Results of the Board of Directors Meeting on May 28, 2020
PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Company's Board of Directors held a meeting in absentia on May 28, 2020.
Resolutions passed on Items of the agenda:
Item 1: Updating the Charity and Sponsorship Program of the Company for 2020.
1. To update the Charity and Sponsorship Program of the Company for 2020 (the "Program") as follows:
Clause 6.5 shall be added to section "Measures Aimed at the Socio-Economic Development of the Constituent Entities of the Russian Federation" of the Executive Office to read as follows:
To finance the construction of an infectious diseases hospital in the city of Saratov in the Saratov Region
2. The expenses associated with the charity provided for in Clause 6.5 of the Program shall not be taken into account when summing up the respective annual key performance indicators of members of the Management Board of the Company in 2020 and key performance indicators of the second cycle Long-Term Motivation Program of the Company for 2018-2020.
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 in Russia and Armenia. The Group's total electricity generation capacity including Boguchanskaya HPP is 39.5 GW.
Russian Federation owns 61.20% in RusHydro, the rest is held by other institutional and individual shareholders (over 360,000). The company's stock is traded on the Moscow Stock Exchange. Company's GDRs in the IOB section of LSE, ADRs - in OTCQX.
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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.