10.08.2012
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Results of the Board of Directors on August 10, 2012

JSC RusHydro (ticker symbol: MICEX-RTS, LSE: HYDR; OTCQX: RSHYY) announces the results of the Board of Directors held in absentia on August 10, 2012.

 

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The Board of Directors approved discontinuing of RusHydro's   membership in the following non-commercial partnerships: "Innovation in Electric Power Industry", "Russian-Chinese Business Council" and "Russian National Committee of the World Energy Council".

 

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The Board of Directors has approved Company's regulation on insider information in new edition. The amendments reflected requirements of the MICEX listing rules, requiring issuer's internal regulation to have explicit provision for disclosure of ownership of the issuer's securities by the top management.

 

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The Board of Directors has approved amendments to Provision on procurement of goods for needs of RusHydro.

 

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The Board of Directors has approved report on preliminary results of 2012 business-plan implementation as of the end of the first quarter of 2012 (including report on implementation of capex program, comprising report on implementation of generating facilities modernization program for the first quarter of 2012).

 

Actual generation and output by RusHydro's power plants for the 1st quarter of 2012 totaled 105.8% and106.7% of the planned volumes respectively. The slight increase above the plan was driven by favorable hydrological conditions and regimes allowed by the Federal water resources agency.

 

The financing of capex programme for the first quarter of 2012 totaled RUR  18.51 bln  or 100% of the plan for the quarter (19% from the capex plan for the whole year).

 

Actual financing of  rehabilitation and modernization projects (including projects of complex modernization) totaled  RUR 5.78 bln or 22% of the annual plan of RUR 26.13 bln.

 

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The Board of Directors approved combining positions by members of RusHydro's management board in management bodies of other organizations.

 

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The Board of Directors approved its own working plan for the second half of 2012.

 

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The Board of Directors approved early termination of powers of Boris Ayuyev as a member of Committee for reliability, energy efficiency and innovation. The early termination was initiated by Boris Ayuyev himself.  The Board of Directors has also elected Deputy director for innovative development of JSC SO UES Lyudmila Sergeeyeva as a member of Committee for reliability, energy efficiency and innovation.

 

 





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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