HydroOGK becomes RusHydro
The General Meeting of Shareholders of JSC HydroOGK on 25 June, 2008 adopted a resolution to change the corporate name of the company. Henceforward, its full name in Russian will be Открытое акционерное общество РусГидро, and its abbreviated name — OAO РусГидро. The full and abbreviated names are fixed in the new version of the Company’s Articles of Association, approved by the General Meeting of Shareholders.
The need to change the corporate name was engendered by implementation of the updated strategy and the Company’s entry on to the Russian and foreign securities markets. Under these conditions, the corporate name needs to position the company as precisely as possible and work on its key target audiences.
This is the first rebranding to have taken place in the history of the Russian hydro-electric power industry. Most names of hydro-electric power companies on the world market are made up of the industry designation (Hydro) and the geographical location or connection to a specific state. The name РусГидро/RusHydro clearly shows that the company belongs to the hydro-electric power industry and Russia. In addition, the name meets the characteristics of consistency and combination with the English nameм — JSC RusHydro, as well as complying with global trends in how hydro-electric power companies are named.
In connection with the change in the Company’s name, a new set of Company symbols is to be adopted and presented for approval by the Company Board of Directors on 18 July, 2008.
Shares / ADR