The Annual General Meeting of Shareholders of PJSC Inter RAO was held in Moscow on May 25, 2021. This year it was held in the form of absentee voting again, and the quorum was present due to digital technology development: each shareholder was able to watch reports of management and the Board of Directors on agenda items (the recording is available on the company's website), get answers to questions live, and vote using a shareholder's account on the websites of the company and the registrar.
In accordance with the decision of PJSC Inter RAO Board of Directors, and to meet the requirements of the Corporate Governance Code approved by the Bank of Russia, and the world's best corporate practices, quasi-treasury shares of PJSC Inter RAO held by JSC Inter RAO Capital were not included in the voting.
Shareholders approved the Company's annual report and annual accounting statements for 2020. The shareholders considered the distribution of profits and losses for 2020 and resolved to allocate RUB 993.748 million to the reserve fund, and RUB 14.958 million for covering losses of previous years, and RUB 18.866 billion for dividend payment totaling 25% of the IFRS net profit of Inter RAO Group (RUB 0.80711206896552 per ordinary share). Persons included in the shareholder register as at June 7, 2021, have a right to dividends. Dividends are to be paid to nominee holders and trustees, which are professional participants of the securities market, registered in the shareholder register, on or before June 22, 2021, while other shareholders registered in the shareholder register will receive dividends on or before July 13, 2021.
During the Annual General Meeting of Shareholders, members of the Board of Directors and the Audit Committee of the Company were elected.
Based on the results of the voting, the following persons were included in the Board of Directors:
- Boris AYUYEV, member of the Presidium of Non-Commercial Partnership Russian National Committee of the International Council for Major High-Voltage Electrical Systems;
- Andrey BOUGROV, Senior Vice-President for Sustainable Development, Nornickel;
- Anatoly GAVRILENKO, Chief Executive Officer, Leader CJSC;
- Boris KOVALCHUK, CEO of PJSC Inter RAO;
- Alexander LOKSHIN, First Deputy Director General for Nuclear Energy, State Atomic Energy Corporation Rosatom;
- Vladimir MILOVIDOV, head of the Department of International Finance, Moscow State Institute of International Relations (MGIMO);
- Andrey MUROV, First Deputy Director General – Executive Director, Rosseti, PJSC;
- Ronald POLLETT, Chairman GE in Russia and the CIS, General Electric Company; Senior Advisor, Baker Hughes;
- Elena SAPOZHNIKOVA, Director of ANO "Center for Project Support in the field of the Climate Agenda and Sustainable Business Development", General Director of LLC UT Partnership Network;
- Igor SECHIN, Chief Executive Officer, Chairman of Rosneft's Management Board;
- Dmitry SHUGAYEV, Director of the Federal Service for Military-Technical Cooperation.
The list of candidates for the Board was made based on suggestions of shareholders who have two and more per cent of PJSC Inter RAO's voting shares.
The members of the Audit Committee included:
- Gennady BUKAEV, General Director of ROSNEFTEGAZ, Vice-President, Head of Internal Audit of Rosneft;
- Tatyana ZALTZMAN, Head of the Economic Planning Department of Financial and Economic Center of PJSC Inter RAO;
- Svetlana KOVALEVA, Director of Internal Audit - Head of Internal Audit Department of PJSC FGC UES;
- Igor FEOKTISTOV, Internal Control and Risk Management Director, Head of the Internal Control and Risk Management of PJSC FGC UES;
- Ekaterina SNIGIRYOVA, Deputy Head of the Department of Property Affairs and Privatization of Major Organizations of the Federal Agency for State Property Management (Rosimushchestvo).
Ernst & Young LLC was approved as the auditor of PJSC Inter RAO.
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Inter RAO Group is a diversified energy holding serving various segments of Russian and international electric power industry. The Group is the leading exporter and importer of electricity in Russia actively increasing electricity generation and sales, and developing new lines of business.
The corporate strategy of Inter RAO is focused on making Inter RAO a global energy enterprise, a key player in the global energy market, and Russia's leading electric utility by energy efficiency. Inter RAO Group owns and operates approximately 30.8 GW of installed power generation capacity.