Home
/
News
/

Interpipe To Strengthen Its Position At Nikopol Ferroalloy.

Interpipe To Strengthen Its Position At Nikopol Ferroalloy.

27 April 2008

At yesterday’s AGM, the company’s shareholders (NFER) appointed Volodymyr Kutsyn as CEO and elected Oleksandr Neustroyev as Chairnman of The Board. Both executives are believed to be loyal to Interpipe. In addition, the AGM decided to pay out all NFER’s net income for 2005 (USD 1.5 mln) as dividends. Concorde Capital: A number of previous attempts to hold NFER’s AGM failed due to a lack of state representatives in attendance. The State Property Fund (SPFU) was entitled control over a 50%+1 share stake in the company after The Supreme Court effectively ruled that the previous privatization of the stake was unlawful. However, the SPFU has not yet managed to complete the return of NFER to the state. Yesterday’s AGM took place in a very odd way, with Volodymyr Kutsyn using powers of attorney for the state’s stake to make it happen. We think that the AGM was an attempt by Interpipe to regain its control over the company during the current period of political uncertainty in the country and expect multiple law suits sponsored by Privat group who also viding for the asset. We do not rule out the possibility that the AGM’s results will later be announced unlawful by the state. Uncertainty over the company’s fate remains. WATCH.

Latest News

News

23

02/2022

Separatists may claim entire territories of two Ukrainian regions

Russia has recognized “all fundamental documents” of the self-proclaimed Donetsk and Luhansk People’s Republics (DNR...

News

23

02/2022

U.K. to provide USD 500 mln loan guarantee for Ukraine as IMF mission starts

The British government is going to provide up to USD 500 mln in loan guarantees...

News

23

02/2022

MinFin bond auction receipts jump to UAH 3.5 bln

Ukraine’s Finance Ministry raised UAH 3.3 bln and EUR 7.2 mln (the total equivalent of...