PJSC RusHydro (HYDR)
PJSC RusHydro: Results of the Board of Directors Meeting on December 24,
2019
27-Dec-2019 / 07:26 CET/CEST
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
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announcement.
Results of the Board of Directors Meeting on December 24, 2019
PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that
the Company's Board of Directors held a meeting on December 24, 2019.
Resolutions passed on Items of the agenda:
Item 1: On approval of the Company's Business Plan (including the Investment
Program) for 2020-2024.
Resolution adopted:
1. To approve the RusHydro Business Plan for 2020 (Schedule No. 1 to the
Minutes).
2. To approve the RusHydro Investment Program for 2020 (Schedule No. 2 to
the RusHydro Business Plan for 2020-2024).
3. To approve the planning data for RusHydro's investment projects and for
new construction facilities of controlled companies that are taken into
account in calculating the performance indicator of RusHydro Management
Board members "Compliance with the Capacity Commissioning Schedule and the
Financing and Utilization Plan, %" for 2020 (Schedule No. 2a to the RusHydro
Business Plan for 2020-2024).
4. To take into consideration the RusHydro Business Plan for 2021-2024
(Schedule No. 1 to the Minutes), including the RusHydro Investment Program
for 2021-2024 (Schedule No. 2 to the RusHydro Business Plan for 2020-2024).
Item 2: On approval of the consolidated Business Plan (including the
consolidated Investment Program) of RusHydro Group for 2020-2024.
Resolution adopted:
To approve the consolidated Business Plan (including the consolidated
Investment Program) of RusHydro Group for 2020-2024 (Schedule No. 2 to the
Minutes).
Item 3: On approval of the list and the target values of annual key
performance indicators of RusHydro Management Board members for 2020.
Resolution adopted:
1. To approve and put into effect from January 1, 2020:
1.1. A new revision of the Regulation on the System of Key Performance
Indicators of RusHydro (hereinafter, the "Regulation"), as per Schedule No.
3 to the Minutes.
2) The list of annual key performance indicators of RusHydro Management
Board members for 2020 as per Schedule No. 4 to the Minutes.
3) The target values of the annual key performance indicators of RusHydro
Management Board members for 2020 as per Schedule No. 5 to the Minutes.
4) The new revision of the methodology for calculating and evaluating the
annual key performance indicators of RusHydro Management Board members as
per Schedule No. 6 to the Minutes.
2) To approve:
2.1. The target values of KPIs under RusHydro's Cycle 4 Long-Term Motivation
Program for 2020-2022 as per Schedule No. 7 to the Minutes.
2.2. Changes to the target values of KPIs under RusHydro's Cycle 2 Long-Term
Motivation Program for 2018-2020 as per Schedule No. 8 to the Minutes.
2.3. Changes to the target values of KPIs under RusHydro's Cycle 3 Long-Term
Motivation Program for 2019-2021 as per Schedule No. 9 to the Minutes.
2.4. Changes to the Methodology for Calculating and Evaluating KPIs under
the RusHydro Long-Term Motivation Program approved by decision of the
Company's Board of Directors on December 26, 2017 (Minutes No. 264 dated
December 28, 2017), as amended on February 19, 2019 (Minutes No. 283 dated
February 21, 2019), with respect to calculation of the KPI "Total
shareholder return (TSR), %", as per Schedule No. 10 to the Minutes.
3. To calculate the KPIs under the Cycle 2 Long-Term Motivation Program for
2018-2020 and the Cycle 3 Long-Term Motivation Program for 2019-2021 in
accordance with the Methodology for Calculating and Evaluating Key
Performance Indicators under the RusHydro Long-Term Motivation Program
approved by decision of the Company's Board of Directors dated December 26,
2017 (Minutes No. 264 dated December 28, 2017), including amendments
thereto, including those stipulated by Clause 2.4 hereof.
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
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.: 37546
EQS News ID: 943807
End of Announcement EQS News Service
(END) Dow Jones Newswires
December 27, 2019 01:26 ET (06:26 GMT)
