Case on Dniproenergo’s Additional Share Issue to be Heard on Jan. 16

The High Economic Court suspended a decision by the Zaporizhya Appellate Economic Court that recognized Dniproenergo’s (DNEN: HOLD) additional share issue as invalid. According to Ukrainian News, the court is going to review the case, the first hearing will be on January 16. Alexander Paraschiy: Last week Dniproenergo postponed the date of its shareholder meeting from January 14 to March 21 to approve the results of the additional share issue. We expect the courts to make a final decision on the validity of the issue by the March AGM. We see the additional share issue having a high chance to be recognized as valid, mainly because money attracted by the company via the issue has been already spent to pay off debt, and it will be technically hardly possible to return.