Business news from Ukraine

REPRESENTATIVE OF SWISS SORBES TO HEAD SUPERVISORY BOARD OF UKRAINIAN MANUFACTURER OF POLYWOOD AND FLAKEBOARD

19 April , 2018  

Ukrplyta LLC (Kyiv) has become the owner of an 88.018% stake in the large Ukrainian manufacturer of polywood and flakeboard – private joint-stock company Fanery and Plyty (Fanplyt, Kyiv). The company acquired over 86.49% of shares (119,189 shares) from private joint-stock company Fanplyt Personnel at the price of UAH 51 per share of a face value of UAH 50. According to the report, PrJSC Fanplyt on its website said, referring to the notification received from Ukrplyta LLC, that the sale and purchase agreement was signed on March 29, 2018.
According to the public register, the owner of 100% in Ukrplyta LLC with a charter capital of UAH 7,400 is Cyprus-based Vetesha Investment Limited. The ultimate beneficiary is not mentioned.
According to a draft decision of the company’s shareholders at a meeting scheduled for April 26 posted on the Fanplyt’s website, the company plans to re-elect its supervisory board and elect Bohdan Tsuprik as chairman of the supervisory board as a representative of Ukrplyta LLC.
Tsuprik is head of Sorbes Ukraine LLC, founded by Switzerland’s Sorbes LLC. He also heads the sector committee of the European Business Association. Sorbes Group in Ukraine owns two large wood processing enterprises: Swispan Limited LLC (Kostopil, Rivne region) and Interplyt Nadvirna (Ivano-Frankivsk region). The new shareholders of Fanplyt plan to re-elect the company’s board at the meeting: Palladiy Horbatiuk would be replaced by Volodymyr Hantsiuk. Horbatiuk would remain a member of the board.

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