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Russian Grids JSC Holds Annual General Shareholder’s Meeting

Russian Grids JSC  Holds Annual General Shareholder’s Meeting 30.06.2014

The Russian Grids JSC annual general shareholder’s meeting was held on June 30 in Moscow. Shareholders approved the annual report and the company’s annual accounting statements, which includes the report on financial performance in 2013.

The Annual General Shareholder’s Meeting approved the distribution of profits (losses) and made the decision not to pay out dividends for regular and preferred company shares on the results of 2013 due to the company’s losses, which were the result of re-evaluating the shares of affiliates and subsidiaries which are on the company’s books. The meeting also decided not to pay bonuses to members of the Board of Directors for their work on the board.

The meeting approved a new edition of the Company Charter which was amended due to the recent changes in Russian legislation; amendments were also entered into the Charter due to the change in the company’s physical location and the English translation of the company’s name. Furthermore, the new edition of the Charter also includes a host of new company regulations: Regulations on the General Shareholder’s Meeting, on the Board of Directors, on the Management Board, on the Audit Committee, on the payment of Bonuses and Compensation to the Board of Directors and on the payment of Bonuses and Compensation to the company’s Audit Committee.

The Annual General Shareholder’s Meeting approved liability insurance contracts for company directors and executives until December 24, 2015, which are considered interested party transactions. Liability insurance for company directors and executives is widely used by the largest Russian and international companies.

Ernst & Young LLC was approved as the company’s auditor.

The following 15-member Board of Directors was chosen for Russian Grids JSC based on a vote by the company’s shareholders:

  1. Boris Ilyich Ayuyev, Chairman of the Management Board at System Operator of the Unified Power System OJSC 
  2. Oleg Gennadiyevich Barkin, Deputy Chairman of the Management Board at the Market Council Non-Commercial Partnership 
  3. Oleg Mikhailovich Budargin, General Director of the Russian Grids Joint-Stock Company 
  4. Anatoly Fedorovich Dyakov, President of the Scientific and Technical Council of the Unified Power System Non-Commercial Partnership 
  5. Andrei Yuriyevich Ivanov, Deputy Finance Minister of the Russian Federation 
  6. Aleksandr Sergeyevich Kalinin, First Vice President for Energy and Infrastructure at Opora Russia, a Russian national public organisation of small and medium businesses 
  7. Vyacheslav Mikhailovich Kravchenko, Deputy Minister of Energy of the Russian Federation
  8. Alexei Aleksandrovich Makarov, Member of the Russian Academy of Sciences 
  9. Sergei Nikolayevich Mironosetsky, Member of the Board of Directors at Siberian Generating Company LLC 
  10. Denis Stanislavovich Morozov, Russian Representative on the Board of Directors of the European Bank for Reconstruction and Development 
  11. Andrei Yevgenyevich Murov, Chairman of the Management Board at the Federal Grid Company of the Unified Energy System 
  12. Seppo Juha Remes, General Director of KIURU LLC  
  13. Pavel Olegovich Shatsky, First Deputy General Director of Gazprom Energoholding 
  14. Andrei Nikolayevich Shishkin, Vice President for Energy, Industrial Safety, Occupational Safety and the Environment at Rosneft 
  15. Sergei Ivanovich Shmatko, Member of the Commission under the President of the Russian Federation on the Development Strategy for the Fuel and Energy Industry and Environmental Safety
The company’s audit committee includes:

  1. Astkhik Artashesovna Bashindzhagyan, Consultant for a Department in the Russian Ministry of Energy 
  2. Denis Rishiyevich Kant Mandal, acting Chief of Department at the Federal Property Management Agency 
  3. Vladimir Yulianovich Skobarev, General Director of Moore Stephens Rus Ltd. 
  4. Alan Fedorovich Khadziyev, Chief of Department at the Russian Ministry of Energy 
  5. Vladimir Vasiliyevich Khvorov, Leading Expert at the Ministry of Economic Development of Russia

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