PJSC RusHydro: Results of the Board of Directors Meeting on April 04, 2022
PJSC RusHydro (HYDR)
Results of the Board of Directors Meeting on April 04, 2022
PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Company's Board of Directors held a meeting in absentia on April 04, 2022.
Resolutions passed on Items of the agenda:
Item 1. On the Matters Related to Convening, Preparing and Holding the Annual General Meeting of RusHydro Shareholders. Adopted Resolution:
To set the deadline for accepting voting ballots to be June 30, 2022.
Item 2. On Approval of the Company Internal Documents:
2.1 On approval of the restated Regulation on the Insider Information of RusHydro and the restated Policy of Holding Shares of Rushydro and Shares in Organizations Controlled by Rushydro by Members of the Board of Directors and Members of the Management Board.
Adopted resolution:
2.2.On amending the unified Regulation on the Procurement of Products for the Needs of RusHydro Group.
Adopted resolution:
2.3.On amendments to the Regulation on Remunerations and Compensations to Members of the RusHydro Management Board.
Adopted resolution: 1. To amend the Regulation on Remunerations and Compensations to Members of the RusHydro Management Board approved by the Board of Directors of the Company as of November 11, 2016 (Minutes No. 243 as of November 14, 2016), as amended on February 19, 2019 (Minutes No. 283 as of February 21, 2019) as per Schedule No. 3 to the Minutes. 2. To establish that the amendments specified in clause 1 of this resolution shall apply starting from the date of calculating the annual bonus for the Members of the Management Board of the Company on the basis of performance for 2022.
Item 3. On Consideration of Issues of Material Importance for the Company: 3.1.On approval of the Report on the organization of RusHydro insurance coverage in 2021.
Adopted resolution: To approve the Report on the organization of RusHydro insurance coverage in 2021 as per Schedule No. 4 to the Minutes.
3.2.On approval of the Report on the implementation of the RusHydro Annual Integrated Purchasing Program for 2021.
Adopted resolution: To approve the report on the implementation of the RusHydro Annual Integrated Purchasing Program for 2021 as per Schedule No. 5 to the Minutes.
3.3.On consideration of reports on major transactions performed by the Company's Subsidiaries.
Adopted resolution: To take in consideration as follows:
3.5.On consideration of results of field inspections by the Minenergo of Russia conducted in 2021, and the progress in eliminating violations as of December 31, 2021.
Adopted resolution: To take into consideration the results of field inspections by the Minenergo of Russia conducted in 2021, and information on the progress in eliminating violations as of December 31, 2021 as per Schedule No. 8 to the Minutes.
3.8.On cancellation of the Resolution of the Board of Directors of the Company as of February 11, 2020 (Minutes No. 304 as of February 12, 2020) on Item 3.7 "On the Analysis of the Existence or Absence of Major Investment Projects under Implementation or Planned to Be Implemented."
Adopted resolution: Due to the withdrawal by the Government of the Russian Federation of the instructions pursuant to which Directives No. 12119p-P13 of the Government of the Russian Federation as of December 25, 2019 were issued, the Resolution of the Board of Directors of the Company as of February 11, 2020 (Minutes No. 304 as of February 12, 2020) on Issue 3.7 "On the Analysis of the Existence or Absence of Major Investment Projects under Implementation or Planned to Be Implemented" shall be invalidated.
Item 4. On Approval of the Report on the Implementation of the Company's Business Plan for 2021, (including the Report on the Investment Program Implementation, the Complex Modernization Program for Generating Facilities for 2021 inter alia). Adopted resolution: To approve the report on the implementation of the Company's Business Plan for 2021, (including the report on the Investment Program Implementation, the Complex Modernization Program for Generating Facilities for 2021 inter alia) as per Schedule No. 9 to the Minutes.
Item 5. On Approval of the Report on the Implementation of the Consolidated Business Plan of RusHydro Group for 2021 (including the consolidated Investment Program and the Cost Optimization Plan on the basis of the conducted external independent audit of RusHydro costs including subsidiaries). Adopted resolution: To approve the report on the implementation of the Consolidated Business Plan of RusHydro Group for 2021 (including the consolidated Investment Program and the Cost Optimization Plan on the basis of the conducted external independent audit of RusHydro costs including subsidiaries) (as per Schedule No. 10 to the Minutes).
Item 6. On Approval of the Report on Reaching Key Performance Indicators by the Company (Members of the Management Board). 6.1. On Approval of the Report on Reaching Key Performance Indicators by the Company (Members of the Management Board). Adopted resolution: To approve:
Item 7. On the Draft Consolidated Investment Program of RusHydro Group for 2023 - 2027 and for 2022 (Adjustment), and on the Draft Investment Program of RusHydro for 2023 - 2032 and for 2022 (Adjustment). Adopted resolution: 1. To take into account the draft consolidated Investment Program of RusHydro Group for 2023-2027 and for 2022 (adjustment) (Appendices Nos. 13.1a, 13.1b, 13.1c, 13.2a, 13.2b, 13.2c, 13.3a, 13.3b, 13.3c and 13.4 to the Minutes) and the sources of their financing (Appendices Nos. 13.5a, 13.5b и 13.5c to the Minutes).
Item 8. On Approval of the Report on Conducting the Public Technological and Price Audit of Investment Projects for 2021, Containing Results of the Consolidated Analysis of the Audits and Conclusions Based on the Results of Public and Expert Discussions. Adopted resolution: To approve the report on conducting the public technological and price audit of investment projects of the Company for 2021, containing results of the consolidated analysis of the audits and conclusions based on the results of public and expert discussions (as per Schedules Nos. 14.1 and 15.2 to the Minutes).
Item 9. On Approval of the List of RusHydro Investment Projects for Conducting a Public Technological and Price Audit in 2022-2023. Adopted resolution: To approve the list of investment projects under implementation and planned to be implemented under RusHydro Investment Program for conducting a public technological and price audit in 2022-2023 as per Schedule No. 16 to the Minutes.
About RusHydro
RusHydro is Russia's largest power company by installed capacity. It is the country's largest hydrogenerating company and the third in the world with over 400 generating facilities. RusHydro Group is the leading producer of renewable energy in Russia with total electricity generation capacity of 38.2 GW.
For more information: Investor Relations Department Tel. +7 (495) 122 0555 ext. 1304
The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of RusHydro. You 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, rapid technological and market change in our industries, as well as many other risks specifically related to RusHydro and its operations.
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ISIN: | US7821834048, RU000A0JPKH7 |
Category Code: | MSCM |
TIDM: | HYDR |
LEI Code: | 2534005TJN9DX4YWVT97 |
OAM Categories: | 2.2. Inside information |
Sequence No.: | 153851 |
EQS News ID: | 1321109 |
End of Announcement | EQS News Service |
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