Annual report 2010

25. Amendments to the decision adopted by the Board of Directors of JSCIDGC H olding on M arch 4, 2010, (Minutes No. 28) concerning “JSC ID GCHolding’s transferring title to 25% + 1 share in OAO Bureyagesstroy.”6. Approval of an agreement for the purchase and sale of 25% + 1 share inOAO Bureyagesstroy between JSC IDGC Holding and JSC RusHydro, which is arelated party transaction.7. JSC IDGC Holding’s transferring t itle t o 2 5% + 1 share in O AOChirkeygesstroy.8. Approval of an agreement for the purchase and sale of 25% + 1 share inOAO Chirkeygesstroy between JSC IDGC Holding and JSC RusHydro, which is arelated party transaction.1. Report on t he Company’s fi nancial and economic activities for t he 1stquarter of 2010.The item was given consideration by a meeting of t he Management Boardof JSC IDGC Holding pursuant to paragraph 13.2.2 of the Articles of Associationof JSC I DGC H olding. Upon app roval by t he Management Board of JSC ID GCHolding, t he issue sha ll be gi ven c onsideration b y a me eting o f the Company’sBoard of Directors pursuant to paragraphs 11.1.30 and 14.3.12 of the Articles ofAssociation of JSC IDGC Holding.In t he 1st qua rter o f 2 010, s ubsidiaries a nd de pendent c ompanies of JSCIDGC H olding re ceived t otal re venues (i ncluding c onnection fee re venues) o f137,689 million rubles, or 378 million rubles less than the target figure. Productioncosts t otaled 123,140 million ru bles (9 7% of t he t arget f igure). C ost p rice-basedcost saving totaled 3,858 million rubles, or 3% of the target figure.million rublesPlan Actual DeviationTotal net profit, including 2,381 6,293 3,912- from electricity transmission and other 510 3,601 3,091operating activities- from network connections 1,870 2,692 822JSC IDGC Holding’s aggregate net profit for the 1st quarter of 2010 was6,293 million rubles, while a net profit of 2,381 million rubles had been planned(up by 3,912 million rubles). This amount includes the Company’s profit of 3,601million rubles from electricity transmission, with a planned net profit equal to 510million rubles. The better than planned net profit result was primarily due to costprice-based saving (3,858 million rubles) connected with a deferral of costs.IT WAS RESOLVED AS FOLLOWS:The report on the Company’s financial and economic activities for the 1stquarter of 2010 shall be approved (Appendix 1).