PJSC RusHydro (HYDR)
Results of the Board of Directors Meeting on March 26, 2020
30-March-2020 / 08:46 CET/CEST
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according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
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Results of the Board of Directors Meeting on March 26, 2020
PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that
the Company's Board of Directors held a meeting in absentia on March 26,
2020.
Resolutions passed on Items of the agenda:
Item 1: On approval of the list of RusHydro investment projects for the
public technological and price audit in 2020-2021.
Resolution adopted:
To approve the list of RusHydro's investment projects which are implemented
or scheduled for implementation under the investment program of RusHydro for
the conduct of a public technology and pricing audit in 2020-2021 (Schedule
No. 1 to the Minutes).
Item 2: Approval of the report on the fulfillment of the Annual Complex
Procurement Program of RusHydro for 2019.
Resolution adopted:
To approve the report on the execution of the RusHydro Annual Complex
Procurement Program for 12 months of 2019 (Schedule No. 2 to the Minutes).
Item 3: Approval of the Report on the Organization of Insurance Coverage of
RusHydro in 2019.
Resolution adopted:
To approve the Report on Organization of Insurance Coverage of RusHydro in
2019 (Schedule No. 3 to the Minutes).
Item 4: On the consideration of matters of significance to the Company:
4.1. On the introduction of amendments to the Register of Non-Core Assets of
the Company.
Resolution adopted:
To introduce amendments to the Register of Non-Core Assets of the Company,
approved by the Resolution of the Board of Directors of the Company of
December 24, 2019 (Minutes No. 302 dated December 26, 2019) (Schedule No. 4
to the Minutes).
4.2. On the review of the results of field audits by Ministry of Energy of
the Russian Federation, conducted in 2019, and on the course of corrective
measures as of December 31, 2019.
Resolution adopted:
To take under advisement the results of the field inspections by Ministry of
Energy of the Russian Federation conducted in 2019 and information on the
course of the corrective measures as of December 31, 2019 (Schedule No. 5 to
the Minutes).
4.3. Confidential.
Resolution adopted: Confidential.
4.4. Confidential.
Resolution adopted: Confidential.
4.5. Confidential.
Resolution adopted: Confidential.
4.6. On consideration of the Draft Consolidated Investment Program of
RusHydro Group for 2021-2025 and for 2020 (adjustment) and the Draft
Investment Program of RusHydro for 2021-2030 and for 2020 (adjustment).
Resolution adopted:
1. To take into account the draft text of the Consolidated Investment
Program of RusHydro Group for 2021-2025 and for 2020 (adjustment) (Schedules
No. 9a, 9b, and 9c to the Minutes) and the sources of their financing
(Schedule No. 9d to the Minutes).
2) To pre-approve the Draft Consolidated Investment Program of RusHydro
for 2021-2030 and draft amendments to the Draft Investment Program of
RusHydro for 2020-2029, approved by Order of the Ministry of Energy of
Russia (Minenergo) No. 20@ dated December 9, 2019 (Schedules No. 10a, 10b,
10c and 10d to the Minutes), in order to ensure that information
disclosure is compliant with Decree of the Government of the Russian
Federation No. 24 dated January 21, 2004 "On Approval of Standards for
Information Disclosure by Wholesale and Retail Electricity Market
Participants."
3. To instruct Chairman of the Management Board and General Director N. G.
Shulginov to send the approved Draft Investment Program of RusHydro for
2021-2030 and the draft amendments to the Investment Program of RusHydro for
2020-2029, approved by Order of the Ministry of Energy (Minenergo) of Russia
No. 20@ dated December 9, 2019, in accordance with the procedure established
by Decree of the Government of the Russian Federation No. 977 dated December
1, 2009 "On Investment Programs of Electrical Energy Industry Participants"
("Decree No. 977").
4.7. On approval of a report on the public technology and price audit of
investment projects for 2018, which contains the results of a consolidated
analysis of the audits and conclusions based on the results of public and
expert discussion.
Resolution adopted:
To approve a report on the public technology and price audit of the
Company's investment projects for 2019, which contains the results of a
consolidated analysis of the audits and conclusions based on the results of
public and expert discussion (Schedules No. 11 and 12 to the Minutes).
Item 5: On approval of the report on related-party transactions made by
RusHydro in 2019.
Resolution adopted:
To approve the report on related-party transactions made by RusHydro in 2019
(Schedule No. 13 to the Minutes).
Item 6: On approval of positions concurrently held by a member of the
Management Board in management bodies of other organizations.
Resolution adopted:
To approve the concurrent membership of Sergey Anatolievich Kirov, member of
the Management Board and First Deputy General Director of the Company, in
the Supervisory Board of the Association Nonprofit Partnership Council for
Organizing an Efficient System of Trading on the Wholesale and Retail
Electricity and Capacity Market (Association NP Market Council).
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.: 55292
EQS News ID: 1010027
End of Announcement EQS News Service
(END) Dow Jones Newswires
March 30, 2020 02:46 ET (06:46 GMT)
