Hotline of power engineering specialists:
June 8, 2016 in Moscow IDGC of Centre, PJSC (included in the Group of Companies "Rosseti") held its Annual General Meeting of Shareholders, chaired by Top Adviser of PJSC "Rosseti", Chair of the Board of Directors of IDGC of Centre, PJSC Yury Mangarov.
The Meeting was presided together with Yury Mangarov and CEO of the Company Oleg Isaev by Oksana Shatokhina - Deputy General Director for Economy of PJSC "Rosseti", members of the Management Board of the Company Konstantin Mikhailik - First Deputy General Director of the Company, Sergey Rumyantsev - Deputy General Director for Economy and Finance, and Sergey Sharapov - Deputy General Director for Corporate Governance of the Company.
In her opening speech Oksana Shatokhina noted that in the past year, despite the difficult economic conditions, "Rosseti" and its subsidiaries continued to grow steadily. Through coordination at the level of PJSC "Rosseti" of operational, investment and financial processes in the subsidiaries, it was made possible to have stable operation of grids and reliable power supply to customers. Such a synchronized approach allowed to achieve positive results on key performance indicators.
In 2015, despite the impact of external negative factors IDGC of Centre, PJSC diversified its loan portfolio and maintained financial stability. The Company managed to reduce operating expenses by 8.5% compared to 2014 and to receive on the basis of 2015 net profit of 909 mln RUB, which is 1,334.8 mln RUB above the plan.
The Meeting summed up the Company’s operations in 2015, reviewed the issues of the Meeting agenda, including approval of the Company’s annual report, annual accounting (financial) statements, as well as distribution of profits (dividends) and losses based on the results of 2015, election of members of the Board of Directors and members of the Audit Commission, approval of the Company’s Auditor, amendments to the Regulation on the General Meeting of Shareholders, the Regulation on the Board of Directors and the Regulation on payment of remuneration and compensation to members of the Board of Directors and approval of the Regulation on the Board of Directors in a new edition.
Shareholders also discussed the distribution of profits (dividends) and losses by results of 2015, taking into account the recommendation of the Company’s Board of Directors to decide on the payment of dividends on ordinary shares of the Company for 2015 in the amount of 0.0108 RUB per ordinary share of the Company in cash, which is a record since the founding of the company.
"The priorities for us are still improving the quality, reliability and safety of power supply," stressed Oleg Isaev. "The Company will continue to decrease receivables, optimize operating costs and preserve the size of dividends. I am convinced that the unconditional result of this work should be growth of shareholder value as well."
Information on the resolutions, taken by the Annual General Meeting of Shareholders, will be published in the Interfax newswire no later than 15.06.2016 (Moscow time).