Annual General Shareholders’ Meeting of JSC "MOESK": Year 2013 Results

On June 24, the annual General Shareholders’ Meeting of JSC "Moscow United Electric Grid Company" was held. It was attended by the owners of 44.83 bn ordinary shares representing more than 92% of voting shares.

The event was also attended by the representatives of JSC "Russian Grids", Board of Directors, Russia’s Energy Ministry, top management of JSC "MOESK" and others.

According to Director General of JSC "Russian Grids" Oleg Budargin, the performance of MOESK in 2013 once again demonstrated that the Company rightly holds a leading position in the assets of "Russian Grids" in respect of major financial and production performance. He thanked the team MOESK for work and noted that last year had been really difficult, but successful. In addition to ensuring the reliability of power supply, according to the head of "Russian Grids", today it is important to gain confidence, be open and understandable to customers.

Deputy Minister for Energy Industry of the Russian Federation Vyacheslav Kravchenko also highlighted the achievements of MOESK and thanked power engineers for their assistance to colleagues in other regions, including the provision of uninterrupted power supply to the Olympic Games in Sochi.

Director General of JSC "MOESK" Petr Sinyutin in his report dwelled on the results of the production and financial performance. According to him, the priorities in the work of the company remain unchanged: reliability and quality of electricity supply, advanced development of the grid, availability of the grid infrastructure, improvement of client services.

During the annual General Shareholders’ Meeting of JSC "MOESK", decisions were taken on all agenda items.

Annual report, accounting statements and distribution of profits for 2013 were approved, members of the Board of Directors and Auditing Commission were elected*. The Board of Directors of JSC "MOESK" included seven representatives of the majority shareholder JSC "Russian Grids", four representatives of CJSC "Leader", one representative of "Gazprombank" (OJSC) and one of JSC "OEK-Finance". Elected members of the Board of Directors changed by 15.4%. O.M Budargin, A.A. Gavrilenko, A.A. Dyomin, A.A. Kokin, V.M. Kravchenko, S.Yu. Lebedev, P.A. Livinskiy, S.A. Nikitin, A.V. Nuzhdov, P.A. Sinyutin, O.V. Shatokhina retained their places.

According to the voting results, like in the past year, it was decided to assign 25% of the net profit for payment of dividends in the amount of RUR 0.05975 per ordinary share.

The meeting also approved new versions of the following documents of JSC "MOESK": Charter, Regulation on the Procedure for Preparation and Holding of the General Shareholders' Meeting, Regulation on the Auditing Commission and a number of interested party transactions, and which may be accomplished in the future.

LLC "Ernst & Young" was approved by MOESK shareholders as the auditor.

1. Budargin Îleg Mikhailovich - Director General of JSC “Russian Grids”
2. Gavrilenko Ànatoly Anatol’evich - Director General of CJSC “Leader”
3. Grishchenko Sergey Valentinovich - Deputy Chief of the Direct Investments Department of GPB (OJSC)
4. Dyomin Àndrey Alexandrovich - First Deputy Director General for Economy and Finances of JSC “Russian Grids”
5. Kokin Andrey Anatol’evich - Director General of LLC “Story Capital”
6. Kravchenko Vyacheslav Mikhailovich - Deputy Energy Minister of the Russian Federation
7. Lebedev Sergey Yur’evich - Director of the Strategic Development Department of JSC “Russian Grids”
8. Livinsky Pavel Anatol’evich - Head of the Department of Fuel and Energy Complex of Moscow
9. Mangarov Yury Nikolaevich - Advisor to JSC “Russian Grids”
10. Nikitin Sergey Alexandrovich - Deputy Director General – Chief of the Corporate Control Administration of CJSC “Leader”
11. Nuzhdov Alexey Viktorovoich - Deputy Director General for Investments and Relations with State Bodies of CJSC “Leader”
12. Sinyutin Pyotr Alexeyevich - Director General of JSC “MOESK”
13. Shatokhina Oxana Vladimirovna - Deputy Director General for Economy of JSC “Russian Grids”