Circulation of shares
Shareholders of PJSC RusHydro may enter into shareholder agreements, including those providing for the receipt by any shareholder of the degree of control disproportionate to their participation in the share capital.
Information on the possibility of acquisition or acquisition by a certain shareholder of the degree of control disproportionate to their participation in the authorised capital of the Company, including on the basis of shareholder agreements or due to the availability of ordinary and preference shares with different nominal value, seewebsite.
| Parties to the shareholder agreement | Date |
|---|---|
| March 7, 2017 |
| June 23, 2016 |
The circulation of PJSC RusHydro shares on the Russian market
Shares of PJSC RusHydro are included in the first-level quotation list and have been traded on the Moscow Stock Exchange (formerly the MICEX Stock Exchange) under the ticker HYDR since 2008, and since March 2013 the Company's shares have been admitted among the first on the Russian stock market to trading in the system T+2 with partial collateral and deferred execution of transactions.
The company's shares are components of the most important indices of the stock market, such as the Moscow Stock Exchange, RTS, MOEX Electric Utilities Index, RTS - Power, MOEX BMI, the index of shares of companies with state co-ownership (SCI) MOEX, and international: MSCI Russia, FTSE All World Emerging Europe.
| 2015 | 2016 | 2017 | |
|---|---|---|---|
| Trading mode | T + Shares and DRs | T + Shares and DRs | T + Shares and DRs |
| Currency of trades | RUB | RUB | RUB |
| Maximum transaction price | 0.679 | 0.994 | 1.100 |
| Minimum transaction price | 0.496 | 0.575 | 0.717 |
| Transaction price at the end of the year | 0.679 | 0.926 | 0.729 |
| Trading volume, pcs. | 116 bn | 134 bn | 173 bn |
During the period from 2015 to 2017, the value of RusHydro's shares increased by 34%, the Moscow Stock Exchange index (formerly the MICEX index) increased by 47%, the branch indicator of the Power Industry of the Moscow Stock Exchange grew by 127%.
2015
In 2015, the MOEX index added 26%, the MOEX Electric Utilities Index - 18%, RusHydro shares increased by 25%. Support for the Russian market as a whole was provided by the improvement of the attitude of global investors to the assets of emerging markets amid the persistence of a soft monetary policy of the world's leading central banks and the expectation of a recovery of the Russian economy in the medium term. An additional positive factor for RusHydro's shares was the continuation of the liberalisation of the sale of the capacity of Siberian hydroelectric power stations, the results of CCA, the increase in electricity prices in the second price zone, the introduction of new capacities by the Company, and the Company's efforts to improve the financial profile of RAO ES East.
2016
In 2016, the MOEX index added 27%, the MOEX Electric Utilities Index - 110%, RusHydro shares increased by 36%. Support for the Russian market as a whole was provided by the expectations of the recoveryof the Russian economy and the strengthening of the ruble exchange rate in the second half of the year. The growth of RusHydro's shares was promoted by high dividend payments, the completion of the liberalisation of the sale of the capacity of the Siberian hydroelectric power stations, as well as the strong operating results of the hydrogenerating segment against the background of rising water availability. In addition, a positive factor for the shares were measures to optimise operating and investment costs, making decisions on refinancing the debt of the RAO ES East Subgroup by raising equity financing in the amount of 55 billion rubles from VTB Bank (PJSC) with the conclusion of a forward contract; consolidation of the stake in RAO ES East in order to bring the ownership to 100%. An additional factor of growth was the Company's implementation of large assets for a total of more than 15 billion rubles.
2017
In 2017, the MOEX index decreased by 6%, MOEX Electric Utilities Index by 8%, RusHydro's shares fell by 21%. Pressure on the Russian market as a whole was a result of geopolitical risks, including discussion of the introduction of new sanctions by the US, as well as general decrease of interest in Russian companies by global investors amid tightening of monetary policy in the US and volatility in oil prices.
For most of the year, the dynamics of RusHydro's shares corresponded to the general market. At the end of the year, an additional negative pressure on shares came following the information on the decision of the Board of Directors of RusHydro to temporarily suspend construction of the Zagorskaya PSP-2.
| Reporting period Date | Value | Trader on the securities market |
|---|---|---|
| 30.12.2015 | 257,787 | CJSC "MICEX Stock Exchange" On December 19, 2016 CJSC "MICEX Stock Exchange" ceased its activities by reorganisation in the form of a merger with PJSC Moscow Stock Exchange. |
| 30.12.2016 | 356,166 | PJSC Moscow Stock Exchange |
| 29.12.2017 | 309,656 | PJSC Moscow Stock Exchange |
Circulation of shares on the international market
The number of shares traded outside the Russian Federation in the form of ADR and GDR as of December 31, 2017 is 18,650,555,600 shares, which is 4.38% of the Company's charter capital.
| Type of programme | Programme start date | Depository Bank | Ratio | Ticker symbol | Number on December 31, 2017, pcs. | Trading platforms |
|---|---|---|---|---|---|---|
| GDR by Rule 144A | 17.06.2008 | The Bank of New York Mellon | 1 GDR = 100 ordinary shares | HYDR | 78,273 | London Stock Exchange (Main Market – IOB) |
| ADR Level 1 | 07.08.2009 | The Bank of New York Mellon | 1 ADR = 100 ordinary shares | HYDR | 186,427,283 | OTCQX |
| 2015 | 2016 | 2017 | |
|---|---|---|---|
| Ticker | HYDR | HYDR | HYDR |
| Currency of trades | USD | USD | USD |
| Maximum transaction price | 1.305 | 1.57 | 1.81 |
| Minimum transaction price | 0.697 | 0.75 | 1.20 |
| Transaction price at the end of the year | 0.956 | 1.455 | 1.20 |
| Trading volume, pcs. | 182 mn | 188 mn | 175 mn |