30 Apr 2015 15:13
April 30, 2015
Results of the Board of Directors on April 29, 2015
JSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Company's Board of Directors held a meeting on April 29, 2015.
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The Board of Directors approved the Company's business plan for 2015, including the investment program, annual and quarterly KPIs as well as quarterly funding plans and implementation of capital investments for 2015.
The Board of Directors commissioned Evgeny Dod, Chairman of the Management Board - General Director of RusHydro, to consider till June 30, 2015, the guidelines of the government's decree No. 2303p-P13 of 16.04.2015, "On reduction of operating expenses by not less than 2-3 percent annually" while reviewing the KPIs of the long-term development program and/or amendments to long-term development program of the Company by the Board of Directors.
The Board of Directors approved the Company's business plan for 2016-2019, including the investment program.
After approval of the amendments to the investment program of RusHydro for 2015 and the investment program of RusHydro for 2016-2019 by the Ministry of Energy of Russia to commission Evgeny Dod, Chairman of the Management Board - General Director of RusHydro, to include the relevant amendments to the Company's business plan for 2015-2019 and submit these amendments for the Board of Directors' approval, in case of deviation of parameters of the investment programs.
About RusHydro
RusHydro Group is one of Russia's largest generating companies. RusHydro is the leading producer of renewable energy in Russia with over 70 generating facilities in Russia and abroad. The company also manages a number of R&D, engineering and electricity retail companies. Group's thermal assets are operated by subsidiary - RAO Energy System of East in the Far East of Russia. Total electricity generation capacity of the Group is 37.5 GW, heat capacity - 16.2 thousand GCal/h.
Russian Federation owns 66.8% in RusHydro, the rest is held by other institutional and individual shareholders (over 360,000). The company's stock is traded on the MICEX and RTS stock exchanges, and included in MSCI EM и MSCI Russia indexes. Company's GDRs in the IOB section of LSE, ADRs - in OTCQX.
For more information:
Investor Relations Department
Tel. +7 (800) 333 8000 ext. 1607, 1319, 1304
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," "plan", "aim", "target", "forecast", "project", "should", "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 and political 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.