Ovostar Agro Holding proposes that its shareholders waive the payment of dividends for the year 2023 and allocate the entire net profit of $44.975 million to the retained earnings reserve.
According to the company’s announcement on the Warsaw Stock Exchange, the relevant issue is on the agenda of the annual shareholders’ meeting scheduled for August 21.
Other issues include the re-election of one of Ovostar’s three non-executive directors, Markiyan Markevich.
As reported, the company last paid interim dividends for 2022 of EUR3.6 million at the rate of EUR0.65 per share, but then refused to pay the final dividend.
Ovostar Union is a vertically integrated holding company, one of the leading producers of eggs and egg products in Ukraine. “In 2023, Ovostar increased its net profit by 7.4 times to $45 million, EBITDA by 4.5 times to $50.4 million, and revenue by 20% to $162.5 million.
In mid-June 2011, the group’s holding company, Ovostar Union N.V., conducted an IPO of 25% of its shares on the WSE at PLN62 per share ($22.78 at the then exchange rate) and raised $33.2 million.
At the end of May this year, the majority shareholders of the agricultural holding, CEO Boris Belikov and board member Vitaliy Veresenko, who own 65.93% of the shares, announced that they, together with Fairfax Financial Holding, had accumulated 95.45% of the shares in the agricultural holding and were ready to buy out the remaining 4.55% of the shares held by minority shareholders. During the announced voluntary buyout at a price of PLN70 (about $17.5) per share, they acquired another 56,027 shares, or 0.934%, and now own 96.383%.
“The offerors intend to exercise the squeeze-out right … in order to acquire 100% of the company’s shares at a price of PLN70 per share,” Ovostar said in early July, recalling its delisting plans.
Currently, Ovostar shares are listed on the stock exchange at PLN68.6 per share.
The shareholders of Sukha Balka Mine (Kryvyi Rih, Dnipropetrovska oblast), a part of Aleksandr Yaroslavskyi’s DCH Group, intend to allocate part of the company’s retained earnings for 2007, 2008, 2012, 2020 and 2022 in the amount of UAH 1 billion 4.865 million to pay dividends.
According to the agenda of the extraordinary general meeting of shareholders to be held on July 12 remotely, part of the net profit for 2007 in the amount of UAH 74 million 527.49 thousand and part of the net profit for 2008 in the amount of UAH 131 million 469.85 thousand are to be allocated for dividends.
In addition, it is proposed to allocate part of the net profit for 2012 in the amount of UAH 77 million 877.04 thousand, part for 2020 – UAH 240 million 330.23 thousand and part for 2022 – UAH 480 million 660.45 thousand for dividends.
“To pay dividends to the company’s shareholders for 2007, 2008, 2012, 2020, 2022 at the rate of UAH 1.2 per ordinary share, in particular: UAH 0.089 for 2007; UAH 0.157 for 2008; UAH 0.093 for 2012; UAH 0.287 for 2020; UAH 0.574 for 2022,” the draft resolution of the meeting states.
As reported, in 2023, Sukha Balka PrJSC reduced its net profit by 2.7 times compared to 2022 – to UAH 114.837 million from UAH 487.878 million.
According to the results of 2022, Sukha Balka PrJSC decreased its net profit by 2.7 times compared to 2021 – to UAH 487.878 million from UAH 1 billion 326.460 million.
It was also reported that an extraordinary meeting of shareholders of Sukha Balka on July 10, 2023 had already decided to allocate UAH 1 billion 4.865 million from retained earnings for 2008, 2010 and 2011 to pay dividends.
Sukha Balka Mine is one of the leading mining companies in Ukraine. It produces iron ore by underground mining. It includes Yubileynaya and Frunze mines. Frunze mine.
DCH Group acquired the mine from Evraz Group in May 2017.
According to the NDU for the first quarter of 2024, Yaroslavsky, who is designated as a non-resident of Ukraine (British citizen – IF-U), directly owns 77.4193% of the mine’s shares, and a resident individual, Artem Aleksandrov, owns 20%.
The authorized capital of Sukha Balka PrJSC is UAH 41.869 million, with a share par value of UAH 0.05.
The shareholders of PrJSC “Production Association “Stalkanat” (Odesa) intend to allocate UAH 60 million 511.837 thousand for dividends at the rate of UAH 0.58 per share from the profit for 2023.
This issue is included in the agenda of the general meeting of shareholders scheduled for April 18 this year, which is held remotely.
The draft decision specifies the dividend payment period – until October 31, 2024.
The payment will be made directly to shareholders’ accounts.
The shareholders will also summarize the company’s performance in 2023, in particular, they will hear the CEO’s report on the company’s financial and economic activities for the past year, determine the main areas of activity, and make decisions based on the results of the report. They will also consider the report of the Supervisory Board for 2023 and the auditor, and make decisions on them.
They will also decide on the distribution of the company’s profit for 2023. It is proposed to allocate UAH 60.5 million to dividends, and leave the rest of the profit undistributed. At the same time, the documents do not specify the amount of profit earned by the company in 2023.
As reported, the extraordinary general meeting of shareholders of PAO Stalkanat held on February 22, 2024, decided to conduct an additional issue of shares with a doubling of the company’s authorized capital. It is planned to place an additional 104 million 330,753 thousand ordinary registered shares with an existing par value of UAH 0.17 and increase the authorized capital from UAH 17 million 736 thousand 228.01 to UAH 35 million 472 thousand 456.02.
The placement of shares will be carried out in one stage from May 1 to May 31, 2024 inclusive (exclusively among persons who are shareholders as of February 22, 2024).
According to the official information of the company, 100% of the funds raised from the share issue in the amount of UAH 17 million 736.228 thousand will be used to repay the obligations under the loan agreement dated September 28, 2012 between PJSC “Stalkanat” and the First Ukrainian International Bank (FUIB).
The company’s information states that no dividends were accrued or paid in 2019, 2020, and 2021. According to the results of 2022, dividends in the amount of UAH 197 million 185.123 thousand were accrued and paid, excluding taxes, in the amount of UAH 1.89 per share. In 2023, dividends were accrued in the amount of UAH 105 million 374,060 thousand and paid out, net of taxes, in the amount of UAH 1.01 per share. Also, on February 22, 2024, the meeting decided to allocate UAH 60 million 511,837 thousand for dividends at the rate of UAH 0.58 per share. The dividend payment period is from March 20 to August 14, 2024.
“Stalkanat is one of the largest producers of steel ropes and reinforcing strands in Eastern Europe and a leader in the production of hardware products in Ukraine.
As of January 22, 2024, David Nemyrovsky holds a 50% stake, Anton Mikhalenko – 23.7%, Maria Kondratyuk – 23.1%, and Vitaly Dubovich – 3.199998%.
The authorized capital of Stalkanat currently amounts to UAH 17.736 million, with a share price of UAH 0.17.
The shareholders of Forte Life Insurance Company (Kyiv) at a meeting on February 23 decided to increase the authorized capital by UAH 31 million to UAH 48 million, according to the information disclosure system of the National Securities and Stock Market Commission of Ukraine (NSSMC).
It is also noted that the nominal value of one share is UAH 1 thousand, and the placement price is UAH 4,541 thousand.
The purpose of the placement of securities is to bring the authorized capital in line with the Law of Ukraine “On Insurance”. The proceeds will be used to place on deposit accounts in banking institutions, purchase domestic government bonds, and acquire other assets acceptable in accordance with the Law of Ukraine “On Insurance” and the regulations of the National Bank.
The notice also specifies that the placement of shares may lead to a change of ownership of a large block of shares in the issuer. At the time of the decision, the owner of 99.8% of the company’s authorized capital is Oksana Kuleshina.
As reported, Forte Life Insurance Company (formerly Insurance Union Life), registered in 2005, specializes in providing life insurance services.
In February 2021, the company announced that Astrum Ukraine LLC, which owns 99% of the shares of Forte Life Insurance Company (Kyiv), reduced its stake to 0%, and Oksana Kuleshina became the owner of this stake.
The shareholders of PrJSC “Production Association “Stalkanat” (Odesa) intend to reconsider the issue of allocating UAH 60 million 511,837 thousand for dividends at the rate of UAH 0.58 per share from retained earnings for part of 2022.
This issue is included in the agenda of the extraordinary general meeting of shareholders scheduled for February 22 this year, which is held remotely.
The draft decision sets a new dividend payment deadline of August 14, 2024.
The payment will be made directly to shareholders’ accounts.
Earlier, the extraordinary general meeting of shareholders of PJSC “PA “Stalkanat” held on November 14, 2023, allocated UAH 60 million 511 thousand 836.74 to pay dividends from retained earnings for 2022, assuming that there were UAH 0.58 of dividends per share. The dividend payment period was previously set from December 5, 2023 to May 14, 2024.
At the meeting on February 22, 2024, the shareholders also intend to renew the composition of the Supervisory Board. In addition, they intend to increase the amount of previously approved agreements for the purchase of raw materials for production.
“Stalkanat is one of the largest producers of steel ropes and reinforcing strands in Eastern Europe and a leader in the production of hardware products in Ukraine.
According to the company, as of the end of 2022, David Nemyrovsky (Ukraine) holds 50.0001% of Stalkanat shares, Anton Mikhalenko – 23.7%, Eder Liron (both Israel) – 23.1%, and Vitaly Dubovich (Ukraine) – 3.1999%.
The authorized capital of Stalkanat is UAH 17.736 million, with a par value of UAH 0.17 per share.
The shareholders of Gliny Donbassa PrJSC (Shlyakhove village, Donetsk region) intend to select an audit company to audit the financial statements for 2023.
“To select and appoint an audit entity to provide services for the statutory audit of the company’s financial statements for the year 2023 (for the period from January 1, 2023 to December 31, 2023),” reads the agenda of the extraordinary shareholders’ meeting scheduled for December 29, which will be held offline.
As reported, in 2022, Donbass Clays reduced its net profit by 9.4 times compared to 2021 – to UAH 32.217 million from UAH 302.512 million, with retained earnings at the end of the year amounting to UAH 228.193 million.
Hlyny Donbassa was established in 1995. The company is engaged in the extraction and supply of clays and composites from deposits in Donetsk Oblast.
As reported, at the end of 2015, the Dutch Watts Blake Bearne International Holdings B.V., a part of the British Watts Blake Bearne (the world’s largest producer of lump clay – IF-U), increased its stake in the authorized capital of Donbass Clay PJSC to 99% from 49%.
According to the fourth quarter of 2022, Watts Blake Bearne International Holdings B.V. owns 99% of the company.
The authorized capital of Gliny Donbassa PrJSC amounts to UAH 526.9 thousand.
