Naftogaz to make one more attempt to reshuffle Ukrtatnafta's supervisory board
National joint-stock company Naftogaz Ukrainy has started a procedure for convening an extraordinary general meeting of shareholders in public joint-stock company Ukrtatnafta (Kremenchuk oil refinery, Poltava region) to reshuffle the company's supervisory board due to the failure of making a decision to hold the meeting by the current supervisory board.
The press service of Naftogaz Ukrainy reported on Thursday that the company as a holder of 43.054% stake in Ukrtatnafta has sent a claim to convene the meeting of shareholders for October 3, 2014, although the supervisory board is ignoring the demand, despite the fact that the law on joint-stock companies obliges the board to make the decision within 10 days.
Naftogaz Ukrainy said that in this case Ukrainian law permits the holding to convene the meeting addressing to the National Depository of Ukraine (NDU).
"Taking into account the absence of response from top managers of Ukrtatnafta, Naftogaz Ukrainy has started drawing up an application to the NDU," the press service said.
As reported, the latest meeting of shareholders in Ukrtatnafta was held in July 2010.
Ukrtatnafta is the largest oil refining company in Ukraine, and other large shareholders in the company are structures affiliated with the Privat Group.