The outgoing year has been difficult for IDGC of Centre, as well as for the entire industry. Despite this, in 2014 we continued productive, open and constructive interaction with shareholders and investors.

In the departing year we have maintained a regular dialogue with institutional investors and analysts, using a variety of formats of communication from personal meetings to attending an international conference. In 2014 the Company held the first webcast on the results of 2013, which combined both a conference call and an online presentation. The new format allowed to attract both the investment community and participants from the media. The event involved considerable attention and became a useful tool for further building relationships with shareholders and investors.

IR Division continued working at maintaining IDGC of Centre’s securities in the highest quotation list of the Moscow Exchange: with the entry into force of the new Listing Rules of CJSC "MICEX Stock Exchange" June 9, 2014 IDGC of Centre’s shares were included in the first (highest) level of the List of securities. Following the results of 9 months of 2014 IDGC of Centre took the 2nd place on the volume of trading in rubles on the Moscow Exchange (the main market) among interregional distribution grid companies. This event was the result of consistent work to improve the liquidity of the Company's shares, including by attracting a market-maker.

An annual priority project in the work with shareholders is preparation and holding of the Annual General Meeting of Shareholders. In 2014 the meeting was held on 26 June 2014 chaired by General Director Oleg Y. Isaev. The meeting was attended by more than 90% of persons entitled to participate (87% in 2013). IDGC of Centre’s shareholders during the annual meeting participated in the discussion and voting on eight agenda items, including they approved a new Board of Directors consisting of 11 persons. General Director of the Company, with the support of minority shareholders, scored the maximum number of votes among nominees. This was an indication that the shareholders approved the Company's policy and result of hard work with shareholders in the run-up to the AGM. The meeting also approved dividends on the results of 2013, which amounted to 75,992 thousand RUB or 25.94% of net profit under RAS.

In 2014 we continued working to increase IDGC of Centre’s transparency. One of the quickest channels of communication with shareholders and investors is still a dedicated section of the website "Investors and Shareholders". Data available on the website provide not only operational, but also the most complete and accurate information on IDGC of Centre’s corporate events. The section visits compared with the previous year increased by 20%.

IR Division actively worked in the social media to disseminate the latest information about the Company and increase its audience. For 2014 a significant growth of interest in our activities was recorded in such resources as LinkedIn, Twitter and Slideshare.

In August this year experts of the Russian Institute of Directors confirmed the corporate governance rating of IDGC of Centre at NCGR 7+ - "Developed practice of corporate governance". In comments to the rating they noted continuous improvement of the corporate website of the Company in terms of volume of information disclosed and the convenience of its search for persons concerned.

In November 2014 the rating agency "Expert RA" recognized the Annual Report of IDGC of Centre for 2013 the best in terms of disclosure of corporate governance practices. For more information openness the report was posted on the electronic information exchanges Bloomberg, Euroland.com and Finam.ru, which helped to attract additional investors’ interest.

In November and December 2014 a perception study was conducted on the results of the activity of IR Division. The total aggregate score, which those surveyed rated IDGC of Centre’s IR Division, was 9,02 out of 10, which is higher than the previous year (8,45 out of 10).

At the end of the year Russian Regional Network for Integrated Reporting summed up the annual survey of corporate transparency of the largest Russian companies. IDGC of Centre joined the group of leaders (totally 68 companies), taking the 39th place in the final ranking. Total in 2014 the study analyzed reporting of 721 companies.

In 2015 we plan to further develop channels of communication with shareholders and investors, adhere to the highest standards of corporate governance, transparency and effective interaction with the investment community and shareholders.

More information about the interaction of IDGC of Centre with investors and shareholders can be found on the website under “Investors and Shareholders”.