Results of the Board of Directors Meeting on October 18, 2019

 

PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Company's Board of Directors held a meeting in absentia on October 18, 2019.

 

Resolutions passed on Items of the agenda:

Item 1. On approval of the Report on the implementation of the Action Plan for the sale of noncore assets of the Company for 9 months of 2019.

The resolution adopted:

To approve the Report on the implementation of the Action Plan
for the sale of noncore assets of RusHydro for 9 months of 2019 (Schedule 1 to the Minutes).

 

Item 2. On the consideration of matters of significance to the Company:

2.1. On progress in the implementation of RusHydro Group's Long-term Development Program in H1 2019.

The resolution adopted:

To take into account the information on the progress in the implementation of RusHydro Group's Long-Term Development Program in H1 2019 (Schedule 2 to the Minutes).

 

2.2. On amendments to RusHydro Group's Long-Term Development Program.

The resolution adopted:

To approve amendments to the list, target values, and methods of calculating and evaluating key performance indicators of RusHydro Group's Long-Term Development Program* in accordance with the adjustment by the Board of Directors of the Company of the list, target values, and methods of calculating and evaluating key performance indicators of members of the Management Board and the Long-term Motivation Program of the Company (Minutes of the Board of Directors of the Company No. 283 dated February 21, 2019, No. 295 dated September 23, 2019, No. 296 dated September 24, 2019) (Schedule 3 to the Minutes).

 

2.3. Confidential.

The resolution adopted: Confidential.

 

*The Long-term Development Program for the period 2018-2022, approved by Minutes of the Board of Directors of the Company No. 271 dated June 1, 2018, as amended by Minutes of the Board of Directors of the Company No. 279 dated October 26, 2018, and No. 294 dated August 29, 2019.

 

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.