The annual General Meeting of Shareholders elected a newly composed Board of Directors of the Company and approved of KPMG, CJSC as Auditor
On June 21, 2012, at the annual General Meeting, the shareholders of IDGC of the North-West, JSC took the decision to allocate 95 per cent of the profit gained in 2011 for electrical grid development.
On approved of allocation of the Company profit and loss following the results of 2011 financial year as follows:
|
Index name |
(thousand RUR) |
|
Unallocated profit (loss) in the reporting period: |
407,651 |
|
To allocate to: Reserve Fund |
20,383 |
|
Profit for development |
387,268 |
|
Dividend |
- |
|
Coverage of losses from previous years |
- |
The shareholders took the decision not to pay dividend on ordinary shares for 2011. Previously the decision was recommended by the Board of Directors of the Company in connection with the fact that all the profit was gained through technological connection and has a target purpose consisting in investment activities.
A new Board of Directors of the Company was elected, composed as follows (information on the positions occupied is indicated as of the date of the shareholders' submitting proposal to nominate the candidacies for membership in the Board of Directors of IDGC of the North-West, JSC).
|
1 |
Demidov, Aleksey Vladimirovich |
Member of the Management Board, First Deputy General Director of IDGC Holding, JSC |
|
2 |
Korshunov, Aleksey Vladimirovich |
Chief Expert Specialist of the Technical Documentation and New Technologies Unit of the Department for Operational Control and Management in Power Industry and Mobility Preparation within the Fuel & Energy Complex of the Russian Federation Ministry of Energy |
|
3 |
Murov, Andrey Yevgenyevich |
Deputy General Director of IDGC Holding, JSC |
|
4 |
Popov, Aleksandr Albertovich |
Deputy General Director – Chief of Staff of IDGC Holding, JSC |
|
5 |
Shevchenko, Taras Vyacheslavovich |
Director for Procurements (Head of the Procurement Activities Department) of IDGC Holding, JSC |
|
6 |
Kurochkin, Aleksey Valeryevich |
Director for Corporate Policy of IDGC Holding, JSC |
|
7 |
Pyatigor, Aleksandr Mikhaylovich |
Head of the Prospective Development and Technological Connection Department of IDGC Holding, JSC |
|
8 |
Dronova, Tatyana Petrovna |
Deputy General Director for Strategy and Development of Investment Holding “E-Union”, CJSC |
|
9 |
Såppo Yuha Remes |
General Director of Kiuru, LLC |
|
10 |
Katina, Anna Yuryevna |
Head of the Unit for Corporate Governance Analysis and Control of the Department for Corporate Governance and Interaction with Shareholders of IDGC Holding, JSC |
|
11 |
Filkin, Roman Alekseyevich |
Co-Director for Power Industry and Machine Building of Prosperity Capital Management (RF) Ltd. representative office |
KPMG, CJSC was approved of as Auditor of IDGC of the North-West, JSC.
“In 2011, our objective consisted in maximally complete execution of the investment program under the conditions of tariff limitation by decision of the government of the Russian Federation and provision for break-even operation of the Company. We have managed to do it. The amount of CAPEX last year made 5.2 bln RUR which is nearly 2 times in excess of the previous two years’ performance,” noted General Director of IDGC of the North-West Aleksandr Kukhmay summing up the year results.
According to Aleksandr Kukhmay, the priority objectives for 2012 remain to be consolidation of financial stability, attainment of planned profit, information openness, business processes accuracy and alignment, energy efficiency and energy saving enhancement, improvement of the quality of services provided by the Company and, most important, uninterrupted, reliable and high-quality consumer electric power supply.
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