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Decisions from a Regular Session of RusHydro’s Board of Directors

On July 1, 2009 a regular session of RusHydro’s Board of Directors took place by proxy voting.


The Board of Directors considered the issue "On the Procedure of the Placement of additional shares of the Company’s shares," and approved, in addition to offering shares to third parties through open subscription, the following procedure for the placement of additional shares (state registration number of the additional issue 1-01-55038-Е-037D as of May 14th, 2009):

  • Purchase of additionally placed RusHydro shares (from the shares remaining after shareholders’ utilization of their pre-emptive rights) by RusHydro’s 100%-owned subsidiary JSC "Gidroinvest" through open subscription.  
  • The funds, received from the placement of additional shares, will be used to finance the Company’s investment program.

RusHydro’s Board of Directors has also instructed representatives of the Company on the Board of Directors of JSC "Gidroinvest" to vote in favor of JSC "Gidroinvest’s" participation in RusHydro through the purchase of additional shares of the Company.

On May 14, 2009, Russia’s Federal Service for Financial Markets (FSFM) has registered the additional issue of common shares of JSC RusHydro, to be placed through open subscription. The size of the issue is 16,000,000,000 common shares with a par value of 1rouble.

The shares are to be paid for in cash.

The decision to increase RusHydro’s charter capital was adopted by an Extraordinary General Meeting (AGM) of the Company’s shareholders on November 17, 2008.

The price for the placement of additional shares (including to shareholders, entitled to pre-emptive rights) was determined by the Company’s Board of Directors on March 11, 2009 in accordance with "The Russian Federal Law on Joint-Stock Companies" as one ruble per share.

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