PJSC RusHydro (HYDR)
Results of the Board of Directors Meeting on September 30, 2020
PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Company's Board of Directors held a meeting on September 30, 2020.
Resolutions passed on Items of the agenda:
Item 1: On Approval of the Report on Interim Performance Results of the Company's Business Plan for 2020, Taking into Account the Actual Results for H1 2020 (inter alia, the Report on the Investment Program Implementation, Including the Complex Modernization Program for Generating Facilities, for H1 2020).
To approve the report on interim performance results of the Company's Business Plan for 2020, taking into account the actual results for H1 2020 (including the report on the Investment Program implementation, including the Complex Modernization Program for Generating Facilities, for H1 2020) (Schedule 1 to the Minutes).
Item 2: On the Status of Execution of the Priority Projects for the Construction of Facilities in the Far East.
1. To take in consideration the information on the status of execution of the priority projects for the construction of facilities in the Far East (Schedule No. 2 to the Minutes).
2. To assign the Company's Management to put together an action plan for completion of construction of the first phase of high-voltage 110kV Pevek-Bilibino overhead lines in 2023.
Item 3: On Consideration of Results of the Company's Corporate Governance Practices Assessment.
To take in consideration the results of the external and internal assessment of the Company's corporate governance practices, the results of the Company's Board of Directors self-assessment, as well as the key areas for further improvement of corporate governance and the work of the Company's Board of Directors (Schedule No. 3 to the Minutes).
RusHydro Group is the leading producer of renewable energy in Russia. It is Russia's largest generating company and is the fourth in the world with over 400 generating facilities. The Group's total electricity generation capacity including Boguchanskaya HPP is 38 GW.
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The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of RusHydro. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might," the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially from these statements. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industries, as well as many other risks specifically related to RusHydro and its operations.
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