Resolutions of the Board meeting conducted Jul.20, 2017

24 July 2017

On Jul. 20, 2017 the Board of Directors has conducted an in-absentia Board meeting. In the course of the meeting directors have scrutinized and decided on the range of administrative and corporate issues. 

The Board of Directors has approved the following insurer as a Company’s underwriter:

Type of insurance Insurer Insurance period
Insurance of civil liability to cover possible damages from poor FEED works that may impact the security of capital construction facilities SAO “VSK” 25.07.2017-24.07.2018

Besides, the Board of Directors has also adopted the Company’s Enhanced Operating Efficiency and Cost-Cutting Blueprint for 2017-2021. The Blueprint was revised to comply with the Rosseti’s cost-cutting action plan, adopted by the Rosseti’s Board of Directors, and comprises a set of measures to enhance internal efficiency and profitability by optimizing internal business processes.

The Board of Directors has also examined and adopted the Company’s 2H2017 Non-state Pension Scheme Program, reports regarding execution of the Board of Directors’ assignments, 2Q 2017 progress report regarding non-core asset sale, EGM-related expenses, etc.

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