OREANDA-NEWS. June 21, 2011. Yekaterinburg (Ural Federal District, Russia) -IDGC of Urals, (RTS and MICEX: MRKU) reports on the results of BoD session.

June 15, 2011 saw an in-absentia BoD meeting that decided over a range of managing and corporate issues, including:

Approval of a Company's underwriter

The Board of Directors approved Rosgosstrakh, OOO as the underwriter for insuring civil liability that may occur in case of damages due to faults in project documentation influencing the site security.

Approval of a 2010/2011 autumn-winter operations report

The BoD approved a 2010/2011 autumn-winter operations report. The operations during the period were completed successfully. Our staff prepared various institutional arrangements, rehearsed joint anti-incident trainings arranged with regional EMERCOM bodies, municipal and regional authorities as well as other grids owners.

Nomination for state awards

The Board of Directors decided to nominate Valery Nikolayevich RODIN, the CEO of IDGC of Urals, for a state award "Merited Power Engineer of the Russian Federation".

Approval of a 1Q 2011 business plan completion report

The BoD approved a 1Q 2011 business plan completion report. According to the report the overall revenues as of 1Q 2011 totaled RUR 14 927.7 mln, expenses - RUR 13 626.8 mln, net profit - RUR 896.0 mln. Energy supply totaled 21 136 mln kWh, productive supply - 18 911.0 mln kWh, losses - 2 225 mln kWh.

Determination of the Company's (representatives') positions on agenda issues of the GSM and BoD sessions of the SAC

The BoD entrusted its representatives at EESK and EES on BoD agenda issues to vote "For" while adopting resolutions on the approval of 1Q 2011 KPI completion reports and 1Q 2011 business plan (including investment program) completion reports.