Resolutions of the Company’s BoD session

21 June 2011

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

June 15, 2011 saw an in-absentia BoD meeting that decided over a range of managing and corporate issues, including:

 

Approval of a Company's underwriter

The Board of Directors approved Rosgosstrakh, OOO as the underwriter for insuring civil liability that may occur in case of damages due to faults in project documentation influencing the site security.

 

Approval of a 2010/2011 autumn-winter operations report

The BoD approved a 2010/2011 autumn-winter operations report. The operations during the period were completed successfully. Our staff prepared various institutional arrangements, rehearsed joint anti-incident trainings arranged with regional EMERCOM bodies, municipal and regional authorities as well as other grids owners.

 

Nomination for state awards

The Board of Directors decided to nominate Valery Nikolayevich RODIN, the CEO of IDGC of Urals, for a state award «Merited Power Engineer of the Russian Federation».

 

Approval of a 1Q 2011 business plan completion report

The BoD approved a 1Q 2011 business plan completion report. According to the report the overall revenues as of 1Q 2011 totaled RUR 14 927.7 mln, expenses - RUR 13 626.8 mln, net profit - RUR 896.0 mln. Energy supply totaled 21 136 mln kWh, productive supply - 18 911.0 mln kWh, losses - 2 225 mln kWh.

 

Determination of the Company's (representatives') positions on agenda issues of the GSM and BoD sessions of the SAC

The BoD entrusted its representatives at EESK and EES on BoD agenda issues to vote «For» while adopting resolutions on the approval of 1Q 2011 KPI completion reports and 1Q 2011 business plan (including investment program) completion reports.

 

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

Download IR release (pdf, 64 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 «B») and in RTS (Stock admitted for trading without listing). 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), AKM (www.akm.ru). 

IR Department

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

IR@mrsk-ural.ru

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