The Annual General Meeting of Shareholders of Generation Company Four of the Wholesale Power Market (OGK-4) was held on May 25, 2007, in Moscow. The AGM Minutes were signed today, May 28. The Meeting quorum was about 91.2% of the total quantity of OGK-4 voting shares. The list of persons entitled to participate in the Meeting was made as of April 10, 2007.
The OGK-4 shareholders decided to approve the 2006 OGK-4 Annual Report, Annual Financial Statements according to RAP, including the Profit and Loss Statement. According to the shareholders' resolution, the OGK-4 dividends according to the 2006 results will be 0.004071 ruble per ordinary share. Out of the total amount of undistributed profits for 2006 (514,246,000 rubles), it was decided that 200,011,000 rubles would be allocated for dividend payment, 288,523,000 rubles for investment, and 25,712,000 rubles for the reserve fund.
In addition, it was resolved to payment the following dividend according to the results of 1Q07: 0.0030531 rubles. It is planned to allocate a total of 150 million rubles for the dividend payment according to the 1Q07 results.
The dividend on OGK-4 shares for 2006 and 1Q07 will be paid in cash within 60 days from the date of the decision on dividend payment.
The following persons were elected to the OGK-4 Board of Directors:
- Yury Makushin, Deputy Managing Director, RAO UESR Business Unit No. 2;
- Mikhail Lisyansky, Deputy Managing Director, RAO UESR Business Unit No. 2;
- Dmitry Fedorchuk, Head of the Corporate Governance Department, RAO UESR Business Unit No. 2;
- Anna Vasilyeva, Deputy Head of the Personnel Management Department, RAO UESR Corporate Center;
- Aleksey Kachay, Deputy Head of the Strategy Department of the Reform Management Center, RAO UES of Russia;
- Andrey Kitashev, Director General of OGK-4;
- Igor Yurgens, Chairman of the Board of Directors, Renaissance Capital;
- Stanislav Neveynitsyn, Deputy Director General, Mezhregionenergosbyt;
- Yelena Ulanovskaya, Head of Section of the Corporate Governance Department, RAO UESR Business Unit No. 2;
- Mikhail Molchanov, Deputy Head of the Department for Project Implementation, RAO UESR Business Unit No. 2;
- Yelena Yevseyenkova, Deputy Head of the Department for Economic Planning and Financial Control, RAO UESR Business Unit No. 2.
The meeting elected the Internal Audit Commission of the Company (5 persons), with PricewaterhouseCoopers Audit approved as the Company's External Auditor. In addition, the shareholders approved the restated Regulations for Payment of Remuneration and Compensations to OGK-4 Board of Directors Members.