The extraordinary general meeting of KHARKIVENERGOZBUT’s shareholders, held online on 4 February 2022, elected the competent composition of the company’s Supervisory Board.
Three members have been elected to the Supervisory Board, including two independent members, as required by the effective legislation.
From SMART HOLDING (CYPRUS) LTD, Ivan Gerasymovych, Chief Security Officer of Smart Holding, has been elected to the Supervisory Board.
‘We agreed to conducting the election procedure for the Supervisory Board for the second time in order to avoid any legal conflicts and taking into account the interests of all shareholders, the state in the first place. This time, all legal requirements have been followed and a full-fledged and competent supervisory body of the company has been established, involving its independent members. Being in the Supervisory Board, we, as shareholders, will closely monitor the decisions of the company’s management and will do everything in our power for improvement of the company’s financial standing and putting an end to any corrupt practices,’ said Ivan Gerasimovich, a member of the Supervisory Board of KHARKIVENERGOZBUT PJSC.
It is a reminder that on 7 October 2021 the extraordinary general meeting of KHARKIVENERGOZBUT’s shareholders elected the Supervisory Board of the company. However, the issuer’s officials significantly failed to follow the procedure in drawing up the final minutes of the meeting, in particular in terms of the voting results on this agenda item. The incompliance was confirmed by the conclusion of the National Securities and Stock Market Commission.
SMART HOLDING (CYPRUS) LTD acquired the ownership rights for 29.7950% of shares in KHARKIVENERGOZBUT PJSC in February of this year. At the same time, the Company officially closed the deal to acquire a similar stake in KHARKIVOBLENERGO JSC.
SMART HOLDING made repeated statements about the incompetence of the management bodies of KHARKIVENERGOZBUT PJSC and KHARKIVOBLENERGO JSC and about numerous corrupt practices with the energy companies’ assets and financial resources.
SMART HOLDING is one of the largest investment groups in Ukraine. The interests of the Group focus on the industries that are the key ones for the economy of the country. The companies of Smart Holding Group invest in metals and mining, oil and gas sectors, agriculture, shipbuilding, real estate and energy. The strategy of SMART HOLDING is aimed at efficient management of a diversified investment portfolio in order to increase its value in the long term.
SMART HOLDING (CYPRUS) LTD is the top holding company of the Group that was established and operates under the laws of the Republic of Cyprus. Its beneficiary is Vadym Novynskyi.