JSC RusHydro (92XY) - Results of the BoD on November 28, 2012
RNS Number : 2882S
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
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
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
· absence of fatal accidents or group health injuries at the workplace, if
there is an injured person, in the Company and subsidiaries generating
· 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
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
bythe 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
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 January01, 2013 to December 31, 2013.
For more information:
JSC RusHydro, Investor Relations Department
Tel. +7 (495) 225-3232 ext. 1319, 1394, 1607
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
STRUKVVRURAAURA -0- Nov/29/2012 07:00 GMT
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