Annual report 2010

6IDGC Holding and OAO Karachayevo-Cherkesskenergo, which is a related partytransaction.IT WAS RESOLVED AS FOLLOWS:The Agreement for the Retirement of OAO Karachayevo-Cherkesskenergo’sPromissory Notes T hrough t he I ssue of K arachayevo-Cherkesskenergo’s N ewPromissory N ote between OAO K arachayevo-Cherkesskenergo and JSC ID GCHolding, which is a related party transaction (hereinafter, the “Agreement”), shallbe approved subject to the following material terms and conditions:Parties t o t he A greement: OAO K arachayevo-Cherkesskenergo a s thepromisor and JSC IDGC Holding as the promisee;Subject m atter of t he A greement: the obl igations r elated t o the f ollowingpromissory notes issued by OAO Karachayevo-Cherkesskenergo:Promissory NoteIssue DatePromissory NoteAmount (Par Value),rublesDecember 15, 2005 39,200,000.00March 17, 2006 20,800,000.00Promissory NoteMaturity Datepayable at sight but notearlier than August 1, 2006payable at sight but notearlier than August 1, 2006are rep laced t hrough t he i ssue b y OAO K arachayevo-Cherkesskenergo of a newpromissory note with a par value of sixty million (60,000,000.00) rubles payable atsight but not earlier than July 1, 2012;Purchase price of the promissory notes: sixty million (60,000,000.00) rubles.S. I. Shmatko, E. V. Dod, V. M. Kravchenko, V. V. Kudryavy,M. Yu. Kurbatov, S. V. Maslov, S. Remes, S. V. Serebryannikov, O. V. Surikov,V. V. Tatsiy, and V. N. Titov voted “For.”D. V. Fedorov and P. O. Shatsky “Abstained.”N. N. Shvets a nd G . F. Binko, failing t o b e i ndependent directors, did notparticipate in the voting.Approved by a m ajority of votes of i ndependent directors w ho w ere n otrelated parties to the transaction.7. Defining of t he po sition of J SC ID GC H olding (representatives of JSCIDGC Holding) on the item on the agenda of the meeting of the Board of Directorsof OAO IDGC o f the Center and Volga Region: “Tentative approval of OAOIDGC of the Center and Volga Region’s entering into a transaction associated withtransferring title to the property that is fixed assets intended for use other than thegeneration, transmission, dispatching, and distribution of electricity and heat.”IT WAS RESOLVED AS FOLLOWS:Concerning the item on the agenda of the meeting of the Board of Directorsof OAO IDGC of t he Center and Volga Region “The Company’s entering into a