (V.M. Kravchenko).

The resolution has been adopted.


Item 1.2: On postponement of execution of the order on the agenda item 2 of the meeting of the Company’s Board of Directors on February 19, 2016 “On the progress in construction of the Zagorskaya PSHPP-2” No. (Minutes 231 of February 20, 2016).


Resolution:

To postpone the execution of the order on the agenda item 2 of the meeting of the Company’s Board of Directors on February 19, 2016 “On the progress in construction of the Zagorskaya PSHPP-2” (Minutes No. 231 of February 20, 2016) in terms of the preparation and submission to the Board of Directors of the Company of the project justification of recovery of Zagorsk PSHPP-2 (including technical, legal and economic aspects related to the draft of the building of the station unit of Zagorsk PSHPP-2 on 17.09.2013) by March 10, 2017.


Voting results:

"For" - 12 (A.D. Avetisyan, M.S. Bystrov, P. S. Grachyov, S.N. Ivanov, V.V. Pivovarov, N. R. Podguzov, N. D. Rogalyov, Yu.P. Trutnev, A.O. Chekunkov, S.V. Shishin, A.N. Shishkin, N.G. Shulginov).

"Against" — 0.

"Abstain" — 1 (V.M. Kravchenko).

The resolution has been adopted.


Item 2: On the Company's priority activities.


Item 2.1: On adjustment of starting terms of public process and price audit on a project "Reconstruction of the dam of Mainskaya hydroelectric complex with creation of two spillway bays (Complex reconstruction of MHC)".


Resolution:

To adjust the starting terms of public process and price audit on a project "Reconstruction of the dam of Mainskaya hydroelectric complex with creation of two spillway bays (Complex reconstruction of MHC)" from 2016 for 2017.


Voting results:

"For" - 12 (A.D. Avetisyan, M.S. Bystrov, P. S. Grachyov, S.N. Ivanov, V.V. Pivovarov, N. R. Podguzov, N. D. Rogalyov, Yu.P. Trutnev, A.O. Chekunkov, S.V. Shishin, A.N. Shishkin, N.G. Shulginov).

"Against" — 0.

"Abstain" — 1 (V.M. Kravchenko).

The resolution has been adopted.


CONFIDENTLY


Item 2.2: The item and the decision made are of confidential nature.


Voting results:

"For" - 9 (P.S. Grachyov, S.N. Ivanov, V.V. Pivovarov, N. R. Podguzov, N. D. Rogalyov, Yu.P. Trutnev, A.O. Chekunkov, S.V. Shishin, A.N. Shishkin).

"Against" — 0.

"Abstain" — 3 (A.D. Avetisyan, M.S. Bystrov, V.M. Kravchenko).

The resolution has been adopted.


Item 2.3: On approval of the report on corporate social responsibility and sustainability of PJSC RusHydro for 2015.


Resolution:

To approve the report on corporate social responsibility and sustainability of PJSC RusHydro for 2015 (Annex 6).


Voting results:

"For" - 13 (A.D. Avetisyan, M.S. Bystrov, P. S. Grachyov, S.N. Ivanov, V.M. Kravchenko V.V. Pivovarov, N. R. Podguzov, N. D. Rogalyov, Yu.P. Trutnev, A.O. Chekunkov, S.V. Shishin, A.N. Shishkin, N.G. Shulginov).

"Against" — 0.

“Abstain” — 0.

The resolution has been adopted.


Item 2.4: On amendments to the Company’s procurement policy in terms of innovative Construction materials (Directive No. 6558п-П13 of September 5, 2016).


Resolution:

1. To amend the Regulation on the procurement of goods for the needs of PJSC RusHydro approved by the Board of Directors of PJSC RusHydro (Minutes No. 239 of June 23, 2016 as amended and supplemented), hereinafter - Regulations on the procurement:

- to insert to paragraph 3.5 of the Regulation on procurement "Section of "preference" by the following sub paragraph 3.5.7:

"3.5.7 Procurements of innovative construction materials are carried out mainly in Russian producers, with the possibility of entering into long-term contracts under the guaranteed delivery volumes of future periods, as well as with producers who legalize the special investment contracts on the basis of production of these products in accordance with standard procedure".

2. To instruct Chairman of the Management Board - General Director of PJSC “RusHydro” N.G. Shulginov to ensure by October 31, 2016 the amendments in terms of Russian innovative construction materials procurements to model Regulations on the procurement for the needs of PJSC “RusHydro” subsidiary as amended in accordance with paragraph 1 of the present resolution.


Voting results:

"For" - 13 (A.D. Avetisyan, M.S. Bystrov, P. S. Grachyov, S.N. Ivanov, V.M. Kravchenko V.V. Pivovarov, N. R. Podguzov, N. D. Rogalyov, Yu.P. Trutnev, A.O. Chekunkov, S.V. Shishin, A.N. Shishkin, N.G. Shulginov).

"Against" — 0.

“Abstain” — 0.

The resolution has been adopted.


Item 2.5: On the Company's Registrar


Resolution:

1. To terminate the Service Contract on maintenance of register of holders of securities of October 15, 2010 No. 4018, between the Company and JSC “Registrar R.O.S.T.” in accordance with the article 7 of the Contract.

2. To approve JSC VTB Registrar as the Company’s Registrar on terms and due to the open competition (Lot 30-ДКУ-2016-ИА, Minutes No. 4 of September 10, 2016).

3. To approve the terms of the contract for maintenance and storage of the Company's share register with Joint-Stock Company VTB Registrar (Annex 7).


Voting results:

"For" - 13 (A.D. Avetisyan, M.S. Bystrov, P. S. Grachyov, S.N. Ivanov, V.M. Kravchenko V.V. Pivovarov, N. R. Podguzov, N. D. Rogalyov, Yu.P. Trutnev, A.O. Chekunkov, S.V. Shishin, A.N. Shishkin, N.G. Shulginov).

"Against" — 0.

“Abstain” — 0.

The resolution has been adopted.


Item 2.6: On the issues of the Committees to the Board of Directors of the Company.


Resolution:

1. Set the number of members of the Strategy Committee of 14 people.

2. To approve the Regulations on the Strategy Committee under the PJSC "RusHydro" Board of Directors in a new version (Appendix 8).

3. To elect member of PJSC “RusHydro” Board of Directors N. R. Podguzov as member of the Strategy Committee under the Board of Directors of the Company


Voting results:

"For" - 12 (A.D. Avetisyan, P. S. Grachyov, S.N. Ivanov, V.M. Kravchenko V.V. Pivovarov, N. R. Podguzov, N. D. Rogalyov, Yu.P. Trutnev, A.O. Chekunkov, S.V. Shishin, A.N. Shishkin, N.G. Shulginov).

“Against” — 1 (M.S. Bystrov).

“Abstain” — 0.

The resolution has been adopted.


Item 2.7: On the procedure for management of the Company's non-core assets.


Resolution:

1. To approve a program of the Company's non-core assets alienation in accordance with the Annex 9 to the present Minutes.

2. To approve the Register of the Company's non-core assets alienation in accordance with the Annex 10 to the present Minutes.


Voting results:

"For" - 11 (A.D. Avetisyan, P. S. Grachyov, S.N. Ivanov, V.V. Pivovarov, N. R. Podguzov, N. D. Rogalyov, Yu.P. Trutnev, A.O. Chekunkov, S.V. Shishin, A.N. Shishkin, N.G. Shulginov).

"Against" — 1 (V.M. Kravchenko).

“Abstain” — 1 (M.S. Bystrov).

The resolution has been adopted.


Item 3: On compliance with the Key Performance Indicators for the 2nd quarter of 2016 by PJSC RusHydro.


Resolution:

To approve the report on compliance with the Key Performance Indicators of PJSC "RusHydro" for the second quarter of 2016 (Annex 11).


Voting results:

"For" - 13 (A.D. Avetisyan, M.S. Bystrov, P. S. Grachyov, S.N. Ivanov, V.M. Kravchenko V.V. Pivovarov, N. R. Podguzov, N. D. Rogalyov, Yu.P. Trutnev, A.O. Chekunkov, S.V. Shishin, A.N. Shishkin, N.G. Shulginov).

"Against" — 0.

“Abstain” — 0.

The resolution has been adopted.


Item 4: On approval of transactions concluded by the Company.


Item 4.1: On approval of Supplementary Contract No. 2 to the Master Loan Contract No.1 of September 13, 2013, concluded between the Company, Joint-Stock Company “RUSSIAN ALUMINIUM” (JSC RUSAL), Joint-Stock Company “RUSAL Krasnoyarsk Aluminium Plant” (JSC RUSAL Krasnoyarsk) and Closed Joint-Stock Company “Boguchansky Aluminium Plant” (CJSC BoAP), as the transaction, resulting in occurrence of the Company's obligations (requirements), denominated in foreign exchange (pegged to foreign exchange rate).


Resolution:

To approve Supplementary Contract No. 2 to Master Loan Contract No. 1 of September 13, 2013 (hereinafter referred to as “the Supplementary Contract”), as the transaction, resulting in occurrence of the Company's obligations (requirements), denominated in foreign exchange (pegged to foreign exchange rate), on the following material terms:

Parties:

Lenders — PJSC RusHydro (Lender 1), OJSC RUSAL (Lender 2), OJSC RUSAL Krasnoyarsk (Lender 3).

Borrower — CJSC BoAP.

Subject of the Supplementary Contract:

Amendments to the following terms and conditions of Master Loan Contract No. 1 of September 13, 2013 (hereinafter referred to as “the Master Contract”) approved by resolution of the Company’s Board of Directors (Minutes No. 186 of August 30,2013, Minutes No. 228 of December 11, 2015):


Loan term

The issue of loans is carried out by separate tranches from January 1, 2015 to December 20, 2030 (hereinafter every such tranche is called "Tranche of Loan").

Maturity

Not earlier than December 21, 2030

Price of the Master Contract taking into account the Supplementary contracts:

The total limit of loans — RUB 16,800,000,000.00 (sixteen billion eight hundred million) shall be distributed between the Lenders as follows:

  • Lender 1's loan limit shall amount to RUB 8,400,000,000.00 (eight billion four hundred million) (hereinafter referred to as “the Limit of Lender 1”);
  • Lender 2's loan limit shall amount to RUB 4,400,000,000 (four billion four hundred million) (hereinafter referred to as “the Limit of Lender 2”);
  • Lender 3's loan limit shall amount to RUB 4,000,000,000 (four billion) (hereinafter referred to as “the Limit of Lender 3”);

The fixed interest rate shall amount to 8.72 (eight and seventy-two hundredths) percent per annum.

The interest rate under the Contract may be decreasingly changed at the Lenders’ discretion, with the written notification of the Borrower and conclusion of the relevant supplementary agreement to the Contract. The interest rate may be reviewed in case of changing the interest rate under the Contract.

The other terms and conditions of the Master Contract shall remain in force.


Voting results:

"For" - 12 (A.D. Avetisyan, M.S. Bystrov, P. S. Grachyov, S.N. Ivanov, V.V. Pivovarov, N. R. Podguzov, N. D. Rogalyov, Yu.P. Trutnev, A.O. Chekunkov, S.V. Shishin, A.N. Shishkin, N.G. Shulginov).

"Against" — 0.

"Abstain" — 1 (V.M. Kravchenko).

The resolution has been adopted.


Item 4.2: “On approval of the Guarantee Contract between PJSC “RusHydro” and RRDB Bank (JSC), being a non-arm's length transaction”.


Resolution:

1. To determine that the price of the Guarantee Contract between PJSC “RusHydro” and “RRDB Bank” (JSC) (hereinafter - the Bank) being a non-arm’s length transaction (hereinafter - the Guarantee Contract) defined as the total of the following Secured Liabilities of the Borrower (JSC “ Magadanenergo”) under the Contract on opening a credit line No. 1010-К-16 from July 11, 2016 (hereinafter - the credit line), concluded with the Bank:

1.1. The maximum amount of loan funds (the credit line limit): 500,000,000 (five hundred million) RUB 00 kopecks;

1.2. The maximum amount of interest for the use of loan funds: for the entire duration of the credit line at the rate of 10.64% per annum.

The interest rate for credit funds may be increased by the Bank unilaterally including, but not limited to, due to Bank of Russia’s decisions to increase the key interest rate and/or refinancing rate (discount rate).

1.3. A penalty in the amount of interest referred to in clause 1.2 of the present resolution, multiplied by 1.5 times, in the annual interest accrued on the overdue amount to repay the loan or pay interest for each day of the delay from the date of occurrence of arrears (excluding this date) to the date of full repayment of overdue debt (inclusive);

1.4. A penalty in the amount of 0.025% from the credit line limit specified in clause 1.1 of the present resolution for each case of non-fulfilment of obligations by the Borrower to maintain credit turnovers on their accounts opened in the Bank in accordance with size established for the next calendar quarter.

Price of property that may be expropriated under the Guarantee contract, is less than 2% of the Company's book value determined according to the financial statements of the Company as of the last reporting date (30.06.2016).

2. To approve the Guarantee contract as an interested party transaction on the following material terms:

Parties to the Contract:

Lender - RRDB Bank (JSC);

Guarantor — PJSC "RusHydro";

Beneficiary - JSC " Magadanenergo".

Subject of Contract: the guarantee of PJSC "RusHydro" for the execution of the Beneficiary obligations to the Lender under the Contract on opening a credit line.

Obligations accepted by guarantorship: The contract on opening the credit line No. 1010-К-16 from July 11, 2016 between JSC "Magadanenergo" (the Borrower) and the Bank "RRDB" (JSC).

The maximum amount of loan funds (the credit line limit): 500,000,000 (five hundred million) RUB 00 kopecks;

The date of termination of credit: 21.01.2018

Interests on the loan use: 10.64% p.a.

The interest rate may be increased by the Bank unilaterally including, but not limited to, due to Bank of Russia’s decisions to increase the key interest rate and/or refinancing rate (discount rate).

Price of the Contract:

Shall be determined in accordance with clause 1 hereof.

Term of the Contract:

The Contract shall enter into force from the date of its signing by Parties. The Contract and the obligation of the Guarantor (Guarantee) is valid from the date of signing the Contract on January 21, 2021 inclusive.


Voting results:

"For" - 8 (A.D. Avetisyan, P. S. Grachyov, S.N. Ivanov, V.V. Pivovarov, N. D. Rogalyov, Yu.P. Trutnev, A.O. Chekunkov, A.N. Shishkin).

"Against" — 1 (V.M. Kravchenko).

"Abstain" — 2 (M.S. Bystrov, N. R. Podguzov).

The Guarantee Contract concluded between PJSC RusHydro and the RRDB Bank (JSC) is recognized in accordance with Article 81 of the Federal Law "On Joint Stock Companies" is as an interested party transaction with regard to Member of the Board of Directors S.V. Shishin who is also the member of the Supervisory Board of the RRDB Bank (JSC).

In accordance with Article 83 of the Federal Law "On Joint-Stock Companies", the resolution on this issue shall be adopted by the Company's Board of Directors by a majority of votes of independent directors, who are not interested parties.

During counting of votes on this issue, the vote of member of PJSC RusHydro Board of Directors S.V. Shishin, recognised as the person interested in the transaction in accordance with Article 81 of the Federal Law “On Joint-Stock Companies”, and Chairman of the Management Board - Director General of PJSC “RusHydro” N.G. Shulginov, recognised as an independent director in accordance with Article 81 and Clause 3 of Article 83 of the Federal Law “On Joint-Stock Companies”, shall not be taken into account.

The resolution has been adopted.


Item 4.3: On approval of the guarantee contract between PJSC “RusHydro” and “Gasprombank” (Joint Stock Company), being a non-arm's length transaction.


Resolution:

1. To determine that the price of the Guarantee Contract between PJSC “RusHydro” and Gasprombank (JSC) (hereinafter - the Bank) being a non-arm’s length transaction (hereinafter - the Guarantee Contract) defined as the total of the following Secured Liabilities of the Debtor (JSC “RAO ES of the East”) under the Credit Contract on opening a credit line No. 4016-016-КЛ from July 8, 2016 (hereinafter - the credit line), concluded with the Bank:

1.1 The maximum amount of loan funds (the credit line limit) - 1 629 878 500 (One billion six hundred twenty-nine million eight hundred seventy-eight thousand five hundred) RUB 45 kopecks;

1.2 The amount of interest for the use of loan funds: for the entire duration of the credit line at the rate of 11.09% per annum.

The interest rate for credit funds use may be changed unilaterally by the Bank, including in connection with the change in the Bank of Russia refinancing rate and/or a change in the key rate of the Bank of Russia.

1.3 A penalty in the amount of 0.05% of accrued in the amount of overdue principal debt and interest for each day of the delay;

1.4. The early repayment charge is 0.25 % per annum of the early repaid credit amount (its part) during the first thirty (30) months from the date of signing of the Credit Contract on opening a credit line.

The term of repayment of loan funds is 84 (eighty-four) months from the date of the Credit Contract on opening a credit line.

Price (money value) of property that may be expropriated under the Guarantee Contract, is less than 2% of the Company's book value determined according to the financial statements of the Company as of the last reporting date (30.06.2016).

2. To approve the Guarantee contract as an interested party transaction on the following material terms:

Parties to the Contract:

Lender - Bank GPB (JSC);

Guarantor — PJSC "RusHydro";

Beneficiary – JSC "RAO ES of the East".

Subject of the Contract:

The Guarantor shall be obliged solidary with the Beneficiary to the Creditors to be responsible for Beneficiary’s fulfilment of its obligations to the Creditor arising from the Credit Contract on opening a credit line.

Obligation accepting guarantorship:

Credit Contract on opening a credit line No. 4016-016-КЛ dated of July 8, 2016 between JSC "RAO ES of the East" and Bank GPB (JSC):

The maximum amount of credit (the credit line limit) - 1 629 878 500 (One billion six hundred twenty-nine million eight hundred seventy-eight thousand five hundred) RUB 45 kopecks;

The term of repayment of credit is 84 (eighty-four) months from the date of the Credit Contract on opening a credit line;

The interests on the credit use are 11.09% per annum;

The early repayment charge is 0.25 % per annum of the early repaid credit amount (its part) during the first thirty (30) months from the date of signing of the Credit Contract on opening a credit line.

Price of the Contract:

shall be determined in accordance with clause 1 hereof.

Term of the Contract:

The Contract shall enter into force from the date of its signing and is valid until July 7, 2026.


Voting results:

"For" - 10 (A.D. Avetisyan, P. S. Grachyov, S.N. Ivanov, V.V. Pivovarov, N. R. Podguzov, N. D. Rogalyov, Yu.P. Trutnev, A.O. Chekunkov, S.V. Shishin, A.N. Shishkin).

"Against" — 0.

"Abstain" — 2 (M.S. Bystrov, V.M. Kravchenko).

The Guarantee Contract between PJSC “RusHydro” and GPB Bank (JSC) to secure the obligations of PJSC “RAO ES” of the East being a non-arm’s length transaction due to the fact that Member of the Board of Directors, Chairman of the Management Board — Director General of PJSC “RusHydro” N.G. Shulginov is simultaneously a member of the Board of Directors of PJSC “RAO ES” of the East (beneficiary under the transaction).

In accordance with Article 83 of the Federal Law "On Joint-Stock Companies", the resolution on this issue shall be adopted by the Company's Board of Directors by a majority of votes of independent directors, who are not interested parties.

During counting of votes on this item, the vote of member of the Board of Directors, Chairman of the Management Board - General Director of PJSC “RusHydro” N.G. Shulginov recognised as the person interested in the transaction and as a non-independent director in accordance with Article 81 and Clause 3 of Article 83 of the Federal Law “On Joint-Stock Companies” shall not be taken into account.

The resolution has been adopted.


Item 4.4: On approval of an Contract between PJSC “RusHydro” and the Federal Budgetary Educational Institution of Higher Education National Research Moscow State University of Civil Engineering (NRU MSUCE), as an interested party in transaction.


Resolution:

1. To determine that the total price of rendered services under the Contract between PJSC “RusHydro” and NRU MSUCE being a non-arm’s length transaction, is amounted to 280 604 (two hundred and eighty thousand six hundred and four) RUB 00 kopecks, including VAT (18%) - 42 804 (forty two thousand eight hundred and four) RUB 00 kopecks.

2. To approve the Contract between PJSC “RusHydro” and NRU MSUCE as a non-arm's length transaction on the following material terms:

Parties to the Contract:

Performer - NRU MSUCE

Customer — PJSC "RusHydro";

Subject of the Contract:

The performer as per the Customer's order at its sole risk using their own materials and tools shall provide the services: “The involvement in work of the Commission for Technical Audit of OJSC “Viluiskaya HPP-3” in terms of evaluation of technical conditions of the main hydraulic structures” (hereinafter - “Services”), and the Customer shall create conditions for the Services to the Performer specified in the terms of the Contract, accept and pay for the Services in accordance with the terms of the Contract.

Price of the Contract:

shall be determined in clause 1 hereof.

The period of services rendering:

Beginning - from the day following the date of conclusion of the Contract;

End - 30.07.2016

Validity of the Contract:

The Contract shall enter into force on the date of its approval by the Board of Directors of the PJSC “RusHydro”. The Contract shall be valid until the full execution of obligations by the Parties. The Contract conditions shall be applied to Parties' relations arising from June 20, 2016.


Voting results:

"For" - 11 (A.D. Avetisyan, M.S. Bystrov, P. S. Grachyov, S.N. Ivanov, V.V. Pivovarov, N. R. Podguzov, N. D. Rogalyov, Yu.P. Trutnev, A.O. Chekunkov, S.V. Shishin, A.N. Shishkin).

"Against" — 1 (V.M. Kravchenko).

“Abstain” — 0.

Contract between PJSC “RusHydro” and NRU MSUCE being a non-arm’s length transaction due to the fact that Member of the Board of Directors, Chairman of the Management Board — Director General of PJSC “RusHydro” N.G. Shulginov is simultaneously a member of the Board of Trustees of NRU MSUCE.

In accordance with Article 83 of the Federal Law "On Joint-Stock Companies", the resolution on this issue shall be adopted by the Company's Board of Directors by a majority of votes of independent directors, who are not interested parties.

During counting of votes on this item, the vote of member of the Board of Directors, Chairman of the Management Board - General Director of PJSC “RusHydro” N.G. Shulginov recognised as the person interested in the transaction and as a non-independent director in accordance with Article 81 and Clause 3 of Article 83 of the Federal Law “On Joint-Stock Companies” shall not be taken into account.

The resolution has been adopted.


Item 4.5: On conclusion of the transaction, related to gratuitous transfer of property.


Resolution:

1. To approve the conclusion of the Contract for free transfer of property on the following essential conditions:

Parties to the Contract:

Party 1— PJSC "RusHydro";

Party 2 - Perm city (Municipal unit).

Subject of the Contract: PJSC “RusHydro” is obliged to transfer without compensation to the municipal property, and the Perm city (municipal unit), is obliged to take the real estate in accordance with the terms of the Contract: motor road bridge across the Kama River, located at the address: 329 Solikamskaya Street, Ordzhonikidzevsky District, Perm, Perm Territory, purpose: other construction (motor road bridge); cadastral number: 59:01:2910332:65

Balance (depreciated) cost of the property transferred as of August 31, 2016:

3 786 844.28 (three million seven hundred and eighty-six thousand eight hundred forty-four RUB) 28 kopecks.

2. To instruct the Company's Board to provide necessary level of safety of Kamskaya HPP hydraulic structures after the transfer into the municipal property of motor road bridge across the Kama river in the Perm city in accordance with clause 1 of the present resolution.


Voting results:

"For" - 11 (A.D. Avetisyan, P. S. Grachyov, S.N. Ivanov, V.V. Pivovarov, N. R. Podguzov, N. D. Rogalyov, Yu.P. Trutnev, A.O. Chekunkov, S.V. Shishin, A.N. Shishkin, N.G. Shulginov).

"Against" — 0.

"Abstain" — 2 (M.S. Bystrov, V.M. Kravchenko).

The resolution has been adopted.


Item 4.6: On approving the non-arm's length transaction.


Resolution:

1. To determine that the Supplementary contract No. 2 of 09.19.2016 (hereinafter - Supplementary contract) to the Contract No. 01-08 / 827 of 18.12.2012 on budgetary investments (hereinafter - the Contract)) does not change the price of the Contract, and therefore the price of the supplementary contract is not determined in accordance with Articles 83 and 77 of the Federal law "On joint Stock Companies".

2. To approve the conclusion of the PJSC “RusHydro” Supplementary Contract as a non-arm's length transaction on the following material terms:

Parties to the Supplementary Contract:

PJSC “RusHydro”, Federal Agency for the Administration of State Property and Ministry of Energy of the Russian Federation.

Subject of the Supplementary Contract:

Execution of the requirements of 359-FZ “On the Federal Budget for 2016”No. and the order 598 of the Ministry of Energy of Russia from June 27, 2016 “On the use of the balances of 2016, unit source of which are not used in 2015, provided to the public joint-stock company “RusHydro” budget investment in 2012” in terms of transfer to the personal account not party to the budget process in the federal Treasury Department for Moscow city (FTD) received budget investments of $ 6.098 billion RUB to be used for the construction of CHP Plant in Sovetskaya Gavan in accordance with the requirements of the Contract and the rules of treasury support in 2016 of government contracts, contracts (agreements), as well as contracts, agreements, accords concluded within the framework of their execution, approved by Resolution No. 70 of the Russian Government dated 02.04.2016.


Voting results:

"For" - 10 (A.D. Avetisyan, P. S. Grachyov, S.N. Ivanov, V.V. Pivovarov, N. R. Podguzov, N. D. Rogalyov, Yu.P. Trutnev, A.O. Chekunkov, S.V. Shishin, A.N. Shishkin).

"Against" — 0.

“Abstain” — 1 (M.S. Bystrov).

Supplementary agreement to the Contract on the provision of public investment between PJSC “RusHydro” and the Federal Agency for State Property Management and the Ministry of Energy being a non-arm’s length transaction due to the fact that the Russian Federation represented by the Federal Property Management Agency - shareholder of the Company holds 66.84% of the ordinary shares of the Company.

In accordance with Article 83 of the Federal Law "On Joint-Stock Companies", the resolution on this issue shall be adopted by the Company's Board of Directors by a majority of votes of independent directors, who are not interested parties.

During counting of votes on this item, the vote of member of the Board of Directors, Chairman of the Management Board - General Director of PJSC “RusHydro” N.G. Shulginov recognised as a non-independent director in accordance with Clause 3 of Article 83 of the Federal Law “On Joint-Stock Companies” shall not be taken into account.

The resolution has been adopted.


Item 4.7: On approving the non-arm's length transaction.


Resolution:

1. To determine that the price (monetary value) of the property under the Supplementary contract to the Contract on the provision of public investment No. 01-08/827 of December 18, 2012 (hereinafter - Contract) amounts a total of following values:

- the amount of penalties for failure to achieve the target values of performance indicators of the Company, provided by the Clause 3.2.10 of the Contract - 1 (one) % from the funds provided by Clause 1.1 of the Contract for the non-fulfilment of each performance indicator in the reporting period;

- the amount of penalty fee for non-fulfilment of obligations by the Company for putting into operation of each object in the scheduled time specified in clause 2.5 of the Contract - 500 000 (five hundred thousand), multiplied by the number of days equal to the number of days passed from the date of the planned term of putting into operation of object specified in clause 2.5 of the Contract, until the actual date of putting into operation of object.

2. To approve the Supplementary contract to the Contract as an interested party transaction on the terms in accordance with the Annex 12 to the present minutes.


Voting results:

"For" - 9 (A.D. Avetisyan, P. S. Grachyov, S.N. Ivanov, V.V. Pivovarov, N. D. Rogalyov, Yu.P. Trutnev, A.O. Chekunkov, S.V. Shishin, A.N. Shishkin).

"Against" — 0.

"Abstain" — 2 (M.S. Bystrov, N. R. Podguzov).

Supplementary agreement to the Contract on the provision of public investment between PJSC “RusHydro” and the Federal Agency for State Property Management and the Ministry of Energy being a non-arm’s length transaction due to the fact that the Russian Federation represented by the Federal Property Management Agency - shareholder of the Company holds 66.84% of the ordinary shares of the Company.

In accordance with Article 83 of the Federal Law "On Joint-Stock Companies", the resolution on this issue shall be adopted by the Company's Board of Directors by a majority of votes of independent directors, who are not interested parties.

During counting of votes on this item, the vote of member of the Board of Directors, Chairman of the Management Board - General Director of PJSC “RusHydro” N.G. Shulginov recognised as a non-independent director in accordance with Clause 3 of Article 83 of the Federal Law “On Joint-Stock Companies” shall not be taken into account.

The resolution has been adopted.


Item 4.8: On approval of the Contract on a purchase and sale of hydraulic structures - dams of Angara HPP Cascade, representing a transaction connected with expropriation of the Company, constituting the fixed assets.


Resolution:

To approve the Contract on a purchase and sale of real estate - hydraulic structures - dams of Angara HPP Cascade owned by PJSC “RusHydro” (hereinafter - Property) on the following material terms:

Parties to the Contract:

Seller — PJSC "RusHydro";

Purchaser - LLC Telmamskaya HPP

Subject of the Contract:

The Seller shall transfer to the possession of the Buyer and the Buyer shall accept and pay for the Property owned by the Seller based on the right of ownership, list of which is specified in Annex 13 to the present minutes.

Price of the Contract:

Value of the property amounts to 9,280,000,000 (nine billion two hundred eighty million) RUB plus VAT (18%) - 1,670,400,000 (one billion, six hundred and seventy million four hundred thousand) RUB, total - 10950400000 (nine hundred and fifty ten billion million four hundred thousand), but not less than the market value determined by an independent appraiser.

Procedure of Payment:

Payment for the property made by the Buyer at the same time in the amount of 10,950,400,000 (ten billion nine hundred fifty million four hundred thousand) not later than 10 (ten) working days from the date of state registration of property rights of the Buyer on property in Unified State Register of rights to real estate and transactions with them.


Voting results:

"For" - 12 (A.D. Avetisyan, P. S. Grachyov, S.N. Ivanov, V.M. Kravchenko V.V. Pivovarov, N. R. Podguzov, N. D. Rogalyov, Yu.P. Trutnev, A.O. Chekunkov, S.V. Shishin, A.N. Shishkin, N.G. Shulginov).

"Against" — 0.

“Abstain” — 1 (M.S. Bystrov).

The resolution has been adopted.


Item 4.9: On defining the position of PJSC “RusHydro” (representatives of PJSC “RusHydro”) on the agenda item of the meeting of subsidiary governing bodies - JSC “Blagoveshchenskaya CHP”: “On approval of the contract between JSC “Blagoveshchenskaya CHP Plant” and PJSC “Power Machines” to carry out construction and assembly work with Minutes of reconciliation of disagreements, being a related transaction with the General Contractor Contract on construction of “Blagoveshchenskaya CHP” (the 2nd stage)" No. 1-КС-2013-БТЭЦ-2/12А of 26.12.2013, being a major transaction".


Resolution:

To instruct the representatives of PJSC “RusHydro” to vote in favour of the following decision at the General Meeting of the Shareholders of JSC “Blagoveshchenskaya CHP”on the agenda item: “On approval of the contract between JSC “Blagoveshchenskaya CHP” and PJSC “Power Machines” to carry out construction and assembly work with Minutes of reconciliation of disagreements, being a related transaction with the General Contractor Contract on construction of “Blagoveshchenskaya CHP” (the 2nd stage) No. 1-КС-2013-БТЭЦ-2/12А of 26.12.2013, being a major transaction” to vote in favour of adopting of the following resolution:

1. To approve the contractor contract between JSC “Blagoveshchenskaya CHP” and PJSC “Power Machines” to perform construction and assembly work (hereinafter referred to as the Contract) with Minutes of reconciliation of disagreements, being a related transaction with the general contractor contract No. 1-КС-2013-БТЭЦ-2/12A dated 26.12.2013 on construction of a facility “The second phase of Blagoveshchenskaya CHP” (hereinafter referred to the general contractor contract), approved by the Extraordinary General Meeting of the Shareholders of JSC “Blagoveshchenskaya CHP” (resolution of PJSC “RAO ES of the East” - being a trustee of the rights attached to the shares of JSC “Blagoveshchenskaya CHP” No. 02/2013-БТЭЦ of 25.12.2013), representing a major transaction, on the following material terms:

Parties to the Contract:

Customer — JSC “Blagoveshchenskaya CHP”;

Contractor — |PJSC “Power Machines”.

Subject of the Contract:

The Contractor shall perform construction and assembly work on objects “Fire Pump Station”, “Fire protection” (the applying of fire-retardant coating on bearing metal of the installed equipment) using own materials, and the Customer shall accept the results of Work and pay for it.

The Place of Work performance: Russian Federation, Amur Oblast, Blagoveshchensk, 177 Zagorodnaya Street;

The scope of work and the requirements for its implementation are defined in accordance with the “Project documentation - a set of detailed documentation”, which is part of the project documentation for the facility “Construction of the second stage of Blagoveshchenskaya CHP”.

Price of the Contract:

64 216 654 (sixty-four million, two hundred and sixteen thousand six hundred fifty-four) RUB 85 kopecks, including VAT (18%) - 9 795 760 (nine million seven hundred and ninety-five thousand seven hundred sixty) RUB 91 kopecks.

The price of related transactions the Contract and the price of the general contractor contract is 7 262 397 476 (seven billion two hundred sixty-two million three hundred ninety-seven thousand four hundred seventy-six) RUB 99 kopecks.

The Period of Work Performance:

From 20.01.2016 till 30.11.2016.

Validity of the Contract:

The Contract shall enter into force from the date of its signing and shall be valid until the Parties completely fulfil their obligations hereunder.

In accordance with Clause 1 of Art. 425 ГК РФ provisions of the Contract are applicable to the relations between the Parties effective since October 7, 2015.

2. To consider invalid the Resolution of extraordinary general meeting of JSC “Blagoveshchenskaya CHP” (resolution of PJSC “RAO ES of the East” - Fiduciary Trustee on the shares of JSC “Blagoveshchenskaya CHP” No. 01/2016-БТЭЦ of June 8, 2016) as to the agenda item “On “On approval of conclusion of the contractor contract between JSC “Blagoveshchenskaya CHP” and OJSC “Power Machines” to carry out construction and assembly work, being a related transaction with the general contractor contract on construction of “Blagoveshchenskaya CHP (the 2nd stage)” No. 1-КС-2013-БТЭЦ-2/12А of 26.12.2013, being a major transaction".


Voting results:

"For" - 10 (A.D. Avetisyan, P. S. Grachyov, S.N. Ivanov, V.V. Pivovarov, N. R. Podguzov, N. D. Rogalyov, Yu.P. Trutnev, A.O. Chekunkov, S.V. Shishin, A.N. Shishkin).

"Against" — 0.

“Abstain” — 1 (M.S. Bystrov).

The resolution has been adopted.


Item 4.10: “On approval of the guarantee contract between PJSC “RusHydro” and PJSC Sberbank, being a non-arm's length transaction”.


Resolution:

1. To determine that the price of the Guarantee Contract between Company and PJSC Sberbank (hereinafter referred to as “the Bank”), being a non-arm’s length transaction (hereinafter referred to as “The Guarantee Contract”), shall be determined as a total of the following obligations by the Warrantor for the Borrower (PJSC RAO ES of the East) under the Contract on opening non-revolving credit line No. 900160016 from July 28, 2016 (hereinafter referred to as “the Loan Contract”), concluded for the purposes of financing the project “Construction of the off-site infrastructure facilities for Sakhalin GRES-2" (hereinafter referred to as “the Project”):

1.1. The maximum amount of credit (credit line) - 6,077,780,556 (six billion seventy-seven million seven hundred eighty thousand five hundred fifty-six) RUB 04 kopecks;

1.2. Interest rate on the loan funds use is 10.83% per annum.

The interest rate may be increased/decreased unilaterally by the Bank, including in connection with the change in the Bank of Russia refinancing rate and/or the key rate.

1.3. A penalty in the amount of interest referred to in clause 1.2 of the present resolution, multiplied by 1.5 times accrued in the amount of overdue principal debt, interests and payment of fees for each day of the delay from the date of occurrence of arrears (excluding this date) to the date of full repayment of overdue debt (inclusive);

1.4. A penalty in the amount of 0.025% from the credit line limit for each case of non-fulfilment of obligations by the Borrower to maintain credit turnovers on accounts opened in the Bank in accordance with established for the next calendar quarter size.

1.5. Commission for reservation of 0.5% of the credit line - 30 388 902 (thirty million three hundred and eighty-eight thousand nine hundred and two) RUB 78 kopecks;

Commission for reservation shall be paid on a time basis to the first loan issue.

1.6. The Commission for the use of the limit of the credit line in the amount of 0.5% per annum on the remaining balance of the limit of the Credit Contract.

Commission is calculated for the period from the first date of the limit (28.07.2016) (excluding this date) to the date of the end of the availability period (28.07.2018) or to the date of full repayment of the credit, carried out before the date of the availability period, provided the sample credit limit in full lines (inclusive);

1.7. Early repayment charge of the credit in the amount not exceeding 3 % per annum of the early repaid credit amount.

The limit price of property that may be expropriated under the Guarantee Contract, is less than 2% of the Company’s book value determined according to the financial statements as of the last reporting date.

2. To approve the Guarantee contract as an interested party transaction on the following material terms:

Parties to the Contract:

Bank — PJSC Sberbank;

Guarantor — PJSC "RusHydro";

Beneficiary – JSC "RAO ES of the East" (the Borrower).

Subject of the Contract:

Guarantee for the Borrower’s obligations fulfilment to the Bank under the Credit Contract to finance the Project.

Principal terms and conditions of the Loan Contract:

The maximum amount of credit (credit line) - -6,077,780,556 (six billion seventy-seven million seven hundred eighty thousand five hundred fifty-six) RUB 04 kopecks;

Maturity date: - July 28, 2028.

Interest rate on the loan funds use is 10.83% per annum. The interest rate may be changed unilaterally by the Bank, including in connection with the change in the Bank of Russia refinancing rate and/or the key rate.

The Commission for the use of the limit of the credit line - 0.5% per annum on the remaining balance of the limit of the Credit Contract.

Early repayment charge of the credit in the amount not exceeding 3 % per annum of the early repaid credit amount.

Commission for reservation of 0.5% of the maximum credit line - 30 388 902 (thirty million three hundred and eighty-eight thousand nine hundred and two) RUB 78 kopecks;

Price of the Contract:

Shall be determined in accordance with clause 1 hereof.

Term of the Contract:

The Contract shall enter into force from the date of its signing. The Contract and Guarantee are valid until July 28, 2031.

3. To instruct Chairman of the Management Board - General Director of PJSC “RusHydro” N.G. Shulginov in accordance with Chapter 46 of the Regulations on Disclosure of Information on Equity Securities by Issuers, approved by the Bank of Russia No. 454-П of December 30, 2014 to disclose information about persons that are parties and beneficiaries, material terms and price of the transactions set forth in clauses 1 and 2 of this decision, after their execution in accordance with the procedure established by the legislation of the Russian Federation.


Voting results:

"For" - 10 (A.D. Avetisyan, P. S. Grachyov, S.N. Ivanov, V.V. Pivovarov, N. R. Podguzov, N. D. Rogalyov, Yu.P. Trutnev, A.O. Chekunkov, S.V. Shishin, A.N. Shishkin).

"Against" — 0.

"Abstain" — 2 (M.S. Bystrov, V.M. Kravchenko).

The Guarantee Contract between PJSC “RusHydro” and PJSC Sberbank to secure the obligations of PJSC “RAO ES of the East” being a non-arm’s length transaction due to the fact that Member of the Board of Directors, Chairman of the Management Board — Director General of PJSC “RusHydro” N.G. Shulginov is simultaneously a member of the Board of Directors of PJSC RAO ES of the East (beneficiary under the transaction).

In accordance with Article 83 of the Federal Law “On Joint-Stock Companies”, the resolution on this issue shall be adopted by the Company’s Board of Directors by a majority of votes of independent directors, who are not interested parties.

During counting of votes on this item, the vote of member of the Board of Directors, Chairman of the Management Board - General Director of PJSC “RusHydro” N.G. Shulginov recognised as the person interested in the transaction and as a non-independent director in accordance with Article 81 and Clause 3 of Article 83 of the Federal Law “On Joint-Stock Companies” shall not be taken into account.

The resolution has been adopted.


Item 4.11: “On approval of the Guarantee Contract between PJSC “RusHydro” and RRDB Bank (JSC), being a non-arm's length transaction”.


Resolution:

1. To determine that the price of the Guarantee Contract between the Company and “RRDB Bank” (JSC) (hereinafter - the Bank) being a non-arm’s length transaction (hereinafter - the Guarantee Contract) defined as the total of the following Secured Liabilities of the Borrower (JSC “Magadanenergo”) under the Contract on opening a credit line No. 1451-К-16 from September 20, 2016 (hereinafter - the credit line), concluded with the Bank:

1.1. The maximum amount of credit (credit line) - 400 000 000 (four hundred million) RUB 00 kopecks;

1.2. The maximum amount of interest for the use of loan funds: for the entire duration of the credit line at the rate of 10.33% per annum.

The interest rate for credit funds may be increased/decreased by the Bank unilaterally including, but not limited to, due to Bank of Russia’s decisions to increase the key interest rate and/or refinancing rate (discount rate).

1.3. A penalty in the amount of interest referred to in clause 1.2 of the present resolution, multiplied by 1.5 times accrued on the overdue amount to repay the loan or pay interest for each day of the delay from the date of occurrence of arrears (excluding this date) to the date of full repayment of overdue debt (inclusive);

1.4. A penalty in the amount of 0.025% from the credit line limit specified in clause 1.1 of the present resolution for each case of non-fulfilment of obligations by the Borrower to maintain credit turnovers on their accounts opened in the Bank in accordance with size established for the next calendar quarter.

The limit price of property that may be expropriated under the Guarantee Contract, is less than 2% of the Company’s book value determined according to the financial statements as of the last reporting date.

2. To approve the Guarantee contract as an interested party transaction on the following material terms:

Parties to the Contract:

Bank - “RRDB Bank” (JSC);

Guarantor - The Company

Beneficiary - JSC “Magadanenergo” (Borrower).

Subject of the Contract:

Guarantee of the Company for the performance of the obligations of PJSC “Magadanenergo” to the Bank under the Contract on opening a credit line No. 1451-К-16 from September 20, 2016.

The maximum amount of loan funds (the credit line limit): 400,000,000 (four hundred million) RUB 00 kopecks;

The date of termination of credit: December 31, 2017

Interests on the loan use: 10.33% p.a.

The interest rate may be increased/decreased by the Bank unilaterally including, but not limited to, due to Bank of Russia's decisions to increase the key interest rate and / or refinancing rate (discount rate).

Price of the Contract:

Shall be determined in accordance with clause 1 hereof.

Term of the Contract:

The Contract shall enter into force from the date of its signing by Parties. The Contract and the obligation of the Guarantor (Guarantee) is valid from the date of signing of the Contract on December 31, 2017 inclusive.


Voting results:

"For" - 8 (A.D. Avetisyan, P. S. Grachyov, S.N. Ivanov, V.V. Pivovarov, N. D. Rogalyov, Yu.P. Trutnev, A.O. Chekunkov, A.N. Shishkin).

"Against" — 0.

“Abstain” — 3 (M.S. Bystrov, V.M. Kravchenko, N.R. Podguzov).

The Guarantee Contract concluded between PJSC RusHydro and the RRDB Bank (JSC) is recognized in accordance with Article 81 of the Federal Law "On Joint Stock Companies" is as an interested party transaction with regard to Member of the Board of Directors S.V. Shishin who is also the member of the Supervisory Board of the RRDB Bank (JSC).

In accordance with Article 83 of the Federal Law "On Joint-Stock Companies", the resolution on this issue shall be adopted by the Company's Board of Directors by a majority of votes of independent directors, who are not interested parties.

During counting of votes on this issue, the vote of member of PJSC RusHydro Board of Directors S.V. Shishin, recognised as the person interested in the transaction in accordance with Article 81 of the Federal Law “On Joint-Stock Companies”, and Chairman of the Management Board - Director General of PJSC “RusHydro” N.G. Shulginov, recognised as an independent director in accordance with Article 81 and Clause 3 of Article 83 of the Federal Law “On Joint-Stock Companies”, shall not be taken into account.

The resolution has been adopted.


Item 5: On approval of the Company's internal documents.


Item 5.1: On approval of the Internal Audit Policy of PJSC “RusHydro” in new version.


Resolution:

To approve the Internal Audit Policy of PJSC “RusHydro”, as amended (Appendix 14).


Voting results:

"For" - 13 (A.D. Avetisyan, M.S. Bystrov, P. S. Grachyov, S.N. Ivanov, V.M. Kravchenko V.V. Pivovarov, N. R. Podguzov, N. D. Rogalyov, Yu.P. Trutnev, A.O. Chekunkov, S.V. Shishin, A.N. Shishkin, N.G. Shulginov).

"Against" — 0.

“Abstain” — 0.

The resolution has been adopted.


Item 5.2: On approval of the Regulation regarding the Corporate Secretary of PJSC “RusHydro” in a new version.


Resolution:

To approve the Regulation on Corporate Secretary of PJSC “RusHydro” in the new version (Appendix 15).


Voting results:

"For" - 13 (A.D. Avetisyan, M.S. Bystrov, P. S. Grachyov, S.N. Ivanov, V.M. Kravchenko V.V. Pivovarov, N. R. Podguzov, N. D. Rogalyov, Yu.P. Trutnev, A.O. Chekunkov, S.V. Shishin, A.N. Shishkin, N.G. Shulginov).

"Against" — 0.

“Abstain” — 0.

The resolution has been adopted.


Individual opinion of the member of the Board of Directors of PJSC "RusHydro" V.M. Kravchenko is attached.



Chairman

of the Board of Directors
Yu.P. Trutnev
Corporate SecretaryM.V. Zavalko



[1] Considering changes made to fulfilment of Directives of the Russian Government No. 1346п-П13 of March 5, 2015 “On replacement of purchases of foreign products into purchases of Russian products” and No. 2303п-П13 of April 16, 2015 “On reduction of operating expenditures on 2-3%” and approved by resolutions of PJSC “RusHydro” Board of Directors of April 3, 2015 and of June 22, 2015 (Minutes No. 212 and no. 218).

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