Resolutions of the Board meeting conducted Jun. 02, 2017

06 June 2017

Jun. 02, 2017 the Board of Directors has conducted an in-absentia Board meeting. In the course of the meeting directors have scrutinized and decided on the range of corporate issues.

The Board of Directors has approved the following insurer as a Company’s underwriter:

Type of insurance Insurer Insurance period
Insurance of civil liability arising from defected design works and impacting the security of capital construction facilities VSK (SAO) 25.05.2017-24.05.2018

The Board of Directors has also scrutinized and adopted the Company's 1Q 2017 report regarding business plan completion. Key parameters of the report are presented in the figure below:

Indicator 1Q 2017
Revenues, RUB million, incl. 18,682.3
Electricity transmission, RUB million 18,495.7
Connection, RUB million 103.6
Expenses, RUB million 16,604.2
Administrative expenses, RUB million 269.2
Net income, RUB million 939.7

Besides, the Board of Directors has examined the 2016 progress report regarding PAMS development action plan, Corporate Secretary’s statement of work, Audit Committee’s statement of work for 2016-2017 corporate year, 2016 report regarding roll-out, functioning and efficiency of the risk management system, 2016 progress report regarding Company’s Grid Asset Consolidation Blueprint, as well as decided on other items of the meeting agenda.

To view the Board minutes, please, visit Section “Board of Directors”.

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