: :inin Kyiv (EET)

Kolomoisky deprived of control over Ukrnafta

The Verkhovna Rada of Ukraine has adopted amendments to the law on joint stock companies regarding the reduction of the interest rate, required for a quorum.
230 MPs voted for the corresponding bill No. 1310, an Ukrinform correspondent reports.
In particular, the draft law stipulates that the general meeting of a joint stock company, the authorised capital of which includes the equity rights of the state and the state owns 50 per cent or more of common stocks, reaches a quorum provided registration for participation in the meeting of the shareholders, who collectively own more than 50 per cent of voting shares.
In the previous version of the law, quorum of the meeting was considered as present with 60% of shareholders.
According to the adopted amendments, the law shall enter into force on 1 January 2016 for the non-state-owned companies. However, the law shall enter into force upon the date of its adoption for the state-owned companies.
According to media reports, the law primarily concerns the PJSC Ukrnafta, 50% plus 1 share of which is owned by the state, but meetings of the company’s shareholders are regularly blocked by the Privat group, headed by Ihor Kolomoisky, which owns more than 40% of the stocks.


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