10:58 18.10.2017

DTEK announces offer to buy back shares in Dniprooblenergo at UAH 163.02 per share

2 min read
DTEK announces offer to buy back shares in Dniprooblenergo at UAH 163.02 per share

DTEK Energy Holding has offered the purchase of shares in public joint-stock company Dniprooblenergo from minority shareholders at UAH 163.02 per share, while at the recent privatization auction the company's shares were sold at the price of UAH 670.72.

The company said in the information disclosure system of the National Commission for Securities and the Stock Market, the information about the offer was received from DTEK Power Trade LLC on October 17, 2017.

DTEK Dniprooblenergo told Interfax-Ukraine that the supervisory board looked at the average price of shares on the Ukrainian Exchange while setting the offering price.

"The only parameter for setting the repurchase price is the average stock exchange price of the securities at Ukrainian Exchange for the last three months prior to the date of privatization. The average price of the company's shares for this period is UAH 163.02. On other exchanges, the stock price of the company over this period was not presented," DTEK Dniprooblenergo said.

The company added that SCM group built up 76.66% of the shares (a significant controlling stake) in DTEK Dniprooblenergo, which is less than the 95% threshold (the dominant package). Therefore, the requirement of the law on the redemption of shares from minority shareholders at the price of a privatization auction in this case does not work.

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