The Board of Directors of the PJSC TNS energo Group of Companies holds meeting

TNS energo Group of Companies Source: Press Service of the TNS energo Group of Companies 20 april 2015

On 17 April 2014 the Board of Directors of the PJSC TNS energo Group of Companies held a meeting. At the meeting, the annual report and financial statements of the PJSC TNS energo Group of Companies for the 2014 financial year were approved in advance, for review by the annual General Meeting of Shareholders.

At the end of 2014 the net income of the PJSC TNS energo Group of Companies amounted to 1.8 billion rubles.

The total amount of dividends due and payable as recommended by the Company’s Board of Directors exceeded 600 million rubles. It was suggested to pay 43 rubles 90 kopecks per ordinary nominal uncertified share.

As collateral for its obligations under the loan agreement entered into with RCB BANK LTD, the PJSC TNS energo Group of Companies has pledged the ordinary and preferred shares of the Voronezh Energy Retail Company, the Yaroslavl Energy Retail Company, the Nizhny Novgorod Energy Retail Company, the Mari El Energy Retail Company, together with the ordinary shares of the Karelia Energy Retail Company, Energosbyt Rostovenergo and the Tula Energy Retail Company.

FinExpertiza Otsenka LLC has been appointed by the Company’s Board of Directors as the independent appraiser of the pledged property, to determine the market value of the ordinary nominal uncertified shares of the PJSC TNS energo Group of Companies.

At the meeting, the annual General Meeting of Shareholders of the PJSC TNS energo Group of Companies was set for 18 June 2015.

Recall that the Company’s Board of Directors was updated, in November 2014, by the decision of an extraordinary General Meeting of Shareholders, on the inclusion of representatives from the banking sector (VTB Group and Alfa-Bank) together with two independent representatives – the investment specialist (D. Hurn) and the legal expert (A. Sitnikov) into the Board.

Current members of the Board of Directors of the PJSC TNS energo Group of Companies:

1. D. A. Arzhanov, General Director of the OJSC TNS energo Group of Companies;

2. A. V. Zalevsky, Head of the Corporate and Investment Business of RCB BANK LTD;

3. A. I. Rubanov, President of AZ LLC;

4. A. A. Sitnikov, Managing Partner at CJSC Legal and Tax Advice Related to the Legislation of the CIS Countries, VEGAS-LEX;

5. D. Hurn, Managing Director of the Representative Office of LLC Specialised Research Limited, Moscow;

6. A. V. Shurkin, Director of the Department for Fuel and Energy Enterprises, OJCS Alfa Bank;

7. B. V. Schurov, First Deputy General Director of the OJSC TNS energo Group of Companies.