IDGC of Centre held its Annual General Meeting of Shareholders

Deputy Chair of the Board of Directors of the Company Oksana Shatokhina in her opening speech noted the confident development and achievement of high results of the Rosseti Group of Companies and IDGC of Centre in the past year. Thanks to high professionalism of the Company’s employees, the specific failure rate and the number of technological violations significantly decreased, electricity losses were reduced. Financial activity also reached a qualitatively new level.

General Director of IDGC of Centre Oleg Isaev in his speech stressed that in 2016 the Company improved operating and financial performance indicators, strengthened financial stability and increased the share of dividend payments to shareholders. IDGC of Centre retained leadership in the implementation of innovative technologies and reached new heights in terms of revenues and the total number of power grid assets.

After summing up the results of the Company’s activities in the reporting year, the shareholders considered the issues on the agenda and decided to approve the annual report and the annual accounting (financial) statements of the Company, the distribution of profits, including the payment of dividends for 2016. At the end of 2016, the profit was 1 866 675 thousand rubles. The dividends approved by the shareholders amounted to 100% of the Company’s profit.

RSM RUS Ltd. was approved as IDGC of Centre’s auditor for 2017. The following members were elected to IDGC of Centre’s Board of Directors:

• Tatiana Petrovna Dronova - Deputy General Director for Strategy and Development of ZAO «Investment Holding «Energy Alliance»;
• Denis Alexandrovich Spirin - Director for Corporate Governance of Representative Office of Prosperity Capital Management (Russian Federation) Ltd.;
• Roman Alexeyevich Filkin - Director, power engineering, machine building of Representative Office of Prosperity Capital Management (Russian Federation) Ltd.;
• Alexander Viktorovich Shevchuk - Executive Director of Association of Institutional Investors;
• Oleg Yuryevich Isaev - General Director of IDGC of Centre, PJSC, Acting General Director of IDGC of Centre and Volga Region, PJSC;
• Yury Nikolayevich Mangarov - Deputy Chief of Staff of PJSC «Rosseti»;
• Alexey Igorevich Pavlov - Director of Treasury Department of PJSC «Rosseti»;
• Pavel Nikolayevich Snikkars - Director of Electric Power Industry Development Department of the Ministry of Energy of Russia;
• Alexey Viktorovich Rakov - Director of Electricity Metering and Interaction with Stakeholders of Electricity Markets Department of PJSC «Rosseti»;
• Maxim Mikhailovich Saukh - Head of Corporate Governance Office of Corporate Governance and Interaction with Shareholders Department of PJSC «Rosseti»;
• Oxana Vladimirovna Shatokhina - Deputy General Director for Economy of PJSC «Rosseti».

For the fourth year in a row, the Company’s CEO, Oleg Y. Isaev, has been elected to the Board of Directors solely by the votes of minority shareholders, which confirms the high level of trust in the entire management of the Company, and also imposes additional responsibility for fulfilling strategic tasks aimed at improving the quality, reliability and security and safety of energy supply.

In addition, the shareholders elected a new composition of the Audit Commission of the Company and approved a number of documents in a new edition – the Articles of Association of the Company, the Regulations on the General Meeting of Shareholders, the Board of Directors and the Audit Commission of the Company.

Full information on resolutions taken by the Meeting is disclosed by the Company in accordance with the requirements of the law and is available on the website of the authorized news agency: http://www.e-disclosure.ru/portal/company.aspx?id=7985, as well as on the corporate website of the Company.