DTEK announces buyback of DTEK Dniproenergo shares for UAH 488.14 per share
DTEK Power Trade LLC has made a public demand for the minority shareholders of DTEK Dniproenergo about the squeeze-out.
According to a report by DTEK Dniproenergo in the information disclosure system of the National Securities and Stock Market Commission, the buyout price was set at UAH 488.1 per share.
This is the highest price at which DTEK and SCM Group bought shares in this energy company over the previous 12 months.
SCM Group structures hold a total of 98.5567% or 5,881,302 shares in DTEK Dniproenergo.
The total number of the company shares in circulation is 5,967,432. Taking into account the above parameters, the major shareholder will have to pay about UAH 42 million for the shares.
DTEK Power Trade is given 90 days to transfer money to an escrow account in FUIB Bank, from which minority shareholders can withdraw money for their shares for at least three years. Transaction costs are borne by the majority shareholder.