Annual report 2010

21. Procedures f or sel ling non core as sets of J SC I DGC H olding an d JSCIDGC Holding’s subsidiaries and dependent companies.IT WAS RESOLVED AS FOLLOWS:1.1. Note shall be taken of information concerning the procedures forselling noncore assets of JSC IDGC Holding and JSC IDGC Holding’s subsidiariesand dependent companies (Appendix 1).1.2. The Procedure fo r In teraction of JSC I DGC H olding with t heEconomic E ntities Whose Sha res (E quities) A re O wned by JSC ID GC H oldingapproved by the decision adopted by the Board of Directors on August 28, 2008,(Minutes No. 3) (hereinafter, the “Procedure”) shall be amended:1.2.1. the fol lowing w ords sha ll be a dded t o su bsubparagraph (l ) ofparagraph 2.3 of the Procedure after the words “rubles”: “, and connected with thedisposal of the above-mentioned property, irrespective of its book value or marketvalue, if such disposal is made without competitive bidding procedures or withoutcompensation (except f or t he di sposal w ithout c ompensation w ith r espect t opublic utility facilities and systems)”;1.2.2. the f ollowing w ords sha ll be a dded t o s ubsubparagraph (m) ofparagraph 2.3 of the Procedure after the words “rubles”: “, and connected with thedisposal of the above-mentioned property, irrespective of its book value or marketvalue, if such disposal is made without competitive bidding procedures or withoutcompensation ( except f or t he d isposal w ithout c ompensation w ith r espect t opublic utility facilities and systems).”S. I. Shmatko, N. N. Shvets, S. R. Borisov, V. A. Gulyaev,V. M. Kravchenko, V. V. Kudryavy, G. P. Kutovoy, S. V. Maslov, S. Remes,S. V. Serebryannikov, V. V. Tatsiy, A. P. Terekhov, V. N. Titov, and I. V. Khvalinvoted “For.”Approved unanimously.2. Report on JSC IDGC Holding’s financial and economic activities for thefirst half of 2010.The i ssue w as reviewed by a meeting of t he M anagement Bo ard of JSCIDGC Holding and the Strategy Committee of the Board of Directors of JSC IDGCHolding in accordance with paragraph 13.2.2 of the Articles of Association of JSCIDGC Holding. In accordance with paragraphs 11.1.30 and 14.3.12 of the Articlesof Association of JSC IDGC Holding, the issue shall be considered by a meeting ofthe Company’s Board of Directors.Based on the performance results for the first half of 2010, the subsidiariesand dependent companies of JSC IDGC Holding received total revenues (includingconnection fe e re venues) of 262,057 million ru bles, which is 87 7 m illion r ublesmore t han the target figure. Total p roduction c osts were 229,896 million rubles(95.8% of t he t arget fi gure). Cost p rice-based c ost saving t otaled 10,127 millionrubles, or 4% of the target figure.