14:29 17.06.2016

Supervisory board of Borschahivka plant not recommending shareholders to accept proposal of Darnitsa firm to sell shares

2 min read
Supervisory board of Borschahivka plant not recommending shareholders to accept proposal of Darnitsa firm to sell shares

The supervisory board of public joint-stock company Research and Industrial Center Borschahivka chemical and pharmaceutical plant (Kyiv) is not recommending its shareholders to accept the proposal of private joint-stock company Darnitsa pharmaceutical firm (Kyiv) to sell shares in the chemical plant.

"The supervisory board jointly with its legal and financial advisors has studied the public proposal of Darnitsa pharmaceutical firm to the shareholders in the plant to buy 25% of shares in the plant. Aiming at protecting the interests of the shareholders, the supervisory board unanimously decided to recommend shareholders not to accept the proposal, as it underestimates the fair cost of the company," the plant said in a statement forwarded to Interfax-Ukraine.

"We consider such proposals in a single package, taking into account the interests of hundreds of shareholders and our employees, medical society and the public. We respect Darnitsa which has passed a long way to become a modern European manufacturer meeting GMP standards, as we did. However, we were surprised with the proposal from the financial point of view. It underestimates the two companies," Chairman of the supervisory board of Borschahivka chemical and pharmaceutical plant Mykola Bespalko.

An advisor of the plant for financial issues is Eavex Capital, Baker & McKenzie supports in legal issues.

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