Results of the Board of the Boards of Directors Meeting
JSC RusHydro (ticker symbol: MICEX-RTS, LSE: HYDR; OTCQX: RSHYY) announces the results of the Board of Directors meeting held in absentia April 28th, 2012.
The Board of Directors took into consideration a report on 2010 and 2011 metal products procurement.
Metal products procurement is conducted to provide for the reliable operation of corporate equipment. RusHydro carries out procurement via public competitive tenders and complies with Regulations on Procurement Procedures, as approved by RusHydro's Board of Directors.
Due to the absence of direct long-term contracts for metal products supply concluded by RusHydro, the Company's Board of Directors found the idea of introducing direct long-term contracts for metal products supply to be unreasonable.
The Board of Directors took into consideration a report on RusHydro's environmental responsibility mechanisms and recognized that they meet requirements of the Russian Government's Directive, which requires that state-owned companies must adopt documents regulating environmental issues.
RusHydro implements numerous measures aimed at providing for environmental safety and increasing its level as a part of environmental responsibility. The Company approved the Environmental Policy; programs on implementing environmental policy are being fulfilled by its branches. The Company implements management systems that meet international standards in this sphere. Moreover, RusHydro is working on a corporate sustainability and social responsibility report that contains information on the Company's economic, environmental and social results.