In November 2022, former member of the Verkhovna Rada, businessman Vadim Novinsky signed an agreement to transfer the assets of his Smart Holding group to a trust.
This is stated in the company's message, Ukrainian News Agency reports.
"As part of the restructuring, the founder of Smart Holding Vadim Novinsky decided to transfer the assets to a trust. The relevant Smart Trust and Step Trust agreements were concluded in November 2022 and registered by the Cyprus Securities and Exchange Commission. The trustees are highly qualified fiduciary administrators appointed in accordance with the license under the terms of the laws of Cyprus. Accordingly, the trustees (trusts) currently fully own, control and manage the group's assets. In accordance with the above, as of the current date, Vadim Novinsky does not have a beneficial interest in the group and does not exercise any control over the activities or processes of the group," the statement says.
It is noted that Novinsky, who has not been involved in the management of Smart Holding since 2013, decided to concentrate his activity on private interests.
According to the report, the Smart Holding group continues to operate as usual.
"Representatives of the trust, as a beneficial owner, together with the management of Smart Holding, are currently finalizing the development of a new corporate governance structure and the management structure of Smart Holding in accordance with the best international practices, and are also in the process of selecting new members of the board of directors," the statement reads.
As Ukrainian News Agency earlier reported, in December 2022, the National Security and Defense Council (NSDC) imposed sanctions against the Vicar of the Kyiv-Pechersk Lavra of the Ukrainian Orthodox Church of Moscow Patriarchate (UOC MP) Pavlo (Lebed), other representatives of the UOC and former member of the Verkhovna Rada, Vadim Novinsky.
Smart Holding controls a number of enterprises of the mining and metallurgical complex (MMC), shipbuilding, machine building, agricultural sector, mining industry, real estate.
The beneficiary of the company is businessman Vadim Novinsky.
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