Agreement with PJSC â€œFGC UESâ€Source: RNS
Transfer of authorities of the sole executive body of PJSC "FGC UES" to PJSC "ROSSETI"
18 May 2020. Moscow, Russia. - PJSC ROSSETI (LSE: RSTI) (the "Company"), the largest electricity transmission and distribution grid company in Russia, announces that in accordance with the decision of the Annual General Shareholders Meeting of PJSC "FGC UES" (a Subsidiary of the Company) held on 15 May 2020, decisions of the Boards of Directors of the Company and PJSC "FGC UES" both held on 15 May 2020, the authorities of the sole executive body of PJSC "FGC UES" has been transferred to PJSC "ROSSETI" and an agreement on a delegation of authorities has been signed.
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For further information:
Maria Stepanova +7(495) 995 5333 (ext. 3961)
Yulia Martynova +7(495) 995 5333 (ext. 3834)
Maria Novokreschenova +7(495) 225 0335
Yaroslav Gryaznov +7(495) 225 0335 (ext. 1010)
Public Joint Stock Company ROSSETI (PJSC ROSSETI) is one of the largest electric grid companies in the world. The Company manages 2.37 million kilometers of power lines and 517,000 substations with more than 802 GVA of transformer capacity.
ROSSETI comprises 34 subsidiaries and dependent companies, including 15 interregional and regional grid companies and one transmission grid company. The controlling shareholder with an 88.04% stake in the Company is the government represented by the Federal Agency for State Property Management of the Russian Federation.
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of PJSC ROSSETI. You can identify forward-looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might", the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industry, as well as many other risks specifically related to PJSC ROSSETI and its operations.
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