23 September 2022, Friday, 18:30 289

Smart Holding will continue to protect its right to part of Kharkivoblenergo

Редактор: Roman Vaniyan

The Smart Holding company will continue to defend the right to a share in the Kharkivoblenergo energy company.

This is stated in the company's message, the Ukrainian News agency reports.

"The decision of the Commercial Court of Cassation, adopted on September 21, 2022, regarding the invalidation of the contract for the purchase and sale of JSC Kharkivoblenergo’s shares by the Smart Holding LTD (CYPRUS), definitely works in favor of the corrupt officials who, obviously, operate in this energy company. We will remind that from the moment of consolidation of corporate rights (29.7950%) to JSC Kharkivoblenergo, Smart Holding has repeatedly drawn the attention of the State Property Fund, the Ministry of Energy, the National Security and Defense Council, law enforcement agencies and the public to signs of corruption in the management of the company, which leads to the embezzlement of hundreds of millions of hryvnias annually and has already put the company on the brink of bankruptcy," the message reads.

The message states that the management of Kharkivoblenergo is actively trying to avoid the attention of shareholders to its activity, which has signs of corruption, and has appealed to the court with a demand to declare the contract for the purchase of shares invalid.

"The first two instances reasonably refused to satisfy the specified requirements. The decision of the Court of Cassation looks at least unclear. While waiting for the full text of the decision of the relevant court to clarify further legal actions, Smart Holding declares its readiness to defend its legal right to be a shareholder of Kharkivoblenergo and to eradicate the corruption component in management of the company. We call on the Ministry of Energy, as a body authorized to manage the corporate rights of companies owned by the state of Ukraine, to pay attention to signs of corruption in the actions of the management of the company, which has strategic importance for the economy and security of the country," the message reads.

As the Ukrainian News agency earlier reported, in February 2021, Smart Holding concentrated 29.8% of shares in the authorized capital of Kharkivoblenergo.

Smart Holding controls a number of enterprises of the mining and metallurgical complex (MMC), shipbuilding, machine building, agricultural sector, extractive industry (production of non-metallic materials), real estate, finance and insurance.

The beneficiary of the company is businessman Vadym Novynsky.