The Annual General Meeting of Shareholders of Kubanenergo PJSC (renders services under the brand “Rosseti Kuban”) took place on 20 June 2019 in Krasnodar. The shareholders look back on the last financial year and sum up the results of operating activities in 2018.

At the meeting, it was noted that in the reporting period, Rosseti Kuban continued its commitment to sustainable development, providing high-quality and affordable services for reliable and safe power supply to consumers and developing its infrastructure. In 2018, the Company’s net profit exceeded 150 million rubles and commissioned more than 350 MVA of total capacity, as well as installed almost 600 km of new power lines.

The Company’s Board of Directors reported on its activity on implementation of the Digital Transformation 2030 concept, adopted by Rosseti Group of Companies as the basis for development of the electric grid complex. In particular, in 2018, specialists from Rosseti Kuban constructed a unique power facility in the Krasnodar region – a 220 kV digital substation “Port”, which is designed to supply the facilities of the dry cargo area of ??the sea port “Taman”, and the road and railway infrastructure of the transport passage through the Kerch Strait.

At the meeting, the shareholders voted on agenda items pertaining to approval of the Company’s annual report, annual financial statements for 2018, distribution of profits (including payment (declaration) of dividends) and losses of the Company based on the results of 2018, election of members of the Company’s Board of Directors and members of Auditing Commission of the Company, approval of the Company’s auditor, approval of new versions of the Company’s Charter and internal documents regulating the activities of the Company’s management bodies, approval of participation of Rosseti Kuban in the Association “Self-Regulatory Organization “Interregional Alliance of Builders”.

Information on the results of voting and decisions taken will be disclosed by the Company in accordance with the current legislation of the Russian Federation.