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Ukraine: Kolomoisky barricades himself inside UkrNafta HQ in Kiev - reports00:58

Ukraine: Kolomoisky barricades himself inside UkrNafta HQ in Kiev - reports

Ukraine, Kiev
March 22, 2015 at 12:44 GMT +00:00 · Published

The governor of the Dnipropetrovsk Oblast and business oligarch, Igor Kolomoisky, is believed to have barricaded himself inside the HQ of the Ukrainian oil and gas extracting company UkrNafta in Kiev on Sunday.

Fighters of an unidentified unit, who were reported to be seen both inside and outside the building, installed metal barriers blocking any entrance to the facility.

According to an official from the Poroshenko Bloc, Kolomoisky's actions on Sunday could be a response to a new law approved by the Verkhovna Rada to reduce the size of the quorum in joint-stock companies. The barricaded oil company, 42 percent of whose shares are owned by Kolomoisky's company 'Privat Group,' has a government share of 50 percent plus one. Prior to the passing of the law, 'Privat Group' was able to boycott shareholder meetings. Through this it was able to block voting, and thus prevent the board from making decisions, especially regarding issues such as the distribution of profits and the payment of dividends to shareholders. The newly-passed bill facilitates "effective governmental management" of companies like UkrNafta for the first time in 12 years, the government says.

On Thursday it was reported that Kolomoisky and his armed supporters barricaded themselves inside UkrTransNafta HQ in Kiev for several hours, demanding the reinstatement of Alexsandar Lazorko as CEO following his dismissal from the post by the company’s Supervisory Board.

Ukraine: Kolomoisky barricades himself inside UkrNafta HQ in Kiev - reports00:58
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The governor of the Dnipropetrovsk Oblast and business oligarch, Igor Kolomoisky, is believed to have barricaded himself inside the HQ of the Ukrainian oil and gas extracting company UkrNafta in Kiev on Sunday.

Fighters of an unidentified unit, who were reported to be seen both inside and outside the building, installed metal barriers blocking any entrance to the facility.

According to an official from the Poroshenko Bloc, Kolomoisky's actions on Sunday could be a response to a new law approved by the Verkhovna Rada to reduce the size of the quorum in joint-stock companies. The barricaded oil company, 42 percent of whose shares are owned by Kolomoisky's company 'Privat Group,' has a government share of 50 percent plus one. Prior to the passing of the law, 'Privat Group' was able to boycott shareholder meetings. Through this it was able to block voting, and thus prevent the board from making decisions, especially regarding issues such as the distribution of profits and the payment of dividends to shareholders. The newly-passed bill facilitates "effective governmental management" of companies like UkrNafta for the first time in 12 years, the government says.

On Thursday it was reported that Kolomoisky and his armed supporters barricaded themselves inside UkrTransNafta HQ in Kiev for several hours, demanding the reinstatement of Alexsandar Lazorko as CEO following his dismissal from the post by the company’s Supervisory Board.

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