April 5, 2018. Moscow, Russia. PJSC
RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces
that the Company's Board of Directors held a meeting in absentia on
April 2, 2018.
The Board of Directors took note on the report on
consolidated investment program for 2019 – 2023 and an update on
investment program for 2018 as well as its sources of financing.
The draft investment program for 2018-2023
includes commissioning of more than 1.5GW of new electric capacity
and over 1,000 GCal thermal capacity, construction and modernization
of over 200 km of heat lines and close to 8,500 km of electric grids.
Total size of the investment program including priority projects in
the Far East is over RUB 443 bn. The Group’s investment program is
sustainable with guaranteed sources of funding.
During the period of 2018 – 2023 RusHydro Group
plans to commission the following facilities: first phase of Sakhalin
GRES-2, third hydropower unit of Ust-Srednekanskaya HPP,
Nizhne-Bureyskaya HPP, Zaramagskaya HPP-1, CHPP Vostochnaya, CHPP in
Sovetskaya Gavan’, construction of first phase of two
single-circuit 110 KW power lines Pevek-Bilibino and others.
The Board of Directors accepted proposal submitted
by the shareholders of the Company on the list of candidates to the
Board of Directors to be voted at 2018 AGM. The list includes the
Artem Avetisyan, Director of New business
division, Agency for Strategic Initiatives for New Projects
Maxim Bystrov, Chairman of the Management
Board, JSC ATS, NP Market Council;
Voevodin Mikhail, Genral Director, PJSC
Pavel Grachev, CEO, PJSC Polyus;
Sergei Ivanov, General Director, LLC RT
Vyacheslav Kravchenko, Deputy Minister of
Energy of the Russian Federation;
Pavel Livinsky, General Director, PJSC
Vyacheslav Pivovarov, General Director,
Mikhail Rastrigin, Deputy Minister of
Economic Development of the Russian Federation;
Nikolay Rogalev, Chancellor, Moscow Power
Engineering Institute, Federal Research University;
Yury Trutnev, Deputy Chairman of the
Government of the Russian Federation — Plenipotentiary
Representative of the President of the Russian Federation in the Far
Eastern Federal District;
Alexei Chekunkov, General Director, JSC Far
East and Baikal Region Development Fund;
Sergey Shishin, Senior Vice-President, VTB
Andrei Shishkin, Vice-President for Energy,
Localization and Innovation, PJSC Rosneft Oil Company, Chairman of
the Management Board, PJSOC Bashneft;
Nikolay Shulginov, Chairman of the Management
Board — Director General of PJSC RusHydro.
The Board of Directors included the following
candidates to Audit Commission of the Company:
Natalia Annikova, First Deputy General
Director, OJSC Construction Department ¹308;
Tatyana Zobkova, Department Division Head,
Ministry of Energy of the Russian Federation;
Marina Kostina, Deputy Department Director,
Ministry of Economic Development of the Russian Federation.
Igor Repin, Deputy Executive Director,
Association of Institutional Investors;
Dmitry Simochkin, Deputy Head of Department,
Federal Agency for State Property Management
The Board of Directors approved the proposal on
the agenda for the AGM on results of 2017 submitted by the Federal
Agency for State Property Management, a Company shareholder holding
60.56% shares, representing the Russian Federation as shareholder.
The Agenda contains the following items:
Approval of the annual report;
Approval of accounting (financial) reports;
Approval of distribution of Company 2017
On dividends: volume, timeline and form of
payment, date of record for dividend payment eligibility based on
On compensation to Board of Directors
members, not employed by government agencies;
On reimbursement for participation in the
work of the Audit commission to members of the Commission, not
employed by government agencies;
Election of the Board of Directors;
Election of the Audit Commission;
Approval of the auditor.
The agenda and date of the AGM will be approved at
one of the upcoming Board of Directors meetings.
The Board of Directors approved termination of
PJSC RusHydro’s participation in MGES of Dagestan and authorized
its representatives in the Company’s Governance to liquidate MGES
Liquidation of MGES of Dagestan is planned as it
currently does not conduct business and operations. Amsarskaya,
Shinazskaya and Arakulskaya HPPs with a combined installed capacity
of 3.8 MW, formerly owned by MGES of Dagestan, were sold to PJSC
RusHydro in 2013.