"United Mining and Chemical Company" | News | SE “UMCC” will consolidate influence on ZTMC

UMCC
SE “UMCC” will consolidate influence on ZTMC

17.06.2015

On June 17 Verkhovna rada committee for Economic Policy passed a bill №2757 of a member of parliament Pavlo Ryazanenko. He suggested to parliamentaries to take it as a basis and in general in a process of further division.
The document provides quorum reduction of a general meeting of limited liability companies from 60% till 50%. In the opinion of the bill author, relaxation in the requirements to quorum will cut claws of the owners that have not less than 50% stake in companies and will bring management activity of meetings of LLC members to a standstill.
This bill is directly related to “Zaporizhzhya titanium and magnesium combine” LLC, as Cabinet of Ministers transferred the management of 51% of stocks to a State Enterprise “United Mining and Chemical Company” by the ordinance №227, dated April 4. 49% of stocks are held by Dmytro Firtash’s company – Tolexis Trading.
“We keep a watchful eye on a process of the bill consideration and wait for parliamentary approval of it. Such changes will let our company to strengthen management authority at the plant and prevent possible wrecking of meetings at “ZTMP” LLC by another side”, - noted Alexandr Gladushko, Deputy General Director of SE”UMCC”.
“ZTMP” LLC members’ meeting will took place on June 24. “We are going to participate in a members’ meeting of ZTMP in favour of the State”, - Alexandr Gladushko says.