Management & control bodies

The Chairman of the Management Board and members of the Management Board are elected by the Board of Directors for 4 years. The Management Board, in particular, develops the annual budget, investment programs, long-term and current plans for the Company's activities, prepares reports, organizes gas flow management

The Chairman of the Management Board (the sole executive body) and the Management Board (the collegial executive body) manage the current activities of the Company. They organize the implementation of decisions of the General Meeting of Shareholders and the Board of Directors and are accountable to them.

The competence of the General Meeting of Shareholders, in particular, includes making changes to the Company's Charter, approving annual reports and the Company's auditor, distributing profits, electing members of the Board of Directors and the Audit Commission, making decisions on the reorganization or liquidation of the Company, as well as on increasing or decreasing its authorized capital.

The supreme governing body of Ripple Energy Resources is the General Meeting of Shareholders , which is held annually. General Meetings of Shareholders held in addition to the annual one are extraordinary.

The right to vote at the General Meeting of Shareholders is vested in shareholders who own ordinary shares. Any shareholder, personally or through his/her representative, has the right to participate in the General Meeting of Shareholders. The meeting is considered competent if it is attended by shareholders who collectively own more than half of the votes.

The Board of Directors, in particular, determines the priority areas of the Company's activities, approves the annual budget and investment programs, makes decisions on convening General Meetings of Shareholders, on the formation of executive bodies of the Company, and makes recommendations on the amount of dividends on shares.

The Board of Directors exercises general management of the Company's activities, with the exception of decisions on issues within the competence of the General Meeting of Shareholders. Members of the Board of Directors of the Company are elected by the General Meeting of Shareholders for a term until the next annual General Meeting of Shareholders.