Smart Holding will continue to assert the right to a share in the energy company Kharkivoblenergo.
It is said in the statement of the company, Ukrainian News Agency reports.
"The ruling of the Cassation Economic Court, adopted on 21 September 2022 to void the contract for the sale and purchase of shares of Kharkivoblenergo JSC by SMART HOLDING (CYPRUS) LTD, is certainly to the benefit of corrupted officials who, obviously, work for this energy company. Since the consolidation of the corporate rights (29.7950%) Kharkivoblenergo JSC, Smart Holding has repeatedly drawn the attention of the State Property Fund, the Ministry of Energy, the National Security and Defence Council, law enforcement agencies and the public to signs of corruption in the company's management that leads to the theft of hundreds of millions of hryvnias and has already put the company on the verge of bankruptcy," said in the statement.
The statement says that the management of Kharkivoblenergo is trying to escape shareholders' attention to their activities, which have signs of corruption, and went to court demanding that the contract for the sale and purchase of shares was declared invalid.
The first two instances justifiably refused to satisfy these requirements. Thought, the ruling of the Cassation Court looks at least incomprehensible. While waiting for the full text of the ruling of the relevant court to clarify further legal actions, Smart Holding declares its readiness to defend its legal right to be a shareholder of Kharkivoblenergo and to eradicate the management. "We call on the Ministry of Energy, as the body authorized to manage the corporate rights of companies owned by the state of Ukraine, to pay attention to signs of corruption in the actions of the management of an enterprise that is of strategic importance for the country's economy and security, the statement" says.
As Ukrainian News Agency reported, Smart Holding concentrated 29.8% of shares in the authorized capital of Kharkivoblenergo in February 2021. Smart Holding controls several enterprises in the mining and metallurgical complex, shipbuilding, mechanical engineering, the agricultural sector, the mining industry (production of non-metallic materials), real estate, finance and insurance.