Dniproenergo’s AGM fails to convene due to lack of register

Dniproenergo’s (DNEN: BUY) AGM, scheduled for today, did not take place due to the lack of a shareholder register, which was not provided by the company’s registrar Ukrnaftogaz, the company’s registration committee said. Dniproenergo shareholders, including the National Energy Company (holder of 76% of Dniproenergo) and the Donbas Fuel and Energy Company (minority shareholder) came to take part in the AGM, but were unable to check in. The AGM’s agenda included distribution of 2007 net income; electing new members to the supervisory and management boards (and their chairs); and changes to the company’s charter. Alexander Paraschiy: The failure of Dniproenergo’s AGM plays into DTEK’s hand, as it keeps operating control over Dniproenergo (see our May 28 sector update).