Results of the Board of Directors on September 17, 2013
September 17 2013 - 10:32AM
OTC Markets
Results of the Board of Directors on September 17,
2013
September 17, 2013. Moscow, Russia. JSC RusHydro (ticker symbol: MICEX-RTS, LSE: HYDR;
OTCQX: RSHYY) announces that the Company's Board of Directors held
a meeting in absentia on September 17, 2013.
***
The Board of Directors approved resignation of Alexey Maslov as the
member of the Management Board of RusHydro, taking effect from September 17,
2013, and elected Sergey Tolstoguzov to the Management Board, effective September 18, 2013. The Board of Directors also approved combining positions of Chief Executive Officer, Chairman of the
Management Board and member of the Board of Directors of RAO ES of East with the position of the Supervisory Board member of non-commercial partnership
NTS UES by Sergey Tolstoguzov.
Currently, RusHydro implements its major
investment project, construction of four power projects in the Far East of Russia: heat and power plant in Sovetskaya Gavan?, the Sakhalinskaya power plant No.2 (the 1st stage),
the Yakutskaya power plant No.2 (the 1st stage) and the
Blagoveschenskaya power plant No.2 (the 2nd stage). RAO
ES of East (a subsidiary of RusHydro) is coordinating this project.
The election of Sergey Tolstoguzov to the Management Board of RusHydro is related to the importance of the investment projects in the Far East.
Sergey Tolstoguzov was born in 1964.
He is a qualified power engineer. He graduated from the Magnitogorsk State Technical University named after G.I.
Nosov majoring in "Power supply to industrial facilities, cities and
agricultural sector". In February 2011, he was appointed the First Deputy CEO of Tehnopromexport. From 2007 to 2011, Sergey Tolstoguzov was a member of the Management Board of INTER RAO
UES, responsible for asset management and integration. He also held executive positions in RAO UES of Russia, Rosenergoatom and Bashkirenergo. On
November 30, 2011, Sergey Tolstoguzov was appointed Chief Executive
Officer of RAO ES of East by the Board of Directors of the company.
Alexey Maslov had been the member of the Management Board of RusHydro since 2010,
he will hold another position at the Company.
About RusHydro:
RusHydro Group is one of Russia?s largest generating companies. RusHydro is the leading producer of
renewable energy in Russia with over 70 generating
facilities in Russia and abroad. The company also manages a number of R&D,
engineering and electricity retail companies. Group?s thermal
assets are operated by subsidiary ? RAO Energy System of East in
the Far East of Russia. Total electricity generation
capacity of the Group is 36.5 GW, heat capacity ? 16.2 thousand
GCal/h.
Russian Federation owns 67.1% in RusHydro, the rest is
held by other institutional and individual shareholders (over
360,000). The company?s stock is traded on the MICEX and RTS stock
exchanges, and included in MSCI EM ? MSCI Russia indexes. Company?s
GDRs in the IOB section of LSE, ADRs ? in OTCQX.
For more information:
JSC RusHydro, Investor Relations Department
Tel. +7 (495) 225-3232 ext. 1319, 1607
ir@rushydro.ru
DISCLAIMER
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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