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Russian Institute of Directors confirmed RusHydro’s corporate governance rating

PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Russian Institute of Directors (RID), a non-profit organization specializing in corporate governance, has confirmed its National Corporate Governance Score (NCGS) for RusHydro 8 (Advanced Corporate Governance Practice) according to the NCGS scale. This score is the highest among the participants of the National Corporate Governance Score; 9 and 10 scores have not been assigned to any company. Only 4 Russian companies have NCGS score of 8.

The experts appreciated the following RusHydro’s initiatives:

  1. On June 19, 2015, RusHydro’s Board of Directors approved new edition of the Company’s Corporate Governance Code and the roadmap of introduction of provisions of the Corporate Governance Code, recommended by the Central Bank of Russia.
  2. The Company has been paying out dividends for five consecutive years. Thus, the shareholders decided to pay dividends RUB 6.03 bn or 25% of RusHydro Group’s net profit for the year 2014 under IFRS.
  3. RusHydro’s AGM held on June 27, 2015, elected new Board of Directors, consisting of 13 members, with independent directors representing more than 25% of the Board.
  4. The Company’s shareholders approved new editions of key corporate documents to comply with the requirements of the Russian legislation and corporate governance practices.
  5. In 2015, RusHydro held an open tender for selection of the Company’s auditor for 2015-2017. According to experts of the Russian Institute of Directors the Company’s audit practices are adequate.
  6. During 2015 the Board of Directors held 23 meetings, including more than 25% in the form of joint presence of directors.
  7. An independent consultant, non-commercial partnership for professional activities assistance “Association of independent directors”, made a distant assessment of the Company’s Board of Directors. 
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.
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