Publication date: 23.10.06
Back to list

OGK-4 BOARD OF DIRECTORS APPROVES APPRAISAL OF OGK-4 PROPERTY

The Board of Directors of Generation Company Four of the Wholesale Electric Power Market (OGK-4) has approved the Agency Agreement between the Company and RAO UES of Russia, which is a related party transaction. According to the terms and conditions of the Agreement, the OKG-4 property will be appraised and reevaluated. The work under the Agreement will be done to put a fair value on the Company's tangible assets in accordance with the requirements of the International Accounting Standards (IAS) for making consolidated statements of the RAO UES of Russia Group and other groups of the Holding Company, as well as in accordance with the requirements of the Russian Accounting Standards (RAS).  

 

In addition, the OGK-4 Board of Directors has approved the Company's Corporate Governance Code and the Regulations for Information Policy and amended the OGK-4 Insider Information Regulations. The Board has also given a preliminary approval of the Supplement to the Collective Agreements in terms of the implementation of the Regulations for Bonus Payments to the OGK-4 Subsidiaries' Operating Personnel, which participate in   the fulfillment of the planned generation schedule.