27.02.2017
printable version
RSS

Results of the Board of Directors on February 21, 2017

February 27, 2017. Moscow, Russia. PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Company's Board of Directors held a meeting in absentia on February 21, 2017.


***


The Board of Directors approved Provision on RusHydro’s information policy in new edition aimed to increase transparency and adopt best corporate governance practices and recent regulatory requirements both domestic and foreign.


***


The Board of Directors approved working plan of the Board of Directors for the first half of 2017.


***


The Board of Directors approved the agreement for services of regulation of reactive electric power without production of electricity between RusHydro and JSC SO UES (System Operator of United Power Systems).


***


The Board of Directors instructed RusHydro's representatives at the AGM of JSC Karachayevo-Cherkessia Hydrogeneration Company to approved a loan agreement in regard to RUB 244 485 thousand between RusHydro and Karachayevo-Cherkessia Hydrogeneration Company. The purpose of the loan is to replenish working capital of the subsidiary.


***


The Board of Directors approved Committees’ activities reports:

  • Strategy Committee for 2016 and
  • Strategy Committee for first half of 2016-2017 corporate year.


***


The Board of Directors took notice of design and budgeting documents on adjustment of investment program for 2017 and 2018-2020.


***


The Board of Directors approved the disposal of RusHydro shares belonging to RAO ES of East PJSC via sales agreement with the squeezed-out shareholders of RAO ES East, PJSC in March 13, 2016.


***


The Board of Directors approved the rescheduling of the review of findings of Ministry of energy field inspections of investment projects of thermal plants in the Far East to April 2017.


***


The Board of Directors took notice on measures aimed at raising funds for repayment RAO ES East debt.


***


The Board of Directors approved report on disposal of non-core assets in 2016. During the year the Company disposed of 157 objects, including: 115 objects were sold, 41 objects donated and 1 written-off.


***


The Board of Directors approved report on the Company charitable activity for 2016 and program for 2017.
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.