The Verkhovna Rada did not vote for the government bill and refused to reduce the quorum level for holding a general meeting of shareholders of all joint-stock companies, regardless of ownership type, to 50% + 1 share from the current 60% + 1 share.
During the bill's discussion, several deputies stated that such provisions posed a risk of corporate raiding and asked the government to revise the document. This bill also proposed establishing an effective mechanism for companies to pay dividends and for shareholders to recover dividends through a writ of execution in the event of non-payment. To this end, shareholders would have the right to appeal to a court or a notary for a decision on recovery.
As is known, on January 13, the Verkhovna Rada of Ukraine already passed a similar law, reducing the quorum to 50% plus one share. However, it later turned out that it could not be applied to Ukrnafta, the company for which the law was originally adopted. Therefore, the government revised and submitted a new document.
As a reminder, the state owns 50%+1 of Ukrnafta's shares, while Ihor Kolomoisky owns 42%. Since a 60%+1 shareholding is currently required to hold a general shareholders' meeting, Kolomoisky can block such meetings. Blocking the meeting also prevents dividend payments to shareholders.
Subscribe to our channels in Telegram, Facebook, Twitter, VC — Only new faces from the section CRYPT!