The Board of Directors Considered Issues, Concerning Preparation for The annual General Meeting of Shareholders

May 26, 2021 15:19

The Board of Directors considered issues, concerning preparation for the annual General Meeting of Shareholders, which will be held on June 23, 2021 in Form of Absentee Voting.

The Board of Directors took note of the annual financial statements of the Company for FY2020 and recommended the annual General meeting of shareholders to approve the following distribution of profits for FY2020. Of the total amount of the balance sheet profit of PJSC Mosenergo for FY2020 in the amount of 14 billion 266 million 153 thousand 274 rubles, the Board of Directors recommended that the shareholders should pay dividends — 7 billion 133 million 022 thousand 598 rubles, leave at the disposal of the Company — 7 billion 133 million 130 thousand 676 rubles. Total dividend payout ratio is 50% of net income of the Company according to Russian Accounting Standards (88% IFRS income for FY2020).

The annual General meeting of shareholders of PJSC Mosenergo was recommended to make a decision on payment of dividends on ordinary shares of the Company for the results of FY2020 in the amount of 0.17945 rubles per share (dividends for FY2019 was amounted 0.12075 rubles per share).

Shareholders were recommended to determine the date of drawing up the list of persons entitled to receive dividends on ordinary shares of PJSC Mosenergo by the results of FY2020 — July 5, 2021 (as at the end of the operating day).

The Board of Directors recommended The General meeting of shareholders to approve the Limited Liability Company «Financial and accounting consultants» («FBK LLC») as an auditor performing audit of accounting and consolidated financial statements of the Company for FY2021.

For reference

PJSC «Mosenergo» comprises 15 combined heat and power stations with installed electric capacity of 12.8 thous. MW, as well as district and block heating stations. Mosenergo heating capacity amounts to 43.8 thous. Gcal/hr. Company power stations supply over 60% of electricity, consumed in Moscow and Moscow Region and cover about 90% of Moscow (not including added territories) demand for heat.

The charter capital of PJSC «Mosenergo» is 39 billion 749 million 359 thousand 700 rubles. The capital is divided into 39 billion 749 million 359 thousand 700 ordinary shares with a nominal value of 1 (one) ruble. The major shareholders are OOO Gazprom energoholding (equity holding — 53.50%) and the city of Moscow represented by Moscow City Property Department (equity holding — 26.45%). The equity holding of other legal entities and individuals is 20.05%.