Annual report 2010

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JSC IDGC Holding. Annual Report 201021.2. Financial Management21.2.1. Financial Management of JSC IDGC HoldingThe Company’s financial management employsthe following methods and techniques: forecastingand planning, financing, regulation andauthorization of financing activities, financialsettlement supervision, etc.The Company’s financial management appliesdirectly to cash flow and financial resources(internal and borrowed funds). JSC IDGC Holdingdid not borrow in 2010.achieving the maximum effectiveness of financialinvestments with the optimized risk to returnratio. The maximum return on financial investmentswas attained through depositing temporarilyavailable funds in Russia’s largest financial andcredit institutions, which have a high level of reliability,at the highest possible interest rates(market-average or above).JSC IDGC Holding’s management of temporarilyavailable funds was based on the principle ofAssets of JSC IDGC HoldingThe book value of the Company’s assets as ofDecember 31, 2010, is assessed at RUB 199.3 billion.Since January 1, 2010, the asset value hasgrown by RUB 56.3 billion (by 39%). Net assetvalue was RUB 191 billion.Long-term financial investment is the highestpercentage of the Company’s total assets(91.3%). Fixed assets and construction-inprogressaccount for 0.87%; total accountsreceivable, 3.46%; cash and short-term financialinvestment, 4.24%.Changes in the structure of noncurrent assets versus2009 are characterized by the grown percentageof long-term financial investments (0.8%) andminor growth of the percentage of fixed assets andconstruction-in-progress (0.32%). As of the fiscalyear end, the value of long-term financial investmentsgrew by RUB 52.5 billion (40.6%) to RUB181.9 billion. They include investment in theauthorized capitals of organizations and contributionsunder partnership agreements. The year-endsum of fixed assets and construction-in-progressgrew by RUB 27.4 million. The value of fixed assetsgrew by RUB 19.6 million and construction-inprogressincreased by RUB 7.8 million.In 2010, the structure of current assets was characterizedby changes in the percentage of cashand short-term financial investments in currentassets (54%). Absolutely liquid assets of theCompany in the fiscal period were RUB 8.45 billion.Accounts receivable as a percentage in theworking capital decreased by 32 percentagepoints. The aggregate accounts receivable ofcompanies decreased by RUB 2,125 million, or23.6%, whereas long-term accounts receivablegrew by RUB 765 million and short-term accountsreceivable during the year decreased by RUB 2,890million. A decrease in short-term accounts receivablewas caused by the redemption of non-interest-bearingnote of MOESK worth RUB 2.25 billion.In the fiscal year, the share of inventories incurrent assets grew by 70.4% to 0.4%. The percentageof Value Added Tax on purchased assetschanged slightly from 2.14% to 1.63%.202
21. Business Planning and Financial ManagementStructure of JSC IDGC Holding assetsStructure JSC IDGC Holding liabilitiesLiabilities of JSC IDGC HoldingIn 2010, the share of equity in the Company’stotal liabilities decreased by 3.96%. At the sametime, in absolute terms, the value of equity grewby RUB 48,296.4 million. In 2008–2009, theCompany’s undistributed profit was RUB 97,399.2million. In 2010, the value of undistributed profitwas RUB 48,296.4 million. Increment derives primarilyfrom the adjustment of shares at the currentmarket value of RUB 46,762 million.The breakdown of the Company’s liabilitieschanged year-on-year. In the fiscal year, longtermliabilities (valued at RUB 94.96 million)accounted for 1.1% of liabilities; in 2009, 37.4%.203
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JSC IDGC Holding. Annual Report 201
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Kirovsk
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Moscow
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Krasnodar Territory
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Novorossiysk
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Kaliningrad
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Izhevsk
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Ulyanovsk
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Kislovodsk
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Page 248 and 249: Date and place of birthNationalityJ
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2010 JSC IDGC Holding2010 JSC FGC U
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2010 JSC IDGC HoldingMember of the
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Moscow State Pedagogical University
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Period of Employment Entity Name an
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1. Experimental Nuclear Physics2. B
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Date ofTaking OfficeinManagementBod
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Positions held over the past 5 year
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Regulations for the Convening and H
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Regulations for Information Policy
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9 3.1 Chelyabinskoye Branchof Sberb
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36(39510) 4-00-764.24 Shelekhovskoy
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66 4.54 KrasnokamenskoyeBranch of S
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92 5.23 Krasnoyarskoye CityBranch o
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121 6.2 Tenkinskoye Branch ofSberba
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5053146 6.26 Megino-KangalasskoyeBr
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175 8.2 Tatarstan Bank Branch ofSbe
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201 10.18 Solikamskoye Branch4929/0
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227 10.43 Usinskoye Branch ofSberba
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257 11.18 Orlovskoye Branch ofSberb
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288 11.49 Ust-LabinskoyeBranch of S
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31731831912.9 Pavlovskoye Branch of
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341 12.33 ZemetchinskoyeBranch of S
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36712.59 Yenotaevskoye Branchof Sbe
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391 12.85 SengileevskoyeBranch of S
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415 13. Severo-Zapadny HeadOffice19
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436 14.15 Kurilskoye Branch ofSberb
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459 16.2 AleksandrovskoyeBranch of
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488 17.4 Zavodoukovskoye627140 Tyum
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22.9. Information Concerning Compli
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Company’s Board of Directors.6 No
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12 The articles of association of t
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18 Internal documents of the joint-
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26 The board of d irectors has es t
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of suc h c ompany’s boa rd of di
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45 Internal documents of the joint-
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of d irectors o f th e jo int-stock
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64 The board of directors has appro
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75 The audit committee evaluates th
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Amendments to Certain Legislative A
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May 26, 2010 12-2296 Concerning the
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July 19, 2010 5-3138 The instructio
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07/13909) concerning the implementa
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January 20, 2010 10-147 The instruc
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Government of the Russian Federatio
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separate divisionSeptember 7, 2010
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Russian Federation (Tsarikovsky, AT
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2production pl ant l ocated at : Re
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4in OAO IDGC of t he Urals Training
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6- as a member of t he Board of Dir
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8S. I. Shmatko, N. N. Shvets, G. F.
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28. Defining of the position of JSC
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46. Defining of the position of JSC
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6OAO Nurenergo as the SellerSubject
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M I N U T E Sof the Meeting of the
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3billion, nine hundred twenty-two m
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52.1.12. The c ost estimate i n rel
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75.2.1. Organize t he i mplementati
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9Any holder of the Bonds shall also
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11Payment for the placed Bonds shal
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13value and accrued coupon income r
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1511.2. Member of the Board of Dire
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22. Approval of annual accounting s
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3. AlexanderMikhailovichKuryanov4.
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27. Approval of proprietary informa
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4V. M. Kravchenko did not participa
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67. Approval of proprietary informa
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8Dispute resolution:Any dispute, co
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10to the expiration date, the agree
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12If either party causes any damage
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14upon the terms and conditions gov
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167.10. The proprietary information
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18Any amendments and supplements to
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20early termination or expiration o
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22The D isclosing Party pr ovides a
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24S. I. ShmatkoChairman of the Boar
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21.2. The t ime of t he a nnual Gen
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4Holding.1.15. It shall be specifie
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31.5. The estimate of costs relatin
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57.1. The Report of the Management
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3S. I. Shmatko, N . N. Shvets, G .
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25. Approval of t he A greement for
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43. Approval of the Agreement for t
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6IDGC Holding and OAO Karachayevo-C
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852:18:05 00 00 :0000:04898:V, whic
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10M. Yu. Kurbatov “Abstained.”O
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12S. I. ShmatkoChairman of the Boar
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2At t he s uggestion of m ember of
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43. THE FOLLOWING PERSON WAS HEARD:
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3IT WAS RESOLVED AS FOLLOWS:3.1. No
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M I N U T E Sof Meeting of the Boar
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3- Scientific a nd T echnical C oun
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5- OAO Kubanenergo (member of the B
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7• registered ordinary shares (st
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3S. I. Shmatko, N. N. Shvets, V. A.
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5Conditions f or t he Pl acement of
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75. Amendments to the decision adop
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98.2. The related party transaction
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2assets a nd construction-in-progre
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4- quantity of the sha res held by
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6kopecks;- book value of the stake
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84. Approval of t he A greement to
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10IT WAS RESOLVED AS FOLLOWS:7.1. N
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12Approved by a majority of votes.8
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3S. I. Shmatko, N. N. Shvets, S. R.
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22.7. Formation of t he Investment
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Approved unanimously.42.5. Review o
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6IT WAS RESOLVED AS FOLLOWS:The dec
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3- acquisition method: through bidd
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2Agenda1. Review of the consolidate
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4Review of the report on the implem
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3rubles in millionsPlan Actual Devi
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3S. V. Serebryannikov, V. V. Tatsiy
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5connection with mobilization train
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ubles7rubles1. Below 10,000,0002. 1
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911. Defining of the position of JS
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3S. I. Shmatko and V. V. KudryavyIT
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5S. I. Shmatko, N. N. Shvets, S. R.
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73.1. The pow ers o f Secretary of
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21.2. The agreement for contributin
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3Term of t he A greement: the A gre
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3associated with transferring title
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5Note sha ll be taken of i nformati
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Budget of theconstituent entity oft
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3Volga’s real property and acquir
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5United E lectric G rid C ompany, w
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77. Approval of the a greement fo r
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9hundred seventy-eight thousand, th
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JSC INTERREGIONAL DISTRIBUTIONGRID
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ased on t he fi rst p hase i mpleme
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2.4. It s hall be recommended t o t
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It was resolved as follows:1.1. Not
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2.2. The Head of the Department for
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Seppo RemesChairman of the Audit Co
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Agenda1. THE FOLLOWING PERSON WAS H
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6. THE FOLLOWING PERSONS WERE HEARD
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INVESTMENT COMMITTEEOF THE BOARD OF
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2. Prior to December 22, 2010, the
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2. Note sha ll be t aken o f t he c
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Nomination and Remuneration Committ
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Schedule (Yearly)” (Appendix 2.2
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Nomination and Remuneration Committ
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Voting results:“FOR” - 11 perso
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two (2,019,892,442) 4 additional un
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Issue 5: Approval of the Decision o
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E. V. DodChairman of the Strategy C
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Issue 1: Determination of the posit
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The va lue of the s ervices p rovid
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Pavel Vladilenovich Golubev - Head
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Voting results:“FOR” - 8 person
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1. R epresentatives of J SC ID GC H
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Voting results:“FOR” - 11 perso
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Ballots attached.V. M. KravchenkoCh
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Due to that this is sue was referre
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M. Yu. Kurbatov, member of the Comm
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VARIANT 2. Transfer of one or more
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Voting results:“FOR” - 9 person
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Issue 1: Purchase of a dditional or
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It shall be recommended to the Boar
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Subject matter of the Agreement:The
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VALUATION COMMITTEEof the Board of
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“ABSTAINED” - 2 votes (E. V. Pe
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IT WAS NOTED AS FOLLOWS:1. Need to
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