02 February 2012

Resolutions of the Company’s BoD session

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

January 27, 2012 saw an in-absentia BoD session that decided over a range of managing and corporate issues, including:

Introduction of alterations to the KPI system for senior managers

The Board of Directors approved the methodology for calculation and evaluation of KPI "Decrease of purchase costs per 1 production unit by no less than 10% per year during 3 years in real terms at 2010 prices" and entrusted the CEO to introduce alterations to the KPI system for senior managers.

Introduction of the KPI will enable to control the decrease of purchase costs and will be the kernel of the system for financial stimulation of senior managers.

Approval of BoD Committee budgets for 1H 2012.

The BoD approved Committee budgets for 1-2Q 2012. According to the approved budgets, approx. 20 Committee sessions are planned for arrangement during 1H 2012.

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

Download IR release (pdf, 62 kb) 

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ОАО "IDGC of Urals"(est. in February 2005) is grids company responsible for energy transmission 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 branches (Sverdlovenergo, Chelyabenergo and Permenergo) as well as 2 core-asset affiliated companies (ОАО "Ekaterinburg Electric Grid Company", ОАО "Ekaterinburgenergosbyt").

As of 2010 the revenues from services totaled RUR 49.8 bln., net profit reached RUR 1.7 bln (under RAS). Overall energy supply in 2010 amounted to 78.4 bln. kWh, productive supply totaled 72.0 bln. kWh, energy losses reached 6.3 bln. kWh.

Common shares are traded on MICEX (Quotation list "A2"). Free float is about 20%.

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)). 

IR team

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