Annual report 2010

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JSC IDGC Holding. Annual Report 2010Auditors’ Report on the Accounting Statements of JSC IDGC Holding for 20102TO THE SHAREHOLDERSAUDITEE INFORMATIONName: JSC Interregional Distribution Grid Companies Holding(JSC IDGC Holding)State Registration Number: 1087760000019Registered address: 117630, Moscow, ul. Akademika Chelomeya, 5AAUDITOR INFORMATIONName: FinExpertiza Limited Liability Company (OOO FinExpertiza)State Registration Number: 1027739127734Registered address: Russian Federation, 129110, Moscow, Prospekt Mira, 69, str. 1Name of the self-regulatory organization of auditors: Auditor Chamber of Russia(Certificate No. 4209 issued on December 28, 2009)Number on the Register of Auditors and Audit Organizations of the of the self-regulatoryorganization of auditors: 10201028038We have audited the accompanying accounting statements of JSC IDGC Holding that consist of:Ø Balance Sheet as of December 31, 2010;Ø Profit and Loss Statement for 2010;Ø Statement of Changes in Capital for 2010;Ø Cash Flow Statement for 2010;Ø Other appendices to the Balance Sheet and the Profit and Loss Statement;Ø Explanatory Note.RESPONSIBILITY OF THE AUDITEE FORACCOUNTING STATEMENTSManagement of JSC IDGC Holding is responsible for the preparation of these accountingstatements in accordance with the rules applicable to the preparation of accounting statementsand for the internal control system necessary to prepare accounting statements thatare free of material misstatements arising out of unfair acts or errors242
22. AppendicesAuditors’ Report on the Accounting Statements of JSC IDGC Holding for 20103RESPONSIBILITY OF THE AUDITOROur responsibility is to express, based on the conducted audit, an opinion on the reliabilityof accounting statements.We conducted our audit in accordance with federal auditing standards. These standardsrequire compliance with applicable ethics and lay down that audits should be so plannedand carried out as to obtain reasonable assurance about whether accounting statements arefree of material misstatements.The audit included the auditing procedures aiming to obtain auditor evidence supportingthe amounts and disclosures in the accounting statements. The selection of the auditingprocedures is at our discretion based on assessing the risk of material misstatements arisingout of unfair acts or errors. In the course of assessing this risk, we examined the internalcontrol system employed to prepare the accounting statements and ensure their reliabilitywith the aim of selecting the appropriate auditing procedures rather than expressingan opinion on the efficiency of the internal control system.The audit also included assessing whether the suitable accounting policy was applied andwhether the estimates were valid and evaluating the overall accounting statement presentation.We believe that the audit evidence obtained by our audit provides a reasonable basis forour opinion on the reliability of the accounting statements.OPINIONIn our opinion, the accounting statements present fairly, in all material respects, the financialposition of JSC IDGC Holding as at December 31, 2010, and the results of its financialand economic operations and its cash flows for 2010 in accordance with the rulesapplicable to the preparation of accounting statements.Project ManagerGeneral, Insurance and Investment Audit DepartmentOOO FinExpertizaActing under Power of Attorney No. 184-07/10of July 1, 2010; valid until June 30, 2011Auditor Qualification License No. K005166General Registration Number on the Register of Auditors: 29701044832I. Yu. Makhova243
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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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Veliky Novgorod
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Kaliningrad
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Izhevsk
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Ulyanovsk
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Kislovodsk
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Omsk
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Stavropol Territory
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Ekaterinburg
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Sochi
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Page 248 and 249: Date and place of birthNationalityJ
Page 250 and 251: Education, academic degree (if any)
Page 252 and 253: Date ofTaking OfficeinManagementBod
Page 254 and 255: 2010 JSC IDGC Holding2010 JSC FGC U
Page 256 and 257: 2010 JSC IDGC HoldingMember of the
Page 258 and 259: Moscow State Pedagogical University
Page 260 and 261: Period of Employment Entity Name an
Page 262 and 263: 1. Experimental Nuclear Physics2. B
Page 264 and 265: Date ofTaking OfficeinManagementBod
Page 266 and 267: Positions held over the past 5 year
Page 268 and 269: Regulations for the Convening and H
Page 270 and 271: Regulations for Information Policy
Page 272 and 273: 9 3.1 Chelyabinskoye Branchof Sberb
Page 274 and 275: 36(39510) 4-00-764.24 Shelekhovskoy
Page 276 and 277: 66 4.54 KrasnokamenskoyeBranch of S
Page 278 and 279: 92 5.23 Krasnoyarskoye CityBranch o
Page 280 and 281: 121 6.2 Tenkinskoye Branch ofSberba
Page 282 and 283: 5053146 6.26 Megino-KangalasskoyeBr
Page 284 and 285: 175 8.2 Tatarstan Bank Branch ofSbe
Page 286 and 287: 201 10.18 Solikamskoye Branch4929/0
Page 288 and 289: 227 10.43 Usinskoye Branch ofSberba
Page 290 and 291: 257 11.18 Orlovskoye Branch ofSberb
Page 292 and 293: 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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Annual report 2010

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