Poltavaoblenergo (POON: HOLD) Fined USD 12.5 Mn
19 May 2008
The National Electricity Regulation Committee fined POON by USD 12.5 mn for violating the rules of goods and services purchases. Concorde Capital: The fine is equal to about 8% of the company?s 2004 revenue and will have a significantly negative impact on the electricity producer which posted a USD 5 mn net loss in 2004.
