OREANDA-NEWS. June 10, 2010. ОАО "IDGC of Urals" (RTS and MICEX: MRKU) reports on the results of BoD session.
 
Approval of candidates for the Company's underwriter positions
The Company's BoD approved ZAO "Insurance Group "Uralsib" as an underwriter insuring rented property against fire and other disasters.
 
Approval of the Company's collective agreement for 2010 - 2011
The Company's BoD approved a new 2010-2011 collective agreement taking effect on 01.07.2010. This new single document will enable ОАО "IDGC of Urals" to pursue a single HR policy and to establish single payment system for Permenergo, Sverdlovenergo and Chelyabenergo personnel.
 
Determination of the Company representatives' positions on agenda issue of the GSM and BoD sessions of the SACs

The BoD entrusted the IDGCU's representative to vote "FOR" while adopting the following resolutions:

1)   To approve a report on the completion of 1Q 2010 EESK business plan (including investment program).

2)   To take into consideration an EESK report on the completion of 1Q 2010 insurance coverage program.
 
Approval of the Company's internal documents
The BoD approved the Risk Management Policy and Internal Control Policy in OAO "IDGC of Urals" elaborated to develop and perfect internal control and risk management systems. The documents determine basic principles of administration, implementation and control of risk management processes as well as basic principles of internal control administration, obligatory for observance. These documents are based on the best global practices of the risk management in energy sector and use statements from fundamentals of risk management (COSO ERM), ISO/IEC Guide 73:2002 as well as other generally accepted risk management documents.