OREANDA-NEWS. June 8, 2007. The shareholders of OJSC Udmurtskaya Energosbytovaya Kompaniya (UESK, Udmurt Power Sales Company) held a general meeting.

The meeting endorsed the annual report, passed a decision on paying the dividends for 2006 and appointed the auditor of the company. The auditor for 2007 is CJSC BDO Unicon.

The meeting also elected a new BOD. Sitting on the BOD now are the IES representatives, IES-Holding Project Manager Mikhail Azovtsev, Head of the IES-Holding Asset Management Department Alexander Smolnikov, CJSC Federal Sales Center Senior Attorney Alexander Belsky, First Deputy Director General of the LLC IES-Trading Alexander Yevtiakov, Head of the Sales Department of the OJSC RCUS Denis Prosyankin, Deputy Head of the Finance Department of the CJSC Federal Sale Center Tatiana Konrakhina, and Commercial Director of the LLC IES-Trading Dmitry Kulikov. Also on the BOD are the representatives of RAO UES Russia Business Unit 1, Corporate Policy Department Manager Mark Andrushenko and Executive Director Vladimir Kolushev.

As part of the pilot project to form a competitive electricity sales market RAO UES Russia and IES-Holding have concluded an agreement on the trust management of OJSC UESK securities, held by RAO UES Russia. The share package transferred to trust management by IES-Holding amounts to 49% of the authorized stock. The authorized stock of UESK totals 58,720,486 rubles 44 kopecks and is divided among 167,566,476 common and 21,854,448 privileged shares with a face value of 0.31 each.