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Meeting of OAO Irkutskenergo Board of Directors held 19 August, 2011 in Irkutsk

Meeting of OAO Irkutskenergo Board of Directors to consider issues related to the Company’s operations was held on 19 August, 2011 in Irkutsk. As a result of the meeting, the following decisions were made:
- To call for an extraordinary General Meeting of Shareholders of OAO Irkutskenergo 6 October, 2011 in the form of an absentee ballot with the following agenda:
1. Approval of the transaction based on additional agreement № 1 to electric power and capacity purchase and sales contract dated 12.01.2009 № РБ-Д-09-03-354 (RB-D-09-03-354), signed by OAO Irkutskenergo and OAO RUSAL Bratsk, which is subject to interest.
2. Approval of the transaction based on additional agreement № 1 to electric power and capacity purchase and sales contract dated 11.15.2009 № 04/180, signed by OAO Irkutskenergo and OAO SUAL, which is subject to interest.
- To identify the number and composition of the Committee on Strategy and Reforms under the Board of Directors of OAO Irkutskenergo as seven persons presided over by the First Deputy General Director – Financial Director of OAO Eurosibenergo Vyacheslav Solomin;
- To identify the composition of the Audit Committee under the Board of Directors of OAO Irkutskenergo presided over by the Deputy General Director of OOO En+ Management Andrey Likhachev;
- To identify the composition of the HR and Incentives Committee under the Board of Directors of OAO Irkutskenergo presided over by the Deputy General Director of OOO En+ Management Andrey Likhachev;
- To identify the number of composition of the Budget Committee under the Board of Directors of OAO Irkutskenergo as six persons presided over by the First Deputy General Director – Financial Director of OAO Eurosibenergo Vyacheslav Solomin.
The Committees include independent members of the Board of Directors of OAO Irkutskenergo, managers of OAO Irkutskenergo and representatives of OAO Inter RAO UES and OAO RusHydro. Committees under the Board of Directors of OAO Irkutskenergo align activities of the Company’s Board of Directors and its executive bodies related to ensuring the Board’s control over the Company’s financial operations; increase the efficiency of the Company’s budgeting; work out principles and criteria for bonuses and incentives paid to the Company’s Board of Directors and its head, members of the Management Board and its head, members of the Audit Committee; develop and implement the Company’s strategy to improve its performance, fulfil investment plans and programmes of the Company.

Press service of OAO Irkutskenergo

22 August, 2011

August 22, 2011
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