The Executive Service arrested the corporate rights related to 50.3% of the shares owned by Ferrexpo AG (Switzerland) in Yeristovo and Belanivskyi mining and processing plants (GOKs, both - Poltava Region).
This is stated in the message of Ferrexpo, Ukrainian News Agency reports.
According to the notice, these restrictions prohibit the transfer of 50.3% of the shares owned by Ferrexpo AG in these GOKs, but do not otherwise affect Ferrexpo AG's ownership of the shares, including its right to exercise voting rights or receive dividends from the shares.
At the same time, the restrictions are part of a series of legal proceedings against Kostiantyn Zhevaho, related to the Finance and Credit bank, and were introduced as the initial stage of the executive process to repay Zhevaho's debt to the National Bank of Ukraine (NBU) in the amount of about USD 44 million.
"According to the Ukrainian legal opinion obtained by Ferrexpo, the imposition of restrictions on 50.3% of the shares of the two GOKs is illegal, as it is contrary to Ukrainian legislation on a number of grounds, in particular, these shares are fully owned by the Ferrexpo group and not by any other person in accordance with the laws of Ukraine. The Group is analyzing the possible legal and other remedies available to it and intends to protect its rights. If the enforcement process under which the restriction was imposed is not interrupted, this could ultimately lead to a potential sale of shares, which make up 50.3% of the issued shares in each of the GOKs," the message states.
As Ukrainian News Agency earlier reported, the State Bureau of Investigation handed over the arrested helicopter of businessman and former member of the Verkhovna Rada Kostiantyn Zhevaho to the Armed Forces of Ukraine.
In January, a court in France released Zhevaho on bail of EUR 1 million.
The State Bureau of Investigation suspects Zhevaho of involvement in the embezzlement of UAH 2.5 billion of the Finance and Credit bank and the legalization (laundering) of criminally obtained funds.
The majority shareholder of the Ferrexpo group is Zhevaho.
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