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Law Lowering Quorums At AGMs To 50% Passes First Reading.

Law Lowering Quorums At AGMs To 50% Passes First Reading.

6 October 2008

The Verkhovna Rada passed a law in the first reading yesterday which will lower the required number of votes at an AGM to reach quorum from 60% to 50%. The law received 236 votes, ten more than the 226 required. Nick Piazza: We are expecting a firestorm of opposition to this law from several large business groups, including Privat. Ukrnafta (UNAF: SELL) has an AGM scheduled for November 17 with reorganization of the supervisory board on the agenda.

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