State Property Fund Considers Nikopol Ferroalloy's EGM Illegitimate.

The SPFU said Nikopol Ferroalloy (NFER: SELL) did not possess shares at the time the EGM (August 30) was held and therefore the power of attorney granted to state representative Serhy Gryshchenko was invalid. Concorde Capital: The growing storm surrounding the company does not bode well for its performance in 2005. The poor coordination of NFER?s re-privatization by the government may result in its further delay. Meanwhile, NFER’s status will remain in limbo.