RSHYY RusHydro PJSC (PK)

Results of the Board of Directors on February 5, 2013

JSC RusHydro announces that the Company's Board of Directors held a meeting in absentia on February 5, 2013, to call the Extraordinary General Meeting of Shareholders (EGM).

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The Board of Directors resolved to convene the EGM on April 19, 2013 at the following address: Russia, Krasnoyarsky Kray, Krasnoyarsk, Dubrovinskogo st., 43.

The EGM will start at 12.00 (local time), the registration for participants will start at 10.00 (local time).

The record date for EGM participation is March 5, 2013.

The shareholders can review the documents within 30 days prior to the EGM at the following locations:

-       Moscow, 7 Malaya Dmitrovka Street (on working days from 10:00 a.m. to 6:00 p.m., Moscow time); telephone: +7 (495) 225-3232, ext. 1150; 1199;

-       Moscow, 18/13 Stromynka Street; JSC R.O.S.T., Company's registrar (on working days from 10:00 a.m. to 6:00 p.m., Moscow time); telephone: +7 (495) 771-7336;

-       Krasnoyarsk, 51 Respubliki Street (on working days from 10:00 a.m. to 6:00 p.m., local time); telephone: +7 (923) 337-5940, +7 (913) 031-7104;

The information will be also available on the Company's web site at: eng.rushydro.ru.

The Board of Directors appointed Maxim Zavalko, Head of Corporate Governance department, a Secretary of the meeting.

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The Board of Directors approved the agenda for EGM:

1.     On early resignation of members of the Board of Directors.

2.     Election of members of the Board of Directors.

3.     Approval of the agreement on liability, Directors’, Officers’ and Company’s financial lines insurance between RusHydro and Ingosstrah, qualified as interested-party transaction.

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Evgeny Gorev, Member of RusHydro’s Management Board, mentioned: “The purpose of convening the EGM and considering the election of a new Board of Directors of RusHydro is connected with the resignation of several members of the Board of Directors. Due to this resignation the Board of Directors is unable to fulfill its functions, stated in the Company’s Articles of Association and Federal law on joint stock companies. In December 2012, several transactions, including the agreement with VTB Bank, FSK EES and National research university "Moscow Power Engineering Institute", were not approved due to insufficient number of independent directors participated in the Board meetings.”

 

 

 

 

For more information:

JSC RusHydro, Investor Relations Department

Tel. +7 (495) 225-3232 ext. 1319, 1394, 1607

ir@rushydro.ru

 

DISCLAIMER

The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of RusHydro. One 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 and rapid technological and market changes in our industries, as well as many other risks specifically related to RusHydro and its operations.