DJ PJSC RusHydro: Results of the Board of Directors Meeting on December 03, 2019
PJSC RusHydro (HYDR)
PJSC RusHydro: Results of the Board of Directors Meeting on December 03,
2019
05-Dec-2019 / 07:43 CET/CEST
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Results of the Board of Directors Meeting on December 03, 2019
PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that
the Company's Board of Directors held a meeting in absentia on December 03,
2019.
Resolutions passed on Items of the agenda:
Item 1. On Consideration of the Report on Compliance with the Company's
Information Policy.
The resolution adopted:
To take into consideration the Report on Compliance with RusHydro's
Information Policy (Schedule No. 1 to the Minutes).
Item 2. On approval of the report on the execution of the Annual Complex
Procurement Program of the Company for 9 months of 2019.
The resolution adopted:
To approve the report on the execution of the RusHydro Annual Complex
Procurement Program for 9 months of 2019 (Schedule No. 2 to the Minutes).
Item 3. On the consideration of matters of significance to the Company:
3.1. On annual notification of industry-related federal executive bodies and
the Government of the Russian Federation on the volumes of contracts
concluded with defense industry enterprises for the procurement of civil
products for the fuel and energy industry (performance of work, provision of
services) which are not related to a state defense order.
The resolution adopted:
1. To note the publication by the Company:
· of all procurement information of RusHydro Group on the official website
of the Unified Procurement Information System, including the goods, works
and services procurement plan and up-to-date official publications on
procurements, containing, inter alia, notices of procurement, procurement
documentation, draft contracts, and information on all contracts concluded
by RusHydro Group with all counterparties (this information is publicly
available at http://zakupki.gov.ru [1]);
· on the official website of the State Industrial Information System of
information on the current and prospective needs of RusHydro Group for the
implementation of production programs, which is available for the
manufacturers of the defense industry for submission of their commercial
proposals and further participation in tender procedures (this information
is publicly available at https://gisp.gov.ru).
2. The Company shall ensure timely annual notification of industry-related
federal executive bodies (the Ministry of Industry and Trade of Russia, the
Ministry of Energy of Russia, and the Ministry of Economic Development of
Russia) and the Government of the Russian Federation on the volumes of
contracts concluded by the Company and its subsidiaries with defense
industry enterprises for the procurement of civil products for the fuel and
energy industry (performance of works, provision of services) which are not
related to a state defense order not later than 30 days before the date of
the annual General Meeting of Shareholders of the Company, after the
industry-related federal executive bodies (the Ministry of Industry and
Trade of Russia and/or the Federal Agency for State Property Management)
submit information to the Company about the organizations included in the
register of defense industry organizations in accordance with Decree of the
Government of the Russian Federation No. 96 dated February 20, 2004 "On the
Consolidated Register of Defense Industry Organizations."
3.2. On approval of a new revision of the Unified Regulation on the
Procurement of Products for the Needs of RusHydro Group.
The resolution adopted:
1. To approve a new revision of the Unified Regulation on the Procurement of
Products for the Needs of RusHydro Group (Schedule No. 3 to the Minutes).
2. As soon as the Unified Regulation on the Procurement of Products for the
Needs of RusHydro Group comes into force, to deem the Unified Regulation on
the Procurement of Products for the Needs of RusHydro Group approved by
Decision of the Board of Directors of RusHydro (Minutes No. 277 dated
October 4, 2018, with amendments approved by Minutes of the meeting of the
Board of Directors of RusHydro No. 292 dated June 24, 2019, No. 265 dated
February 06, 2018 ) to have lost force.
3.3. On consideration of the report on the progress of the Action Plan (the
list of measures) for the implementation of professional standards in the
Company's operations.
The resolution adopted:
To approve the report on the progress of the Action Plan (the list of
measures) for the implementation of professional standards in the Company's
operations in Q2 and Q3 2019 (Schedule No. 4 to the Minutes).
3.4. On consideration of the audit findings of the Ministry of Energy of
Russia and the progress on the elimination of violations discovered.
The resolution adopted:
To take under advisement the results of the field audits conducted by the
Ministry of Energy of Russia in 2019 and information on the progress on the
elimination of violations as of September 30, 2019 (Schedule No. 5 to the
Minutes).
3.5. Procurement of Russian products used for the implementation of national
projects and the complex plan for modernization and expansion of trunk
infrastructure.
The resolution adopted:
1. To take note of the following:
· Clause 5.17 of the Unified Regulation on the Procurement of Products for
the Needs of RusHydro Group, approved by the Company's Board of Directors
(Minutes No. 277 dated October 4, 2018, with amendments approved by
Minutes No. 292 dated June 24, 2019, hereinafter referred to as the
"URPP"), provides for the priority of procured products (goods, work,
services) of Russian origin over procured products of foreign origin*;
· this clause of the URPP covers, inter alia, the procurement of Russian
products used for the implementation of national projects and the complex
plan for modernization and expansion of trunk infrastructure.
2. To establish that no additional amendments need be introduced to the URPP
and other local regulations (acts) of the Company in the field of
procurement activities to establish the priority of the procurement of
Russian products used for the implementation of national projects and the
complex plan for modernization and expansion of trunk infrastructure.
*In accordance with Decree of the Government of the Russian Federation No.
925 dated September 16, 2016 «On the Priority of Goods of Russian Origin and
Work Performed and Services Provided by Russian Persons as Compared to Goods
of Foreign Origin or Work Performed and Services Provided by Foreign
Persons».
Item 3.6. Approval of the report on the interim results of accomplishment of
the Company's Business Plan for 2019 considering the actual results for 9
months of 2019 (including the report on execution of the Investment Program,
including the Complex Modernization Program for Generating Facilities, for 9
months of 2019).
The resolution adopted:
To approve the report on the interim results of accomplishment of the
Company's Business Plan for 2019 considering the actual results for 9 months
of 2019 (including the report on execution of the Investment Program,
including the Complex Modernization Program for Generating Facilities, for 9
months of 2019) (Schedule No. 6 to the Minutes).
About RusHydro
RusHydro Group is the leading producer of renewable energy in Russia. It is
Russia's largest generating company and is the fourth in the world with over
400 generating facilities in Russia and Armenia. The Group's total
electricity generation capacity including Boguchanskaya HPP is 39.7 GW.
Russian Federation owns 61.20% in RusHydro, the rest is held by other
institutional and individual shareholders (over 360,000). The company's
stock is traded on the Moscow Stock Exchange. Company's GDRs in the IOB
section of LSE, ADRs - in OTCQX.
For more information:
Investor Relations Department
Tel. +7 (495) 122 0555 ext. 1607, 1319, 1304
ir@rushydro.ru
The information in this press release may contain projections or other
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December 05, 2019 01:43 ET (06:43 GMT)
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.
ISIN: US7821834048, RU000A0JPKH7
Category Code: MSCM
TIDM: HYDR
LEI Code: 2534005TJN9DX4YWVT97
OAM Categories: 2.2. Inside information
Sequence No.: 33485
EQS News ID: 928839
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