On March 24th, 2012, the Board of OJSC Artsakh HEK held a regular meeting. The first agenda item presented during the meeting was the issue of profits and losses of the company for 2011. The second item concerned the projected revenues and expenses estimates of the current year.
On the next agenda item, the Board discussed the applications of the independent auditing company submitted to the competition committee for the Company’s annual financial statements audit for 2012. The Board has decided to present the candidacy of «Fintech» CJSC (Republic of Armenia) as the Company’s auditor for 2012 at the General Meeting of Shareholders.
The technical director of the company, A. Gasparyan, addressed the meeting with a report on the necessity of speed and excitation regulators system installation, which will aim at reliability and security of the operation of Sarsang HPP, as well as with a proposal to include purchasing of the equipment and installation of the system into the program of capital investment.
In connection with the proposal, the Board members agreed on the necessity to initiate the works of design estimates documents preparation for the above-mentioned proposal.
The Board of Directors of «Artsakh HEK» OJSC approved conveying the regular General Meeting of the Shareholders, specifying the date of holding the meeting as: April 30, 2012 and the place of holding the meeting as: 63, Tumanyan Str., Stepanakert (Small Hall of the Chamber of Culture and Youth).
The Board has also approved the agenda of the General Meeting of the Shareholders.