Resolutions adopted by the Annual General Meeting of Stockholders

08 June 2017

Jun. 05, 2017 IDGC of Urals (a part of Rosseti family) conducted its Annual General Meeting of Stockholders in Yekaterinburg. The meeting was chaired by Sergey Semerikov, Chief Advisor at Rosseti (PAO) and Chair of the IDGC of Urals’ Board of Directors.

In his introductory speech Sergey Semerikov emphasized: “Just as in previous years, in 2016 IDGC of Urals (OAO) has demonstrated its sustainable significant performance retaining its dominant position on the energy market of the Urals and Kama regions, built on the principles of transparency, efficiency and integrity of business. The Company’s has outperformed its FY2015 financial and economic results. The Company’s opex-reduction program, well-balanced credit policy, sound performance of economic and technical divisions were combined to achieve strategic objectives i) to lower equipment deterioration and revamp it; ii) to make access to network infrastructure easier for consumers; as well as iii) to guarantee reliable operability of the Urals and Kama energy systems”.

Yuri Goncharov, representative of the Company’s majority stockholder, Deputy General Director for Corporate Governance at Rosseti (PAO) and IDGC of Urals Board of Directors’ member, said in his speech: “Rosseti (PAO) coordinated operational, investment and financial processes of its affiliates and enforced stable operations of the grids and reliable energy supply. Identification of internal sources to enhance efficiency will be Rosseti Group’s priority for the present year. Unified approaches to arrangement of grid functioning to be integrated in the Company’s performance by the Group further on will play an important role in the process. I am confident that meaningful cooperation between the state, stockholders and management will assist in reaching the goals. We'll be fully committed to enhance efficiency of usage and availability of the grid infrastructure that, in the long run, will enhance performance for the benefit of all stockholders of companies of the grid sector”.

In the course of the meeting the stockholders have approved FY2016 annual report and financial statements. The stockholders have also agreed to pay RUB 0.0083 as dividends per one common share of the Company as of FY2016 in monetary form.

The stockholders approved the following composition of the Board of Directors:

Yury Vladimirovich Goncharov
Roman Avgustovich Dmitrik
Denis Viktorovich Kulikov
Natalia Aleksandrovna Ozhe
Sergey Aleksandrovich Semerikov
Aleksey Yuryevich Serov
Vladimir Vladimirovich Sofyin
Yakov Savelyevich Tesis
Aleksandr Nikolayevich Fadeev
Aleksandr Viktorovich Shevchuk
Yulia Vitalyevna Yascheritsyna

The stockholders approved the following composition of the Board of Internal Auditors:

Elena Aleksandrovna Kabizskina
Svetlana Anatolyevna Kim
Artem Nikolayevich Kirillov
Marina Alekseevna Lelekova
Elena Yuryevna Slesareva

It should be noted that stockholders strive to enforce compliance of the Company with the best governance practices. They also aspire to have more independent directors serving on the Board of Directors. The  present composition of the Board of Directors, elected by the Annual General Meeting, contains three independent directors. This is one of the factors enabling possible inclusion of Company’s shares into Level 1 List and underlining aspiration of stockholders to make corporate governance more transparent.

To view the AGSM minutes, please, visit Section “General Shareholder Meeting” of our official web-site.

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