Results of the Board of Directors Meeting on April 19, 2019
PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Company's Board of Directors held a meeting on April 19, 2019.
Resolutions passed on Items of the agenda:
Item 1: Approval of the Regulation on the RusHydro Dividend Policy.
The resolution adopted:
- To approve the new version of the Regulation on the RusHydro Dividend Policy (Appendix 1 to the Minutes).
- To take into account the information related to the factors affecting the pricing of the stock of RusHydro PJSC, which were analyzed in accordance with the instruction by the Board of Directors (Minutes No.284 dated March 26, 2019), as well as the measures implemented, aimed at stock price growth.
Item 2: On the prolongation of the grace period on a loan of DGK JSC, provided as part of the implementation of a forward transaction with VTB Bank (PJSC).
The resolution adopted:
For the purpose of stabilizing the financial and economic position of DGK JSC, to approve the prolongation until March 27, 2021, (inclusive) of the grace period for the payment of accrued interest by DGK JSC determined under clause 1.2 of the resolution of the Board of Directors dated December 26, 2016 (Minutes No. 246 dated December 27, 2016).
Item 3: On the review of the results of the assessment of corporate management practice and the report on the results of the self-assessment of the Company Board of Directors.
The resolution adopted:
- To take into account the results of the assessment of the corporate management practice of the Company, performed by the Internal Audit Service of the Company, and the recommendations for improving corporate management (Appendix 2 to the Minutes).
- To take into account the results of the external assessment of corporate management and note the positive dynamics of the assessment of independent experts.
- To take into account the Report on the results of the self-assessment of the activities of the RusHydro PJSC Board of Directors and proposals to improve the work of the Board of Directors (Appendix 3 to the Minutes).
About RusHydro
RusHydro Group is one of Russia's largest generating companies. RusHydro is the leading producer of renewable energy in Russia with over 400 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 39.4 GW, heat capacity - 18.5 thousand GCal/h.
Russian Federation owns 60.56% in RusHydro, the rest is held by other institutional and individual shareholders (over 360,000). The company's stock is traded on Moscow Exchange (MOEX), 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
The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of PJSC "RusHydro" ("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.
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