“Enel OGK-5” General Shareholders’ Meeting approves 2010 financial statements and approints new board of directors

The main issues in agenda were the approval of the Company’s annual report for 2010, approval of the annual financial statements including the profit and loss statement (profits and losses accounts) of the Company, approval of the Company’s profit distribution upon the results of the year 2010, size, term and form of the dividends payment upon the results of 2010, election of the members of the Company’s Board of Directors, election of the members of the Company’s Internal Audit Commission, approval of the Company’s Auditor, approval of an amended version of the Company’s Bylaws.
The General Annual Shareholders’ Meeting approved annual report for 2010 and annual financial statements of the Company for 2010. OJSC “Enel OGK-5” net profit for the year 2010 in accordance to Russian Accounting Standards totaled 5 826 million rubles, 3 255 million higher than the value posted in the previous year (+127%).
Acting on a proposal of the Board of Directors, the Shareholders’ meeting approved the decision not to pay dividends for financial year 2010, allowing allocating funds to create reserves and to finance investments in 2011.
Enel OGK-5 CEO Enrico Viale stated: “In 2010 Enel OGK-5 posted excellent results, which confirm the solidity of the company’s financial and management strategy. Such results enable us to finance implementation of the recently-approved five year-business plan. This allow us to look at the future with a high degree of confidence, as we expect to deliver further profitability to all our shareholders through the fulfillment of our strategic program for growth and investments.”

The Shareholders’ Meeting also approved the amended version of the Policy on payments and remuneration to the members of the Board of Directors.

The Shareholders’ Meeting of OJSC “Enel OGK-5” elected the new Board of Directors composed by 11 members:
1. Viacheslav Yurievich Artamonov
2. Maria Gennadievna Tihonova
3. Alexander Sergeevich Yugov
4. Dominique Fache
5. Enrico Viale
6. Carlo Tamburi
7. Marco Pierro Arcelli
8. Giulio Antonio Carone
9. Gerald Joseph Rohan
10. Sergey Vladimirovich Marinich
11. Renato Mastroianni
The Shareholders’ Meeting of OJSC “Enel OGK-5” elected the new Internal Audit Commission of the Company and appointed LLC “Ernst & Young” as the Company’s Auditor for 2011. The Shareholders’ Meeting also elected the new Internal Audit Commission of the Company and approved the revised version of the Company’s Bylaws, reflecting mandatory law provisions and amendments to the additional competence of the Company's Board of Directors. The Shareholders’ Meeting also approved a number of related-party transactions in the area of energy trading which can be concluded in the future in the process of the Company performing its ordinary economic activity.
OJSC OGK-5 was registered in Yekaterinburg on October 27, 2004. On July the 7th of 2009 OJSC OGK-5 was rebranded to OJSC Enel OGK-5 by the decision of the General Shareholders’ Meeting.
The production affiliates of Enel OGK-5 are: Konakovskaya GRES, Nevinnomysskaya GRES, Sredneuralskaya GRES and Reftinskaya GRES. The total installed capacity of the company’s production assets is 8772 MW for electric power, and 2412 GCal/h for heat.
The share capital of Enel OGK-5 totals 35,371,898,370 roubles and is divided into ordinary shares with the nominal value of 1 rouble. The stake of Enel Investment Holding B.V. in the share capital of the company is 56,43%, the stake of OAO INTER RAO UES - 26,43%, the stake of minority shareholders – 17,14%. Enel OGK-5’s shares are listed in Quotation Lists A1 of MICEX and A2 of RTS.