Ukrnafta AGM Postpones Decision Over Distribution Of Net Income (UNAF: BUY)

Ukrnafta’s AGM today voted to delay a decision on how to distribute net income until its June 20 EGM. Concorde Capital: Many had feared there would not be a quorum at the meeting, but enough shareholders were present. The government maintains a majority stake in UNAF and is pressuring for the company to pay dividends. However, Privat (with a 42% stake) would prefer to re-invest additional cash flow.