Results of the Board of Directors Meeting on September 20, 2019

 

PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Company's Board of Directors held a meeting on September 20, 2019.

 

Resolutions passed on Items of the agenda:

 

Item 1: On the interim results of the fulfillment of the Company's Business Plan for 2019 with regard to the actual results for H1 2019 (considering the report on the fulfillment of the Investment Program, including the Complex Modernization Program for Generating Facilities, for H1 2019).

The resolution adopted:

To confirm the interim results of the fulfillment of the Business Plan for 2019 with regard to the actual results of H1 2019 (considering the report on the fulfillment of the Investment Program, including the Complex Modernization Program for Generating Facilities, for H1 2019) (Appendix 1 to the Minutes).

 

Item 2: On the adjustment of the Company's business plan for 2019-2023 insofar as it relates to the Investment Program of PJSC RusHydro for 2019.

The resolution adopted:

To approve the adjustment of the Company's business plan for 2019 insofar as it relates to amending the parameters of the Investment Program of PJSC RusHydro for 2019, considering their influence on the KPI "Compliance with the capacity commissioning schedules and financing and utilization plan, %" for 2019 (Appendices 2 and 2a to the Minutes).

 

Item 3: On the adjustment of the consolidated Business Plan (including the consolidated Investment Program) of RusHydro Group for 2019.

The resolution adopted:

To approve the adjusted consolidated Business Plan (including the consolidated Investment Program) of RusHydro Group for 2019 (Appendix 3 to the Minutes).

 

Item 4: On the approval of the adjusted targets for annual KPIs of the Company's Management Board members for 2019.

The resolution adopted:

To approve the adjusted targets for KPIs of the Company's Management Board members for 2019 as follows: "ROE, %," "EBITDA, million rubles," "Workforce Productivity, thousand rubles/man-hours" (Appendix 4 to the Minutes).

 

Item 5: On considering matters of significance to the Company.

5.1. On the approval of the reports on the performance results of the Committees under the PJSC RusHydro Board of Directors for the corporate year 2018-2019.

 

The resolution adopted:

To consider the item at the next scheduled face-to-face meeting of the Board of Directors with the participation of the Chairmen of the Committees under the Board of Directors of the Company.

 

 

 

About RusHydro

RusHydro Group is the leading producer of renewable energy in Russia. It is Russia's largest generating company and is the fourth in the world with over 400 generating facilities in Russia and Armenia. The Group's total electricity generation capacity including Boguchanskaya HPP is 39.7 GW.

Russian Federation owns 61.20% in RusHydro, the rest is held by other institutional and individual shareholders (over 360,000). The company's stock is traded on the Moscow Stock Exchange. Company's GDRs in the IOB section of LSE, ADRs - in OTCQX.

 

 

For more information:

Investor Relations Department

Tel. +7 (495) 122 0555 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 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.