OREANDA-NEWS. December 14, 2012. Meeting in regular session, the Board of Directors of RUSNANO approved the financing plan for the company for calendar year 2013. The plan calls for RUSNANO to invest 38.3 billion rubles to facilitate production of nanotechnology products. Also in 2013, RUSNANO will spend 13.6 billion rubles to service long-term investment credits and loans it has drawn under guarantees of the Government of the Russian Federation.

The Board of Directors approved a maximum debt position for RUSNANO of 153 billion rubles. That sum conforms to government guarantees extended to the company for 2010 through 2012 and incorporated into the 2013 budget of the Russian Federation.

Members of the Board of Directors endorsed the draft strategy for RUSNANO through 2020. It directed the Executive Board of the company to present the final text of the document for its consideration after discussing the plans with investors who will become shareholders as a result of the private placement of 10% of the shares of RUSNANO.

In other action, the Board of Directors heard a presentation on the closing of nine investment projects that had formerly been approved for financing but in which RUSNANO had made no investments:

Weatherproofing and antifriction construction materials based on nanomodified polytetrafluorethylene (PTFE)

High-power, high-performance laser sources of coherent radiation

Memory modules

A Pre-IPO fund to invest resources in innovative and rapidly growing companies contemplating IPOs or attracting private strategic investors in the next one to three years

Lighting products based on powerful semiconductors light sources

Solar electric units

Epitaxially polished sapphire and silicon carbide substrates for LED and microwave nanoheterostructures

Center for development of compact industrial computers

EuroTech Transfer: European venture fund for technology transfer

The most frequently occurring bases for closing these projects:

Inability or unwillingness of the applicant and/or co-investors to assume responsibilities for realizing the projects

Decision not to undertake joint realization of projects due to serious worsening of market conditions or disagreement with RUSNANO’s prerequisites for financing the project, including the presence of co-investors

Realization of the EuroTech Transfer project, the European venture fund for technology transfer, has been assigned to the fund RUSNANO Capital AG.

The Board of Directors heard management’s report on anticorruption measures that have been implemented within the company. They include clearly delineated mechanisms for reviewing funding requests and processes for decision making on project financing. The company will continue efforts to perfect its anticorruption system, in particular looking at the selection of experts in the pre-investment stage, monitoring and control of asset valuation reports, and declaring interest in employee participation in the authorized capital of portfolio companies.

Also during the meeting, management presented information on progress in fulfilling several projects that had been approved earlier by the Board of Directors of RUSNANO.

As provided in the RUSNANO’s charter, the Board of Directors considered the combined appointments of members of the Executive Board of the company with obligations in management bodies of other organizations and endorsed them.

The Board of Directors approved a transaction with RUSNANO Israel Ltd. in which Deputy Chairman of the Executive Board of RUSNANO Yakov Urinson, a member of the Board of Directors of RUSNANO Israel, is an interested party.

Finally, the Board of Directors approved release of information confirming that the balance sheet of RUSNANO contains no non-core assets. That information will be placed on Russia’s Interdepartmental Portal for Management of Government Property.