Results of the Board of Directors Meeting on March 16, 2012
JSC RusHydro (ticker symbol: MICEX RTS, LSE: HYDR; OTCQX: RSHYY) reports that its Board of Directors held a meeting in absentia March 16th, 2012.
The Company's Board of Directors approved bilateral agreements for the sale and purchase of electric energy produced by RusHydro's Sayano-Shushenskaya hydropower plant. The agreements will be concluded by RusHydro and electricity retail companies - Khakasenergosbyt and Abakanenergosbyt. In addition, a price formula for these agreements was set.
The aggregate volume of electric energy supplied in accordance with the concluded agreements with Abakanenergosbyt will not exceed 116,700 MWh. Energy supplied in compliance with the agreements signed with Khakasenergosbyt will not exceed 638,670 MWh.
The decisions on items 2 and 3 of the Board's agenda as well as the parties of the deal will be disclosed after the transaction is made, in compliance with the disclosure regulations of FSFM of Russia.
The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of RusHydro. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might," the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially from these statements. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industries, as well as many other risks specifically related to RusHydro and its operations.
Shares / ADR