Results of the Board of Directors meeting on October 18, 2019
October 22, 2019. 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 October 18, 2019.
The Board of Directors took into consideration information on RusHydro Group’s Long-term Development Program for the first half of 2019.
RusHydro follows the key goals outlined in the Program. In the reporting period, RusHydro continued execution of its key investment projects. By the end of the first half of the year, Votkinskaya, Zhigulevskaya and Novosibirskaya HPPs’ installed capacity increased by 30.5 MW combined following comprehensive modernization.
The company continued carrying out activities aimed at improving its corporate governance. In the current year, RusHydro took the first place in corporate transparency rating carried out by Russian Regional Network on Integrated Reporting with support from International Integrated Reporting Council.
The company confirmed its high profit in the field of corporate sustainability and was among the leaders in the index Responsibility and Transparency and Vector of Sustainable Development by Russian Union of Industrialists and Entrepreneurs in 2018.
The Board of Directors approved the report on divestment of PJSC RusHydro’s none-core assets for 9 months of 2019. RusHydro had divested 14 assets. The company strives to effectively manage its assets and conforms with the orders and decrees of the government of the Russian Federation regarding optimization of non-core assets.
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 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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