F.A.Q
- Securities
- 1. How to purchase/ sell shares of Rosseti Lenenergo, PJSC?
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The shares are the property that the shareholder has the right to dispose of at his/her own discretion. He/she can sell the shares to any individual or legal entity that wants to purchase them at the fair trade agreed price.
The purchase is made on the basis of the sale and purchase agreement executed in accordance with the current legislation, followed by subsequent re-registration of property rights reflected in the register of the holders of the securities of Rosseti Lenenergo, PJSC (Registrar of the Company - JSC R.O.S.T. Registrar).
The shares of Rosseti Lenenergo, PJSC can be bought or sold with the help of a professional share market participant providing brokerage services.
The shares can be sold entirely or partially. It should be noted that income received from the sale of securities is taxed on individual income in accordance with the Russian Tax Code.
The market price of shares is not constant value and may differ significantly from the nominal value. For information on the share market price of Rosseti Lenenergo, PJSC, please visit the website of Moscow Exchange—www.moex.ru
The list of accredited professional securities market participant is also available on the Moscow Exchange website.
Please note that Rosseti Lenenergo, PJSC does not sell or purchase its shares.
- 2. How to determine what kind of tax have to be paid in case of shares sale?
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In accordance with Russian legislation, when selling securities, including shares, the income tax is as follows:
- 13% for individuals - residents
- 15% for individuals - non-residents;
- 20% for legal entities -residents/non-residents
The tax is levied from the difference between income received from the sale of securities and documented expenses related to their purchase, sale and storage.
The document confirming specified expenses are issued by persons or entities that stored shares and sold them on behalf of the shareholder, or those who purchased them from the shareholder (brokers, trustees, management companies, as well as other persons performing transactions with shares in favor of their owners).
If, for any reason, a tax agent (broker, trustee) was not levied the individual income tax upon the end of a year when the shares were sold, an income declaration is submitted to the tax inspection together with the mentioned documents.
- 3. What trading sites are shares of Rosseti Lenenergo, PJSC traded?
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The shares of Rosseti Lenenergo, PJSC are traded at Moscow Exchange PJSC www.moex.ru. The shares are included in the Third level of the Moscow Exchange Securities List from January 01, 2017.
Tickers at Moscow Exchange:
- LSNG - ordinary shares;
- LSNGР - preferred shares.
The trading date of the shares of Rosseti Lenenergo, PJSC at Moscow Exchange - July 16, 2003.
- 4. Where can I find out the current market value of shares?
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The current market price of shares of Rosseti Lenenergo, PJSC based on the results of trading at Moscow Exchange is available at the official website of Moscow Exchange.
There are also other sources of information on the Company's securities trading (Investing.com, IC Finam, Quotetotal, Reuters and etc.).
In addition, the data on the current quotations of the Company's securities and tools for their analysis are available at the Rosseti Lenenergo, PJSC website.
- 5. What is the nominal value of shares of Rosseti Lenenergo, PJSC?
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The nominal value of the shares of Rosseti Lenenergo, PJSC is 1 ruble.
- 6. How many shares of Rosseti Lenenergo, PJSC are in free float?
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The share capital of Rosseti Lenenergo, PJSC consists of 8,617,049,631 and 5/100 pieces of shares. The portion of the shares in free float according to the Company's estimations is 2.51% of the Authorized capital.
- 7. Can I purchase the shares of Rosseti Lenenergo, PJSC as a private person and how to do it?
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The shares of Rosseti Lenenergo, PJSC are in free float at the Russian stock market (Moscow Exchange) and are sold / purchased by interested parties at the market price.
The company's shares may be purchased at the stock exchange through investment companies (brokers) by signing a respective agreement with them.
- 8. What to do, if I receive an offer from an unknown company inviting to sell the shares of Rosseti Lenenergo, PJSC to it?
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First of all, we advise you to gather information on this company to make the most complete picture of its activities.
As a rule, unfair participants of the securities market, who use illegally obtained information on shareholders, make offers to sell shares. The price, at which such companies offer to sell the shares, is often below the market price. Therefore, before making a transaction we recommend you read current market quotes of Company's share that are available at the following addresses:
Moscow Exchange and as well as at the corporate website of Rosseti Lenenergo, PJSC.
As part of the analysis of offers on purchase of shares of Rosseti Lenenergo, PJSC, the company strongly recommends that you should report such offers to the Shareholder and Investor Relations Department by phone +7 812 494 39 06, or send a corresponding letter to the e-mail address: ir@lenenergo.ru.
- 9. Can a shareholder additionally purchase shares of Rosseti Lenenergo, PJSC at their nominal value?
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The Company's Articles of Association does not provide for the purchasing of shares of Rosseti Lenenergo, PJSC at the nominal value.
- Dividends
- 1. Who makes a decision on dividends payment?
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In accordance with paragraph 3 of Article 42 of the Federal Law "On Joint-Stock Companies" No.208-FZ dated December 26, 1995, the decision on the payment of annual dividends, the amount of dividends and the form of its payment for shares of each category (type) is made by the General Meeting of Shareholders upon the recommendation of the Company's Board of Directors. The amount of dividends may not exceed the amount recommended by the Company's Board of Directors. In accordance with paragraph 2 of Article 42 of the Federal Law "On Joint-Stock Companies" No.208-FZ dated December 26, 1995, the source of dividends payment is the Company's profit after tax (net profit of the Company).
- 2. Who is entitled to receive dividends?
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In accordance with paragraph 4 of Article 42 of the Federal Law "On Joint-Stock Companies" No.208-FZ dated December 26, 1995, the shareholders who own the shares as at the date of the list of persons entitled to participate in the General Meeting of Shareholders (at the record date), as the list is compiled on the basis of the Company’s register of shareholders, is entitled to receive dividends. The date of the Company's list of persons entitled to participate in the General Meeting of Shareholders is annually set depending on the date of the annual General Meeting of Shareholders. In accordance with paragraph 11.4 of Article 11 of the Company's Articles of Association, the Company's list of persons entitled to participate in the General Meeting of Shareholders may not be established earlier than 10 (ten) days from the date of the decision to hold the General meeting and more than 55 (fifty-five) days before it.
The amount of annual dividends paid by Company for each ordinary share shall not exceed the amount payable as dividends for each preferred share.
- 3. What is the term for dividends payment?
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In accordance with paragraph 7.7 of Article 7 of the Company's Articles of Association, the Company's dividends payment term to a nominal holder and a trustee who is a professional participant in the securities market, which are registered in the register of shareholders, shall not exceed 10 business days, and to other persons registered in the register of shareholders - 25 business days from the date of which persons are determined entitled to receive dividends.
The date on which the persons entitled to receive dividends are determined in accordance with the decision on dividends payment (declaration) cannot be set earlier than 10 days from the date of the decision on dividends payment (declaration) and later than 20 days from the date of such decision.
- 4. What does the amount of dividends of Rosseti Lenenergo, PJSC depend on?
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The Company's Board of Directors approved the Dividend Policy Regulation, which determines the main provisions for the dividends payment of the Company. The text of the regulation is available at the Company's website in the Internal documents section.
The amount of dividends per the shares of Rosseti Lenenergo, PJSC is calculated based on the amount of the net profit reflected in the financial statements according to Russian standards.
In accordance with the Articles of Association of Rosseti Lenenergo, PJSC, the total amount paid as a dividend per each preferred share is set at 10 (ten) percent of the Company's net profit based on the results of the last financial year determined pro rata to the number of the sold preferred shares of type A.
The Board of Directors makes offers on the amount of dividends to the General Meeting of Shareholders, which makes the final decision on the dividends payment. The amount of the dividends approved by the meeting must not exceed the amount recommended by the Company's Board of Directors.
- 5. Is it possible to pay dividends in shares?
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No. In accordance with paragraph 1 of Article 42 of the Federal Law "On Joint-Stock Companies" No.208-FZ dated December 26, 1995, the dividends are paid in money, and in cases stipulated by the Company's Articles of Association - in other property. The Articles of Association of Rosseti Lenenergo, PJSC do not provide for another way of dividends payment, therefore the Company may pay the dividends only in money.
- 6. How does the Сompany pay dividends?
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Since January 1, 2014 in accordance with paragraph 8 of Article 42 of the Federal Law "On Joint-Stock Companies" No. 208-FZ dated December 26,1995, the payment of dividends in money to individuals whose rights to shares are recorded in the register of shareholders of the Company shall be made by postal money transfer or, if there is a corresponding application of these persons by money transfers to their bank accounts. All changes regarding the dividend payment procedure can be found in the Сurrent information section.
- 7. How do I change the payment form of dividends from postal transfer to bank transfer?
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In order to change the payment form of dividends, you should turn to the Company's registrar and update the data in the questionnaire of the registered person indicating the details of your bank account for the bank transfer.
We recommend that you specify the details for the bank transfer of dividends in advance at the bank in which your personal account is opened, including:
- personal account number;
- name of the bank (bank branch);
- bank account number of the bank;
- number of the correspondent account of the bank;
- BIC of the bank;
- INN of the bank. - 8. What are the reasons for non-payment of dividends to the shareholder of Rosseti Lenenergo, PJSC?
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The most frequent reason for non-payment of dividends is failure to submit information on change of the details by the shareholder to the register (for example, place of residence, bank details). In accordance with the section 44 of the Federal Law "On Joint-Stock Companies" No. 208-FZ dated December 26, 1995, the person registered in the register of the Company's shareholders is obliged to inform in due time the holder of the register of the Company's shareholders on any change of his/her details. If the shareholder fails to provide any information on change of his/her details, the Company and the registrar shall not be liable for losses caused in this regard.
Therefore, in case of data change, the shareholder or nominal holder of the shares shall submit a new questionnaire form of a registered person to JSC R.O.S.T. Registrar (the registrar of the Company) in order to obtain dividends. The model of the questionnaire form of a registered person is available at the website of the Company's registrar JSC R.O.S.T. Registrar.
- 9. Can I receive dividends if I sell shares after the record date?
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Yes, you can. Dividends will be paid to you, if you are a shareholder as at the record date for participation in the General Meeting of Shareholders, which passed the decision on dividends payment. In accordance with paragraph 11.4 of Article 11 of the Company's Articles of Association, the Company's list of persons entitled to participate in the General Meeting of Shareholders may not be established earlier than 10 (ten) days from the date of the decision to hold the General meeting and more than 50 (fifty) days before it.
- Issues relating to activities of the Company's Register
- Issues related to Corporate Governance
- 1. Who is entitled to participate in voting on the agenda items of the General Meeting of Shareholders?
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According to the Company's Articles of Association, the following persons are entitled to participate in voting on the items of the agenda of the General Meetings of Shareholders:
·shareholders - owners of ordinary shares of the Company, on all items of the agenda.
· shareholders - owners of preferred shares in solving the following items:
- on reorganization and liquidation of the Company;
- on introduction of changes and additions to the Company's Articles of Association, which limit the rights of the shareholders - owners of preferred shares;
- on all of the items starting from the meeting following the annual meeting of shareholders, which did not take a decision on payment of dividends or which took the decision on incomplete payment of dividends per the preferred shares irrespective of the reasons.
- 2. How does Rosseti Lenenergo, PJSC inform shareholders about holding General Meetings of Shareholders, as well as about the decisions taken?
- 3. What is the procedure for holding an Extraordinary General Meeting of Shareholders?
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The extraordinary General Meeting is held by decision of the Board of Directors (Supervisory Board) of the Company at its own initiative, by the request of the audit committee (auditor) of the Company, Auditor of the Company and the shareholders (shareholder) owning at least 10 (ten) percent of the Company's voting shares as at the date of submission of the request.
The decision of the Board of Directors on convocation of the extraordinary General Meeting or motivated decision on refusal to convoke it is sent to the persons demanding its convocation no later than 3 (three) days from the moment of passing of such a decision.
If the proposed agenda of the extraordinary General Meeting contains an item on election of members of the Board of Directors, the General Meeting of Shareholders should be held within 95 (ninety five) days from the moment of the request to convene the Company's extraordinary General Meeting of Shareholders.
The Company's shareholders (shareholder) owning in aggregate at least 2 (two) percent of the Company’s voting shares are entitled to offer candidates for election to the Board of Directors, the number of which may not exceed the number of the members of the Board of Directors. Such offers must be accepted by the Company no later than 30 (thirty) days prior to the date of the extraordinary General Meeting.
The statement on the extraordinary General Meeting of Shareholders must be made no later than 70 (seventy) days prior to the date of its holding.
- 4. Is the shareholder entitled to reconsider his/her decision on any item during the General Meeting of Shareholders and to turn to the tabulation commission with the request to cancel his/her filled-in ballot?
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The Federal Law "On Joint Stock Companies" does not provide for the right of the shareholder, who reconsiders his/her decision on any item during the General Meeting of Shareholders, to turn to the tabulation commission with the request to cancel his/her filled-in ballot and to receive a new ballot instead of the ballot accepted for voting.
- 5. How is the Company's Board of Directors elected at the General Meeting of Shareholders of Rosseti Lenenergo, PJSC?
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In accordance with paragraph 4 of Article 66 of the Federal Law "On Joint Stock Companies", election of the members of the Company's Board of Directors is carried out by the cumulative voting. The candidates with the largest number of votes are considered elected to the Company's Board of Directors.
The shareholders voting on the item of the election of the members to the Board of Directors of Lenenergo PJSC, first of all, make the following decision: to vote for election of the candidates offered in the ballot, to vote against all candidates or to abstain in respect of all candidates.
The shareholders who have chosen the voting option "For" are entitled to elect members of the Board of Directors of the Company by cumulative voting. In the event of cumulative voting the number of votes belonging to the shareholder is multiplied by the number of the persons to be elected to the Company's Board of Directors (13), and the shareholder is entitled to give the votes obtained in such a manner (for convenience of the shareholders, the number of the cumulative votes is stated in the ballot) completely for one candidate or to distribute them between two and more candidates.
If the number of the candidates stated in the voting ballot on the item of the election of the members of the Company's Board of Directors does not exceed the number of the members of the Board of Directors established by the Articles of Association of Rosseti Lenenergo, PJSC – 13, then those candidates will be recognized elected, who have received votes, regardless of the number of votes.
If the number of the candidates stated in the voting ballot on the item of election of the members of the Company's Board of Directors exceeds the number of the members of the Board of Directors stipulated by the Articles of Association of Rosseti Lenenergo, PJSC – 13, then 13 candidates with the largest number of votes will be considered elected.
- 6. What is the effective term of powers of the Company's Board of Directors elected by shareholders at the Annual General Meeting of Shareholders?
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The members of the Company's Board of Directors are elected by the General Meeting of Shareholders for a term until the next annual General Meeting of Shareholders, or until an extraordinary General Meeting with such a question.
If the Annual General Meeting of Shareholders has not been held within the period established by the legislation (not earlier than two months and not later than six months after the end of the financial year), the powers of the Company's Board of Directors shall be terminated, except for the powers related to the preparation, convocation and holding of the Annual General Meeting of Shareholders.
- General issues