IDGC Holding shareholders to approve company name change March 23
MOSCOW. Feb 18 (Interfax) - The board of directors of Inter-District Grid Company Holding (IDGC Holding, MRSK Holding) has decided to convoke an extraordinary shareholder meeting on March 23, the company said in a statement.
According to the agenda, shareholders will look into making amendments and supplements to the company's Articles of Association, particularly to provide for renaming IDGC Holding to OJSC Russian Grids.
The list of shareholders with the right to participate in the upcoming meeting was compiled on February 15. The meeting will be held in absentia.
Russian President Vladimir Putin on November 22 signed a decree to rename IDGC Holding into Russian Grids and give this company the state stake (79.55%) in Federal Grid Company UES (FGC) . The government will maintain a presence in FGC UES' capital via a single share. The state's stake in Russian Grids on the list of strategic companies is fixed at 54.52%, and its stake in FGC UES is fixed at one share.
At the end of December, the governmental commission for electricity development gave general approval to Russian Grids' draft development strategy, to be further discussed with industry participants and experts.
Measures aimed at reorganizing IDGC Holding, including an additional issue for the contribution of the government's stake in FGC UES, have to be finished up by June 30 of this year.
IDGC Holding, which manages 11 inter-district and five district distribution grid companies (IDGC and DGC), is managed by FGC UES. At the moment, the government owns 54.52% of the holding's shares.