Russia's Proxima Capital (Proxima) has notified JKX Oil & Gas Plc with assets in Ukraine and Russia about the sale of 19.97% of JKX shares to Cascade Asset Management (the Cayman Islands) of MP Vitaliy Khomutynnik and the withdrawal of its representatives from the council of directors.

"We are pleased to welcome Cascade as a shareholder of the company. The board of directors is committed to active interaction with all shareholders, we look forward to creating constructive relations with Cascade," Hans Jochum Horn, the head of the board of directors of JKX, said, commenting on the change of the major shareholder in the company.

JKX noted that Vladimir Tatarchuk and Vladimir Rusinov, who represented Proxima on the company's board of directors, had already left it.

"There are no current plans for replacing them," the report said.

As reported, in the middle of July 2018 it became known about the purchase by Cascade Investment, the beneficiary of which is co-chairman of the Vidrodzhennia parliamentary group Vitaliy Khomutynnik, of 10.04% of JKX shares and financial instruments that could be converted into another 9.88% of the shares.

The largest shareholders of JKX are also Eclairs Group of Ihor Kolomoisky and Hennadiy Boholiubov with 27.47% of the shares, Keyhall Holding with 11.42%, Neptune Invest & Finance Corp with 12.95%, and Interneft Ltd. with 6.6%.

In Ukraine, JKX Group owns Poltava Petroleum Company.