Results of the Annual General Meeting of Shareholders of RusHydro
JSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces the results of the Annual General Meeting of shareholders (AGM) held today, June 26, 2015.
The AGM approved the Company’s 2014 Annual Report and annual accounting statements.
The AGM approved the following distribution of profit for 2014 (in RUB):
The AGM resolved to pay dividends for 2014 in the amount of RUB 0.01561855 per share. The dividend record date is July 7, 2015.
The AGM elected 13 members to the Board of Directors:
The AGM elected 5 members to the Company’s Audit Commission:
The AGM approved the appointment of CJSC PriceWaterhouseCoopers Audit as the Company’s auditor for 2015.
The AGM resolved to pay remuneration to the members of the Board of Directors based on their performance from June 27, 2014 to June 26, 2015 in the amount and under the procedure set in the Regulations on remuneration to members of the Board of Directors of RusHydro.
The AGM approved the amended Articles of Association of RusHydro.
The amended Articles of Association reflect recent changes in the Russian Civil Code as well as established corporate governance practice and are aimed at securing the rights and legitimate interests of the Company’s shareholders.
The AGM approved the new version of the following internal documents:
The requirement to amend these documents arises from changes in the legislation, changes in the Civil Code of the Russian Federation; establish corporate governance practice and adoption of amended version of the Company’s Articles of Association.
The AGM approved participation of the Company in Non-Commercial Partnership Russian-Chinese Business Council (RCBC) under the following terms:
An agreement on establishing of the Russian-Chinese Business Council (RCBC) was signed on October 14th, 2004 during official visit of the President of the Russian Federation Vladimir Putin to the People’s Republic of China.
RCBC was founded to promote joint economic projects both in Russia and China and to facilitate cooperation between Russian and Chinese business community.
The Russian chapter of RCBC unites more than 50 largest Russian companies and business associations, conducting business with China. The Chinese chapter operates under the aegis of the Committee of International Trade Development Assistance and includes 40 largest Chinese companies.
The mission of RCBC is to facilitate direct contacts between Russian and Chinese entrepreneurs, to implement joint projects, to protect mutual investments and to settle corporate disputes.
At the present moment 27 large-scale Russian-Chinese projects are being implemented with direct support of RCBC with total worth of 8.9 billion dollars.
The AGM approved the liability and financial risk insurance agreement for Directors, Officers and Companies between RusHydro and OJSC SOGAZ, qualified as an interested party transaction.
The subject of the agreement is Directors and Officers liability (D&O) insurance that protects the company, its subsidiaries and managers from claims which may arise from the decisions and actions taken within the scope of their regular duties.
The Company is required to sign such agreement in order to comply with the Insurance Regulations of RusHydro.
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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