09.07.2008
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JSC RusHydro’s Charter is officially registered

The restated (fifth) version of the Charter of JSC RusHydro, approved by the annual General Meeting of Company Shareholders on 25 June 2008, has been officially registered.

As of 4 July 2008, the full corporate name of the Company shall be Open Joint-Stock Company RusHydro, and its abbreviate corporate name — JSC RusHydro.

OAO HydroOGK was renamed JSC RusHydro to highlight its updated strategy and its entry onto the Russian and foreign stock markets, and to comply with the legislative restrictions on use of the words "Russian Federation" and derivatives thereof in corporate names.

Let us recall that yesterday (July 8), JSC RusHydro published the audited consolidated financial statements of the group of companies for 2007, compiled in accordance with the International Accounting Standards (IAS).

The group’s aggregate proceeds for 2007 rose by 23,677 million rubles (98.3%) to reach 47,770 million rubles, as against 24,092 million rubles in 2006. The net profit of the RusHydro Group in 2007 went up by 6,210 million rubles on the previous year’s figure, not taking into account the restored reserve provision for devaluation of fixed assets in 2006 and profit tax on the restored reserve provision for devaluation of fixed assets in 2006, and amounted to 6,525 million rubles.

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