October
5, 2018. Moscow,
Russia. PJSC RusHydro (ticker
symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Company's
Board of Directors held a meeting in absentia on October 03, 2018.
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The Board of Directors approved the report on
execution of PJSC RusHydro’s comprehensive procurement program for
the first half of 2018. The Company has carried out 1,369 procurement
procedures in the first half of the year with 96% of competitive
tenders carried out in electronic format. The effect of carrying out
procurement procedures amounted to 5.5% or RUB 1.1 bn.
The Board of Directors approved Unified
regulations on procurement of RusHydro Group, the document will be
effective as of November 1, 2018.
***
The Board of Directors approved adjusted list of
investment projects of PJSC RusHydro for public technological and
price audit in 2018-2019.
***
The Board of Directors approved divestment by PJSC
RusHydro and its subsidiaries of 40% in authorized share capital of
LLC VolgaHydro to Voith Hydro for RUB 450 mn. The price determined by
an independent appraiser covers RusHydro’s investment into the
project. The deal is to be closed before the end of 2018. Voith
Hydro, an international mechanical-engineering company, will assume
full ownership of VolgaHydro manufacturing hydropower turbine
equipment in Balakovo, Saratov region, upon completion of the
transaction.
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