29.06.2018
printable version
RSS

Results of the Annual General Meeting of Shareholders of RusHydro

June 29, 2018. Moscow, Russia. PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces the results of the Annual General Meeting of shareholders (AGM) held on June 27, 2018 in Moscow.


Key highlights:

  • AGM approved dividend in the amount of RUB 0.0263335 per share or RUB 11.2 billion in total;
  • AGM elected 13 members of the Board of Directors;
  • AGM elected 5 members to the Company’s Audit Commission;
  • AGM approved participation in Russia Global Compact Network;
  • AGM approved amendments to the Articles of Association and other internal documents.


***


The AGM approved the Company’s 2017 Annual Report and annual accounting (financial) statements. The report on sustainable development is included in 2017 Annual Report as well.


The AGM approved the following distribution of profit for 2017 (in RUB):


Retained profit for the reporting period

36,148,608,891.19

Reserve fund

1,807,430,444.56

Development of the Company

23,115,501 974.98

Dividends

11,225,676,471.65

The AGM resolved to pay dividends in the amount of RUB 0.0263335 per share (50% of the Group’s net profit for 2017 under IFRS) and recommended dividend record date – July 7, 2018.

***

The AGM elected 13 members to the Board of Directors[1]:

  • Yury Trutnev, Deputy Chairman of the Government of the Russian Federation — Plenipotentiary Representative of the President of the Russian Federation in the Far Eastern Federal District;
  • Artem Avetisyan, Director of New business division, Agency for Strategic Initiatives for New Projects Promotion;
  • Maxim Bystrov, Chairman of the Management Board, JSC ATS, NP Market Council;
  • Pavel Grachev, CEO, PJSC Polyus;
  • Sergei Ivanov, General Director, LLC RT Capital;
  • Vyacheslav Kravchenko, Deputy Minister of Energy of the Russian Federation;
  • Pavel Livinsky, General Director, PJSC Rosseti;
  • Vyacheslav Pivovarov, General Director, Altera Capital;
  • Mikhail Rastrigin, Deputy Minister of Economic Development of the Russian Federation;
  • Nikolay Rogalev, Chancellor, Moscow Power Engineering Institute, Federal Research University;
  • Sergey Shishin, Senior Vice-President, VTB Bank (PJSC);
  • Andrei Shishkin, Vice-President for Energy, Localization and Innovation, PJSC Rosneft Oil Company, Chairman of the Management Board, PJSOC Bashneft;
  • Nikolay Shulginov, Chairman of the Management Board — Director General of PJSC RusHydro.


***


The AGM elected the following candidates to the Company's Auditing committee[2]:

  • Natalia Annikova, First Deputy General Director, OJSC Construction Department №308;
  • Tatyana Zobkova, Department Division Head, Ministry of Energy of the Russian Federation;
  • Marina Kostina, Deputy Department Director, Ministry of Economic Development of the Russian Federation.
  • Igor Repin, Deputy Executive Director, Association of Institutional Investors;
  • Dmitry Simochkin, Deputy Head of Department, Federal Agency for State Property Management


***


The AGM approved the appointment of CJSC PriceWaterhouseCoopers as its auditor. PriceWaterhouseCoopers is one of the top four audit/consulting companies in Russia and worldwide. It has won the competitive tender to audit PJSC RusHydro in 2018-2020.


***


The AGM approved participation in Russia Global Compact Network.


The UN Global Compact is the UN’s largest initiative on corporate social responsibility and sustainable development. The organization’s mission is to facilitate mobilization of the global movement of sustainable companies. Participation in the Network will promote the main principles of UN Global Compact on environmental protection, human rights, anti-corruption and fair employment.


The Board of Directors recommended the AGM to approve participation in:


Self-regulatory corporation of Krasnoyarsk Region builders association;


Self-regulatory organization Association of energy facilities designers - ENERGOPROJECT;


Association for engineering surveying in construction industry.


Participation in self-regulatory organizations is mandatory requirement of the Urban Development Code of the Russian Federation for companies independently conducting design, engineering and construction.


***


The Board of Directors recommended AGM to terminate RusHydro’s participation in Non-Commercial Partnership Russian-Chinese Business Council.


***


The AGM approved new edition of the following internal documents of PJSC RusHydro:

  • Articles of Association;
  • Regulations on convening and holding general meetings of shareholders;
  • Regulations on convening and holding meetings of the Board of Directors;
  • Regulations of the Company’s Management Board.


***


The AGM resolved to pay remuneration to the members of the Board of Directors based on their performance for the period of June 26, 2017 – June 27, 2018 in the amount and under the procedure set in the Regulations on remuneration to members of the Board of Directors of RusHydro.


[1] Positions are indicated as of the date of nomination to the Board of Directors.

[2] Positions are indicated as of the date of nomination to the Board of Directors.


RusHydro sums up the results of the corporate year

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.
Your application has been accepted. The answer will be prepared and sent within 20 calendar days. ok