IDGC of Centre held the Annual General Meeting of Shareholders

30.05.2019

On 30 May 2019, the Annual General Meeting of Shareholders of IDGC of Centre, PJSC following the results of 2018 was held in Moscow, at which the Company’s annual report, accounting (financial) statements were approved, the Board of Directors was elected, and the profit was distributed.

The meeting was chaired by Alexander Kazakov – professional director, Chairman of the Company’s Board of Directors.

According to the results of the reporting year, the net profit of IDGC of Centre, PJSC amounted to 1,405.4 million rubles, of which it was decided to distribute 876.2 million rubles, or 62%, for dividends. The size of dividends for 2018 was approved in the amount of 0.0207533 RUB per one ordinary share with the recommendation of the Board of Directors. The record date of the list of persons entitled to receive dividends is 10 June 2019.

The following members were elected to IDGC of Centre’s Board of Directors (positions are indicated at the time of nomination):

  • Alexander Viktorovich Golovtsov;
  • Vitaly Yuryevich Zarkhin;
  • Alexander Viktorovich Shevchuk - Executive Director, Association of Institutional Investors;
  • Igor Vladimirovich Makovskiy - General Director of IDGC of Centre, PJSC;
  • Alexander Ivanovich Kazakov - Chairman of the Board of Directors of JSC "DVEUK", professional director;
  • Larisa Anatolievna Romanovskaya - Top Advisor of PJSC ROSSETI;
  • Alexey Igorevich Pavlov - Director of Treasury Department of PJSC ROSSETI;
  • Andrey Vyacheslavovich Logatkin - Director of International Cooperation Department of PJSC ROSSETI;
  • Dmitry Alexandrovich Chevkin - Deputy Director of HR Department of PJSC ROSSETI;
  • Maxim Mikhailovich Saukh - Head of Corporate Relations Office of Corporate Governance Department of PJSC ROSSETI;
  • Alexander Viktorovich Varvarin - Vice-President - Managing Director for Corporate Relations and Legal Support of Russian Union of Industrialists and Entrepreneurs.

A new composition of the Company’s Audit Commission was elected. Ernst & Young LLC was approved as the Company’s Auditor for 2019. Several revised documents were also approved – the Company’s Articles of Association, the Regulation on the General Meeting of Shareholders, the Board of Directors, the Management Board of the Company, and the Regulation on the payment of remuneration and compensation to members of the Company’s Board of Directors. A decision was made on the participation of IDGC of Centre in Association SRO “Centre of Survey” and NP “NTS EES”.

The Annual General Meeting of Shareholders of the Company was attended by 86.5% of the shareholders, taking into account the participants who cast their votes in absentia or by electronic voting. For the second year in a row, the event provided an opportunity for electronic voting. Also, this year, the work of the forum for discussing issues on the agenda and the hotline was resumed.

General Director of the Company, Igor Makovskiy, was elected to the Board of Directors with the support of minority shareholders, which testifies to his considerable experience, authority and trust in him. The entry of General Director into the Board of Directors of the Company will ensure the preservation of the chosen strategic course and will strengthen mutual understanding between the management of the company and representatives of the shareholders.

General Director of IDGC of Centre, Igor Makovskiy, presented to the shareholders the results of the Company’s activities in 2018. The Head of the Company noted in his speech that in the reporting year IDGC of Centre fully provided reliable and high-quality power supply to consumers in 11 regions of the Central part of Russia, and also achieved positive financial and operational results in its primary activities, while maintaining its dominant position in the electricity transmission and grid connection markets in the regions of operations. Remaining one of the leaders in terms of the length of power transmission lines and substation capacity among distribution grid companies, IDGC of Centre continues to actively upgrade its production assets and reduce the failure rate.

“Last year IDGC of Centre continued to actively increase its production potential and reduce the specific failure rate. It is important to note that among the main causes of technological violations recorded in 2018, there was not a single case of errors of the company’s staff,” stressed Igor Makovskiy in his report. “In the nearest plans of the Company, the implementation of the concept of digital transformation projects, which will allow to reduce the cost of maintenance, repair and operation of electrical grid facilities, decrease grid losses, significantly reduce the number and elimination time of technological interruptions and, as a result, improve the quality and reliability of electricity supply,” he added.

Please, be reminded that in 2019 work began in all branches of IDGC of Centre to create unified grid control centres, which replace the existing control centres. Also, in the current year, the implementation of the “Digital Distribution Zone” and “Digital Substation” projects will begin. The first two digital Distribution Zones in the Company’s structure will be created by the end of 2019 on the basis of the branches “Belgorodenergo” and “Voronezhenergo”.

The voting results, as well as complete information on the decisions taken by the Meeting, are disclosed by the Company in the terms established by the legislation of the Russian Federation and will be available on the website of the authorized news agency and on the corporate website of the Company.

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