3rd Jul 2012 07:29
Federal Grid Board Re-elects Ernesto Ferlenghi as Chairman
3 July 2012, Moscow - Federal Grid Company of Unified Energy System ("Federal Grid Company" or "the Company") (MICEX-RTS, LSE: FEES), announces that Ernesto Ferlenghi, an independent non-executive director, was re-elected the Chairman of the Board of Directors of Federal Grid at the meeting of the Company's Board of Directors on 2 July 2012.
Andrei Malyshev was elected Deputy Chairman of the Board of Directors of Federal Grid.
About Ernesto Ferlenghi
Ernesto Ferlenghi has been Member of the Board of Federal Grid since December 2008. He is also a member of Audit Committee of the Board.
Since April 2009 Mr. Ferlenghi has been Vice President of Eni S.p.a. and since 2005 he has been the Head of Eni's representative office in Russia and CIS. He is also a Member of the Board of Directors at SeverEnerghia. From 2005 to 2009 he was Managing Director of EniEnerghia, Russia. Prior to that, from 2003 he was representative of Eni in Kazakhstan and was regional manager at Agip Caspian Sea and Agip KCO. In 1996-1997 Mr. Ferlenghi was a project manager at the European Commission's TACIS Project in Baku (Azerbaijan). Mr. Ferlenghi started his career in 1994 as a consultant at Tor Vergata University in Rome. He graduated from Tor Vergata University in 1994 with the diploma in physics
Ernesto Ferlenghi is 43 years old. He is married with two daughters.
The current Board of Directors was elected at the Federal Grid's Annual General meeting on 29 June 2012.
Enquiries:
Contacts | ||
Analysts/Investors | ||
Federal Grid IR team | Work | Mobile |
Alexander Duzhinov | +7 (495) 710 9064 | +7 (916) 041 8053 |
Nadezda Sukhova | +7 (495) 710 9541 | |
Egor Toropov | +7 (495) 710 9333 ext. 2275 | |
Vladimir Baklanov | +7 (495) 710 9333 ext. 2926 | |
International Media | ||
M:Communications | Work | Mobile |
Tom Blackwell | +7 (495) 363 2841 | +7 (919) 102 9064 |
Sam VanDerlip | +7 (495) 363 2845 | +7 (916) 306 6112 |
About Federal Grid Company
Federal Grid Company is the operator and manager of Russia's unified electricity transmission grid system, including high voltage transmission lines, and holds the status of a natural monopoly.
The Company's assets include over 124,000 km of transmission lines and 854 substations with over 322 GVA of 35-750 volt transformer capacity. Based on the length of transmission lines and installed transformer capacity, Federal Grid is the largest publicly traded electricity transmission company in the world.
Federal Grid's business is to provide electricity transmission and technological connection services. It maintains and develops the grid system and supervises grid facilities and infrastructure in 73 regions of Russia, covering a territory of 13.6 million square kilometres. Its customers are regional distribution companies, electricity suppliers and large industrial enterprises.
Since 1 January 2010, Federal Grid has operated under a 5-year regulatory asset base (RAB) model.
The Company was incorporated in June 2002 as part of reorganisation of Russia's electrical power industry. The largest shareholder, with a 79.55% stake, is the Russian Federation Government.
Federal Grid Company's ordinary shares are listed on the MICEX-RTS stock exchange under the ticker FEES and the Company's GDRs are traded on the London Stock Exchange under the same FEES symbol. The Company's shares are included in the MSCI Emerging Markets and MSCI Russia indices.
In 2011 the Company's IFRS revenue for 2011 was RUB 139,571 million (up 23% compared to 2010), adjusted EBITDA as RUB 83,760 million (a 24% increase from 2010), and adjusted net profit was RUB 38,241 million (up 37% on 2010).
Further information can be found at www.federal-grid.com
Related Shares:
FEES.L