OREANDA-NEWS. August 19, 2015. The Board of Directors approved the Regulation on Key Performance Indicators of the RUSNANO Open Joint-Stock Company. The document was elaborated pursuant to the instructions of the President and the Government of the Russian Federation given to organizations and companies where public share in the authorized capital exceeds fifty percent.

The KPI list includes sectoral indicators approved in the RUSNANO Strategy (nanotechnological products sales proceeds, number of new productions and R&D centers, third party investment value raised), as well as financial, economic and other indicators mandatory for joint-stock companies with public ownership.

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The new edition of the Regulation on Financing Procedures and Conditions for Investment Projects of RUSNANO OJSC was approved at the meeting. In particular, the document reflects the requirements to international investment projects and their efficiency evaluation elaborated pursuant to the instructions given by Arkadiy Dvorkovich, Deputy Chairman of the Government of the Russian Federation.

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The Board of Directors resolved to recommend that the general RUSNANO shareholders meeting approves KPMG JSC as an auditor for the statutory annual audit of RUSNANO OJSC accounts and RUSNANO Group consolidated statements for 2015 according to the international standards (IFRS).

It was recommended that the general shareholders’ meeting approves a new edition of the Charter of RUSNANO OJSC. In particular, it is proposed to bring the Charter of RUSNANO OJSC in compliance with the new edition of the Civil Code of the Russian Federation, and to supplement the authorities of the Board of Directors with the approval of risk management and internal audit policies, and the control of efficiency of implementation of same in accordance with the recommendations of the Corporate Governance Code.

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Furthermore, the Board of Directors of RUSNANO provisionally approved the 2014 Annual Report of the company, which will, in accordance with the Federal Law “On Joint-Stock Companies”, be submitted for the approval to general RUSNANO shareholders’ meeting. The Board of Directors’ recommendations include among others: to refrain from allocating profit, and from declaring and paying dividends at 2014 year end.

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In addition, the Board of Directors approved a number of transactions between RUSNANO OJSC and the Fund for Infrastructure and Educational Programs, which are affiliate-related due to the members of RUSNANO Board of Directors entering in the Executive Board and Supervisory Council of the Fund. The subject of the transactions is office, machinery lease and furniture rent.