Dniprooblenergo fails to hold its AGM

According to Yuriy Karpischev, director of law department of Dniprooblenergo, the company’s AGM scheduled for June 30, failed to take place. The official reason, according to Dniprooblenergo, was the absence of a shareholder register from the company’s new registrar, Prominvestbank. Earlier this year, the management of Dniprooblenergo terminated their agreement with former registrar Ukrnaftogaz. According to Dniprooblenergo, Ukrnaftogaz still has not passed the shareholder register to Prominvestbank. Alexander Paraschiy: DTEK efficiently used the uncertainty around Dniproenergo’s shareholder register, as without the AGM, it retains operating control over Dniprooblenergo. If the AGM had convened, the National Energy Company (which has 75% of voting shares) would easily have replaced the company’s top management, which is currently loyal to DTEK.