OREANDA-NEWS. January 5, 2012. Yekaterinburg (Ural Federal District, Russia) -IDGC of Urals, OAO (RTS and MICEX: MRKU) reports on the results of BoD session.

December 28, 2011 saw an in-absentia BoD session that decided over a range of managing and corporate issue, including:

Determination of the Company's (representatives') positions on agenda issues of the GSM and BoD sessions of the SACs

The BoD entrusted the Company's representatives at ESCU on BoD agenda issues to vote "FOR" while adopting resolutions on the approval of 3Q 2011 business plan completion report.

Approval of the Company's underwriter

The Board of Directors approved Insurance Joint-Stock Company Energogarant, OAO as the Company's underwriter (insurance category - obligatory motor insurance).

Review of a report on non-core SAC management in 3Q 2011

The Board of Directors approved a report on non-core SAC management in 3Q 2011. The SAC financial results are as follows:

Indicators, RUR thous.

Uralenergotrans, ООО

Energy Service Company of the Urals, ОАО

 

SK Privat-Energostrakh, ZAO

SB Permenergo, ООО

Revenues

1 399 849

6 725

6 859

0

Net loss

-24 138

- 5 363

-4 197

-2 895

Payables

209 333

4 926

3 852

1 969

Receivables

286 794

13 377

2 346

1 330

Grand total

467 005

15 824

6 713

15 936

Non-current assets

167 507

2 848

529

12 916

Withdrawal from SK Privat-Energostrakh, ZAO

After analysis of SK PES operations and due to the lack of necessity to restore its operations the Board of Directors adopted a resolution on the withdrawal from SK PES, ZAO by sale. The target period for the transaction is 1H 2012.

Approval of the Company's 9M 2011 business plan completion report

The BoD approved a report on 9M 2011 business plan completion. The 9M 2011 RAS results are as follows:

Revenues

RUR thous.

39 879 956,9

Expenses

RUR thous.

36 168 980,8

Operating profit

RUR thous.

3 710 976,1

Pre-tax profit

RUR thous.

2 604 703,9

Net profit

RUR thous.

2 338 645,6