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JSC RusHydro 92XY Results of the BoD on November 28, 2012



  JSC RusHydro (92XY) - Results of the BoD on November 28, 2012

RNS Number : 2882S
JSC RusHydro
29 November 2012
 



November 29^h, 2012

 

            Results of the Board of Directors on November 28, 2012

JSC RusHydro announces that the Company's Board of Directors held a meeting in
absentia on November 28, 2012.

                                     ***

The Board of Directors approved the list  of annual and quarterly KPIs of  the 
Company for 2013.

The following indicators were approved as annual KPIs:

1.   Cost management - simultaneously: 

·    reduction of costs through implementation of cost management program;

·    reduction  of costs  for  acquisition of  goods  (works, services)  on  a 
per-unit basis.

2.   Reliability criteria -  simultaneously:

·    exclusion of the number of  emergencies exceeding the limit value in  the 
Company and the Company's subsidiaries;

·    availability factor in the Company and the Company's subsidiaries.

3.   EBIDTA level

4.   Execution of capacities commissioning plan and financing and  development 
plan.

5.   Financial leverage ratio

 The following indicators were approved as quarterly KPIs:

1.   Reliability criteria - simultaneously:

·    accident rate (in relation to the  previous year) in the Company and  the 
Company's subsidiaries;

·    absence of fatal accidents or group health injuries at the workplace,  if 
there is  an  injured  person,  in the  Company  and  subsidiaries  generating 
electricity;

·    readiness certificate  receipt (availability) for  the Company's and  the 
subsidiaries' plants within specified period.

2.   Current liquidity ratio

3.   Execution  of  quarterly schedules  of  financing and  implementation  of 
investment program on an accrual basis year-to-date.

                                     ***

The Board of  Directors has approved  the list of  the Company's insurers  for 
2013.

 

The Board of  Directors has  approved the  Insurance Program  of RusHydro  for 
2013. The insurance  coverage expenses  for the  next year  increased by  2.2% 
according to the document. The slight increase in insurance expenses is driven
by the coverage extension,  increase in the  Company's assets, insurance  cost 
and expenses for additional health insurance of employees.

                                     ***

The Board  of Directors  has approved  voluntary medical  insurance  agreement 
between  RusHydro  and   SK  Alliance,  qualified   as  an  interested   party 
transaction, and determined the price limit of the agreement in the amount  of 
RUR 48,390,594.62.

The Board of Directors  has approved the agreement  on voluntary group  health 
and accident  insurance between  RusHydro  and SK  Alliance, qualified  as  an 
interested party transaction, and determined the price limit of the  agreement 
in the amount of RUR 3,390,649.88.

These agreements will be effective from January 01, 2013 to December 31, 2013.

 

 

For more information:

JSC RusHydro, Investor Relations Department

Tel. +7 (495) 225-3232 ext. 1319, 1394, 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. One 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 and  rapid 
technological and market  changes in  our industries,  as well  as many  other 
risks specifically related to RusHydro and its operations.

 

 

                     This information is provided by RNS
           The company news service from the London Stock Exchange
 
END
 
 
STRUKVVRURAAURA -0- Nov/29/2012 07:00 GMT
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