Recovery of Government control over Ukrneft to be possible in late May –Demchishin

​The law on the reduction of quorum for the meeting of shareholders of Ukrneft PJSC will come into force on May 26th 2015, the Minister of Energy and Coal Industry of the Ukraine, V. Demchishin, said.

“The law has been approved for Ukrneft and will come into force on May 26th. More active and clear actions will be held after May 26th. Before that we are ready to hold all the procedures to gather the supervision committees to hold the general meeting. Before this law comes into force, all these measures will not be that restricted”, he said.

On March 25th 2015 the President of the Ukraine, P. Poroshenko, signed a draft law “On introduction of changes into the law of the Ukraine “On joint stock companies” reducing the quorum for the meetings of shareholders from 60% to 50% plus 1 share.