OREANDA-NEWS. July 17, 2007.  In accordance with agenda the stockholders approved the annual report, annual accounting statements, including Profit and Loss Account of the Company as well as distribution of profit (incl. Paying out the dividends) and losses of the Company for results of reporting financial year 2006.

Results of Company operation for 2006 were presented by General Director of JSC "Grid Company" Edvard Yunusovich Abdullazyanov. In its report he said that one of basic results were competition of the big project for formation in Republic of Tatarstan the single grid distribution company, the final stage of which was the merger of JSC "Tatelektroset".

Basic figures of JSC "Grid Company" activities for 2006 were reported. In the grids in the last year were transferred 16,519 m. kWh of electricity. Total length of aerial electricity transmission lines constitutes 9,981.6 km.

On balance of JSC "Grid Company" are 374 hi-voltage substations with total general transformer capacity 15,833 MVA. Length of distribution networks of the Company is 50, 789.70 km. General number of RP and TP - 16,412. Regarding the amount of transferred and distributed power the JSC "Grid Company" is among the first ten analog companies of Russia.

Within the last year were constructed and reconstructed 396 km of aerial lines using self-bearing insulated cable, replaced 60.7 th. of one-phase meters of electricity including meters of accuracy class 2.5 by 2.0 in branches of the Company, numbering 56.5 th. units, were installed 24 meters SET-4ТМ.03 at 13 substations.

Since 01.01.2006 was commissioned and meets the requirements the NP "АTS" AIIS KUE of wholesale electricity market.

As of 01.01.2007 total length of HL - 0.38 kV was 1,898 km., at the Company substations are operated 721 commercial meters and 1,275 technical meters ASKUE.

In 2006 the first results were received on certification of quality of electricity - first 2 certificates for 4 feeding centers, proving the quality compliance of electricity supplied to consumers, requirements of GOST 13109-97. In total JSC "Grid Company" plans to certify 569 feeding centers.

The lack of emergencies in 2006 on the entities of the Company was reported. Profitability of services for transfer of electricity constituted 5.2%. Basing on results for 2006 the Company net income was 67,896 th. rubles.

Stockholders decided to calculate and pay out the annual dividends on common stocks of the Company, for payment were transferred the funds in amount of 10% оf the net income. In accordance with requirements of the Articles of Association 5% of net income were streamed to provision fund of the Company. Remaining income was streamed to development of production.

At the meeting the new members of the Board of Director was elected including:
Edvard Abdullazyanov - General Director of JSC "Grid Company";
Ilgizar Gaifullin - Deputy General Director of JSC "Tatenergo" – Technical Director;
Alexander Evseev - Chief Power Engineering Specialist of JSC "Tatneft";
Ildus Zaripov - Director of company "Energosbyt", branch of JSC "Tatenergo";
Gulsina Minnehanova - First Deputy General Director of JSC "Tatenergo" - Director for Economics and Finances;
Damir Safiullin - Deputy General Director of JSC "Tatenergo" for Corporate Policy and Property Management;
Farid Tuktarov - Deputy Minister for Economics and Industry of RT;
Ilshat Fardiev - General Director of JSC "Tatenergo";
Yuri Schelokov - Deputy General Director of JSC "Tatenergo" for relations with utility power engineering entities.

The Auditor’s Committee of the Company was elected, as well as the Auditor - JSC "FBK "Povolzhie".

Were approved the new wordings of Articles of Association and internal documents - regulations of general meeting of stockholders, Board of Directors, General Director and Auditor’s Committee of the JSC "Grid Company".

General meeting of stockholders made decision to increase the authorized capital of JSC "Grid Company" by placement by close subscription of the additional common registered stocks. The persons enrolled in close subscription were determined, as well as the list of independent assessors, attracted for assessing the market value of assets entered as payment for placed additional stocks.

Stockholders approved concluding transactions with interest, that may be effected I future during effecting by JSC "Grid Company" its regular business.

Finally, the Chairman of the general meeting of stockholders I.Sh.Fardiev thanked the management of the Company and emphasized that the goal of the Company, the provision of reliable and quality power supply to consumers in Republic of Tatarstan, was reached due to efficient work of managerial bodies, executives and staff of the Company.

In 2007 the Company tasks include further enhancement of dependability of energy supply in Republic of Tatarstan, reduction of emergency rate, construction of the new power engineering entities, repairs and reconstruction, realization of national projects.