JSC RusHydro (ticker symbol: MICEX-RTS, LSE: HYDR; OTCQX: RSHYY) announces that the Company's Board of Directors held a meeting in absentia on August 16, 2013. *** The Board of Directors approved combining positions by members of RusHydro's management board in governance bodies of other organizations. *** The Board of Directors approved participation of RusHydro in CJSC Holding company BoGES and CJSC Holding company BoAZ through creation of these companies. The companies will be wholly-owned by RusHydro. The share capital of each company will amount to RUR 500,000; total number of shares to be placed is 500,000 with par value of RUR 1 per share. The share capital will be paid in cash. The creation of new RusHydro’s subsidiaries is aimed to execute the President’s decree to transfer the companies involved into implementation of BEMO project under jurisdiction of the Russian Federation. RusHydro and UC RUSAL currently own on an equal basis joint ventures registered in Cyprus: BALP Limited, a sole shareholder of CJSC BoAZ, and BOGES Limited, a sole shareholder of JSC Boguchanskaya HPP. *** The Board of Directors approved termination of RusHydro’s participation in RusSUNHydro Limited due to voluntary liquidation of the company and commissioned RusHydro’s representatives in the management bodies of RusSUNHydro Limited to vote for the decisions related to its liquidation. RusSUNHydro Limited was established in 2007 by HydroOGK and SUN Group in Nicosia, Cyprus, in order to control the construction and operate hydropower plants in India, Nepal and Bhutan. The company conducted feasibility studies on hydropower potential of India, Nepal and Bhutan with total installed capacity of 87 GW. Management of RusSUNHydro Limited considered potential investments in different projects in India, but the company did not participate in any of them, as these projects didn’t comply with its investment policy. At the moment the company stopped its operations. Shareholders preliminary decided to put the company into liquidation due to its economic inefficiency.
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