12 May 2010

Results of the Company’s Board of Directors session

Ekaterinburg (Ural Federal District, Russia) - ОАО "IDGC of Urals" (RTS and MICEX: MRKU) reports on the results of BoD session.

May 07, 2010 saw an extramural BoD meeting which reviewed a range of managing and corporate issues.

Determination of the Company representatives' positions on agenda issues of AGM and BoD sessions of the SACs

The Company's BoD entrusted its representatives to vote "FOR" on agendas of BoD sessions and AGM while taking the following decisions:

ОАО "Ekaterinburg Electric Grid Company":

- Approval of underwriters;

- Approval and distribution of profit (losses) as of 2009 financial year.

ОАО "Ekaterinburgenergosbyt":

- Approval of 2010 Insurance Coverage Program;

- Approval of a CEO's report on 1Q 2010 insurance coverage;

- Approval and distribution of profit (losses) as of 2009 financial year.

ОАО "Kurganenergo":

- Approval and distribution of profit (losses) as of 2009 financial year.

ZAO "Insurance Company "Privat-Energostrakh":

- Approval and distribution of profit (losses) as of 2009 financial year.

ООО "Security Service "Permenergo":

- Approval of AGM agenda;

- Approval and distribution of profit (losses) as of 2009 financial year.

- Review of a report on 4Q 2009 insurance coverage;

- BoD election.

ОАО "Permelektrosetremont":

- Approval of AGM agenda;

- Approval and distribution of profit (losses) as of 2009 financial year.

- BoD election.

ОАО "Sverdlovenergozhylstroy":

- Approval of AGM agenda;

- Approval and distribution of profit (losses) as of 2009 financial year.

- BoD election.

ОАО "Permenergotrans":

- Approval of AGM agenda;

- Approval and distribution of profit (losses) as of 2009 financial year.

- BoD election.

For the full version of the BoD protocol, please, visit Section "Corporate Governance". ­­

Download IR release (pdf, 103 kb) 

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ОАО "IDGC of Urals"(est. in February 2005) is the main service provider responsible for energy transportation and technological connection of consumers to electric networks in Sverdlovsk, Chelyabinsk and Perm regions.

Electric network reform process in the Urals came to an end in April, 2008, and since May 1, 2008 ОАО "IDGC of Urals" is a united operating company exercising control over 3 regional subsidiaries (Sverdlovenergo, Chelyabenergo and Permenergo) as well as 3 core-asset affiliated companies (ОАО "Ekaterinburg Electric Grid Company", ОАО "Ekaterinburgenergosbyt").

As of 2009 the revenues from services totaled RUR 41.3 bln., net profit reached RUR 1.1 bln (under RAS). Overall energy supply in 2009 amounted to 75.8 bln. kWh, productive supply totaled 69.3 bln. kWh, energy losses reached 6.5 bln. kWh.

Common shares are traded on MICEX (Quotation list "B") and in RTS (Stock admitted for trading without listing). Free float is about 20%. In December, 2009 Consortium "RID-Expert RA" assigned us Corporate Governance rating at level "6+".

For additional information on the Company, please, visit our corporate web-site at www.mrsk-ural.ru, as well as Complex Information Disclosure System (www.skin.ru), Interfax (www.interfax.ru), AKM (www.akm.ru).  

IR Department

Tel./ Fax: (343) 215 26 58/ 215 25 84