22.06.2010
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Regular Meeting of JSC RusHydro Board of Directors

On June 17, 2010, RusHydro Board of Directors held a regular meeting in absentia.

 

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RusHydro Board of Directors approved the combination of positions of a Member of the Board of Directors of JSC Financial Settlement Center and a Member of the Board of Directors of INTER RAO UES by E.V. Dod, Chairman of RusHydro Management Board.

 

The issue on approval of the positions combination by Chairman of RusHydro Management Board was presented for consideration by RusHydro Board of Directors according to Clause 17.8 of Article 17 of the RusHydro Charter under which the combination by Chairman of Management Board and Members of Management Board of positions in governance bodies of other organisations and paid offices in other organisations is allowed only with the approval of JSC RusHydro Board of Directors.

 

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JSC RusHydro Board of Directors took into consideration the report of Chairman of the Committee on Strategy on its performance in 2009-2010 corporate year.

 

The Report on performance of the Committee on Strategy in 2009-2010 corporate year included the performance results from July, 2009 till May, 2010. In this period, there were held 6 Committee meetings which considered 24 issues. The Committee Chairman’s report on performance results in 2009-2010 corporate year was approved by the decision of the Committee on Strategy from May 31, 2010.

 

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JSC RusHydro Board of Directors took into consideration the report of Chairman of the Committee on Audit on its performance in 2009-2010 corporate year.

 

The Report on performance of the Committee on Audit in 2009-2010 corporate year included the performance results from July, 2009 till April, 2010. In this period, there were held 6 Committee meetings which considered 22 issues. The Committee Chairman’s report on performance results in 2009-2010 corporate year was approved by the decision of the Committee on Audit from May 21, 2010.

 

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JSC RusHydro Board of Directors took into consideration the report of Chairman of the Committee on Personnel and Remuneration on its performance in 2009-2010 corporate year.

 

The Report on performance of Personnel and Remuneration in 2009-2010 corporate year included the performance results from June, 2009 till May, 2010. In this period, there were held 7 Committee meetings which considered 9 issues. According to Clause 14.1 of Provision on Personnel and Remuneration, the Committee Chairman’s report on performance results in 2009-2010 corporate year was approved by the decision of the Committee on Personnel and Remuneration from May 27, 2010.

 

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JSC RusHydro Board of Directors took into consideration the report of Chairman of the Committee on Investments on its performance in 2009-2010 corporate year.

 

The Report on performance of the Committee on Investments in 2009-2010 corporate year included the performance results from June, 2009 till April, 2010. In this period, there were held 6 Committee meetings which considered 9 issues.

 

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JSC RusHydro Board of Directors took into consideration the report of Chairman of the Committee on Reliability, Energy Efficiency, and Innovations on its performance in 2009-2010 corporate year.

 

The Report on performance of the Committee on Reliability, Energy Efficiency, and Innovations in 2009-2010 corporate year included the performance results from February, 2010 till June, 2010. In this period, there were held 2 Committee meetings which considered 7 issues.

 

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JSC RusHydro Board of Directors approved the interested-party Addendum to Electric Power (Capacity) Purchase Agreement concluded between JSC Sevkavkazenergo and JSC RusHydro.

 

The conclusion of Addendum No.4 to Electric Power (Capacity) Purchase Agreement from April 01, 2006 No. 21-04/06 between JSC Sevkavkazenergo and JSC RusHydro is brought about by the need of estimation of planned total power volumes for 2010 to be supplied by the Supplier to the Customer in accordance with the terms and conditions of Agreement used for estimation of the planned cost of power energy to be supplied to the Customer within the accounting period. As the transaction amount under the Addendum is less than 2 percent of the book value of JSC RusHydro assets, in accordance with Clause 3 of Article 83 of Federal Law on joint-stock companies, the transaction approval decision must be taken by the Company Board of Directors by a majority vote of impendent directors not interested in the transaction conclusion.

 

JSC RusHydro Board of Directors approved interested-party transactions made by JSC RusHydro (represented by the Branch, Corporate University of Hydropower) with JSC Irkutskenergo and TGK-1. The agreements are planned to be concluded for the purpose of improvement of the professional level of operative HPP personnel, introduction of advanced and latest operating procedures, and in accordance with JSC RusHydro Resolution from February 24, 2010 No. 209r «On carrying out the Fourth All-Russia competitions of operating HPP personnel».

 

he subject-matter of the agreement with JSC Irkutskenergo are the services on the arrangement and carrying out of operating HPP personnel regional competitions for three teams of JSC Irkutskenergo branches: Bratskaya, Irkutskaya, and Ust-Ilimskaya HPPs on the basis of Bratskaya HPP.

 

The subject-matter of the agreement with ТGK-1 are the services on the arrangement and carrying out of operating HPP personnel regional competitions for a team of JSC ТGK-1 on the basis of the Branch, JSC Generating Company — Nizhnekamskaya HPP (Republic Tatarstan, Naberezhnye Chelny).

 

JSC RusHydro Board of Directors approved the agreement concluded between JSC RusHydro and Government Agency, Service of Project Owner of Construction Ministry of Khabarovsk Region, the subject-matter of which is transfer of property (property rights) without compensation.

 

The Agreement provides for the transfer of funds which are intended for financing the completion of construction of Anyujskiy fish-breeding factory. The factory construction was provided for by the Burejskaya HPP civil-engineering project as a compensatory measure and is a component of the complex of works which should be executed simultaneously with the hydroelectric power station input in operation. In this connection, JSC RusHydro Board made the decision to finance the specified works at the expense of JSC RusHydro means.

 

JSC RusHydro Board of Directors approved the agreement concluded between JSC RusHydro and Municipal Budgetary Agency, Capital Construction Management +, the subject-matter of which is transfer of property (property rights) without compensation.

 

The Agreement provides for the transfer of money means which are intended for updating the design and budget documentation for completion of works on engineering protection of Minusinsk residential zone. The construction works of engineering protection of Minusinsk residential zone began in the Soviet period within the framework of construction of Sayano-Shushenskiy hydro-power complex. The works were assigned to RSFSR Ministries and Departments and also on Executive Committee of Krasnoyarsk Regional Council of Deputies of Workers. Within the 90-th years, the work was suspended and has not been completed so far. In view of the need of completion of these works, JSC RusHydro has arranged work with JSC Leningrad Project design institute on estimation of the cost and structure of works. By now, the cost estimation of works has been made, the decision of the Administration of Krasnoyarsk Region has established the project owner of works, and, for the further implementation of the project, the agreement between the project owner and JSC RusHydro must be concluded.

 

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JSC RusHydro Board of Directors approved the position of the Company on the agenda of the Meeting of Board of Directors of a dependent company JSC OGK-1, in respect of fulfillment of a large transaction and participation in other organisations.

 

JSC RusHydro Board of Directors assigned the Company representatives in JSC OGK-1 Board of Directors to vote «AFIIRMATIVELY» when adopting the decision on the issue «On approval of the terms and conditions of the general contract for construction of steam and gas power unit PGU-450 (including the equipment delivery) as a large transaction» with JSC Tehnopromeksport Foreign Economic Association.

 

According to the decision of Board of Directors (Minutes of the Board of Directors Meeting from February 27, 2010 No.141) JSC OGK-1 held an open two-stage competition to the right of signing the contract for construction of steam and gas power unit PGU-450 (including the equipment delivery) for JSC OGK-1 Branch, Urengojskaya GRES power plant, for JSC OGK-1 needs. The Competition Winner, JSC Tehnopromeksport Foreign Economic Association , was established by the competition results (Minutes of the Competition Committee Meeting from April 05, 2010 4/5/2010 No.10, Minutes on competition results (tripartite) from April 6, 2010 No. 11).

 

According to paragraph zh) of Sub-clause 28 of Clause 12.1 of Article 12 of JSCRusHydro Charter, the Company Board of Directors determines the position on approval of large transactions made by subsidiaries and dependent companies.

 

JSC RusHydro OBoard of Directors assigned the Company representatives in JSC OGK-1 Board of Directors to vote «AFIIRMATIVELY» when adopting the decision on changing the JSC OGK-1 shareholding in JSC Technologic Transport Management. It is assumed to increase the JSC OGK-1 shareholding in JSC Technologic Transport Management up to the 100% -shareholding. At present, JSC OGK-1 owns the 99.99% — shareholding, and the 0.01% -shareholding is distributed among individual shareholders, —

 

According to paragraph z) of Sub-clause 28 of Clause 12.1 of Article 12 ofJSC RusHydro Charter, the Company Board of Directors determines the position on agendas of meetings of Boards of Directors of subsidiaries and dependent companies on participation in other organisations, on acquisition, alienation and encumbrance of shares and stockholdings in equity capital of organisations.

 

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JSC RusHydro Board of Directors approved the report on Company KPI performance for the 1st quarter of 2010.

 

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