Centrenergo seeks to remove stock listing from Ukrainian stock exchanges

12:20, 29.03.2016 1 min read

Public joint-stock company Centrenergo seeks to remove its shares from the register of Ukrainian stock exchanges, a source has told Interfax-Ukraine.

The source said that the decision is linked to the noncompliance of the company with new requirements of the law on joint-stock company that will take effect in May 2016.

"The new requirements set up obligatory inclusion of shares of joint-stock companies to the exchange register of at least one of Ukrainian exchanges. The revised listing requirements that took effect in September 2015 envisage the obligatory availability of 25% of independent directors in the supervisory board," the source said.

The press service of Centrenergo has not yet confirmed the information to Interfax-Ukraine.

The company's supervisory board consists of five persons. There is no post of independent director.

Centrenergo operates the Vuhlehirsk, Zmivsky and Trypillia thermal power plants, which have a total installed capacity of 7,550 megawatts. The state owns 78.3% of the shares in the company.