SPF initiates joining Electrotyazhmash to Turboatom

The State Property Fund (SPF) of Ukraine on August 27 initiates an extraordinary meeting of shareholders of JSC Turboatom, at which it submits the issue of joining the Electrotyazhmash plant (both – Kharkiv).

"To join the joint-stock company Electrotyazhmash Plant to the company [JSC Turboatom]," the SPF said the draft resolution of the meeting on this issue.

At present, Electrotyazhmash is a state-owned enterprise.

In Turboatom JSC, represented by the SPF, the state owns over 75.22% of shares.

The agenda of the meeting of shareholders of Turboatom also includes issues of approving the market value of Turboatom JSC shares and changing its name.

According to the draft decision, it is planned to approve the market value of shares of Turboatom, determined by an appraiser selected at an extraordinary meeting of shareholders on August 20, at UAH 1.95 per share (with a nominal value of UAH 0.25).

The name of JSC Turboatom is supposed to be replaced by JSC Ukrainian Power Machines.

Accordingly, it is planned to amend the charter and internal regulations of the company (in particular, the regulation on the principles of forming the company's supervisory board).

Source: www.en.interfax.com.ua