Resolutions of the Board meetings conducted on May 11-12, 2017

15 May 2017

On May 11-12, 2017 the Board of Directors has conducted two in-absentia Board meetings. In the course of the meetings directors have scrutinized and decided on the range of corporate issues.

On the meeting, conducted on May 11, 2017 (Minutes No.227 dated as of May 12, 2017), the Board of Directors has decided to enlarge the membership of the Executive Board. Now it consists of 7 directors. Vadim Anatolyevich Loktin, First Deputy General Director-Chief Operating Officer at IDGC of Urals, was elected to serve on the Board.
The Board of Directors has examined and approved several Company’s bylaws – Rosseti’s Regulations on the Uniform Technical Policy in the Grid Sector and Corporate Ethics and On-duty Conduct Code.
Besides, the Board of Directors has approved the Company's 2017 loss reduction action plan, examined the General Director’s report with regard to arrangement and functioning of the internal control system, 2016 Internal Audit’s report with regard to efficiency of the internal control and risk management systems, 1Q 2017 insurance coverage report, 2016 progress report regarding Company’s Innovative Development Program, as well as decided on other items of the meeting agenda.

On the meeting, conducted on May 12, 2017 (Minutes No.228 dated as of May 13, 2017), the Board of Directors has prepared recommendations for the Annual General Meeting of Stockholders regarding FY2016 profit allocation, FY2016 dividend size and payout procedure, proposals regarding the auditor nominee, drafts of amended and restated bylaws of the Company as well as regarding other items.

To view the Board minutes, please, visit Section “Board of Directors”.

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