Oblenergo AGMs Fail To Materialize

AGMs were scheduled for Prykarpatoblenergo, Ternopiloblenergo, Lvivoblenergo and Poltavaoblenergo over the past week. However, only Poltavaobloenergo was able to hold a successful AGM and meet the 60% quorum requirement. The companies are a source of conflict for the Grigorishyn and Surkis business groups. Grigorishyn refused to participate unless the state, which owns about 25% in each company, would make clear its attitude to the each of the groups. Concorde Capital: Grigorishyn, who supported Yuschenko during the presidential campaign, hopes the state will support him in the conflict with Surkis. The latter is close to Yuschenko?s political rivals, former President Kuchma and former presidential administration chief Medvedchuk. So far, no one in the government has taken sides. This adds uncertainty for Grigorishyn?s holdings, while Surkis still has control in the companies.