On July 1, the shareholders of Chumak PrJSC, a leading producer of ketchup and canned vegetables, pasta and oil, decided to change its form of ownership to Chumak Ukraine LLC (limited liability company) to minimize the company’s organizational costs.
The National Securities and Stock Market Commission (NSSMC) published the relevant information on the termination of the PJSC by reorganizing it into an LLC on Wednesday.
“The decision was made to simplify the management system and optimize costs,” the information system said in a statement.
Following the reorganization, the company’s property, rights, cash, liabilities and other obligations will be fully transferred to Chumak Ukraine LLC. At the same time, the shares of Chumak PrJSC will be converted into shares in the authorized capital of Chumak Ukraine LLC, while maintaining the ratio of the number of shares held by the shareholder in the authorized capital. Therefore, one share of PrJSC Chumak with a nominal value of UAH 10.00 will be equal to the value of a share of UAH 10.00 in LLC Chumak Ukraine. The authorized capital will remain unchanged at UAH 699.53 million.
Chumak was founded in 1996 in Kakhovka, Kherson region. The company specializes in the production of ketchups, sauces, mayonnaise, tomato paste, juices, oil, canned vegetables and pasta.
In addition to post-Soviet countries, the company’s products are exported to the United States, Canada, Scandinavia, Germany, the Baltic States, Israel, West Africa, Korea, Bangladesh, and others.
After the occupation of Kakhovka, Chumak resumed production at competitors’ facilities throughout Ukraine and even abroad. Some tomato pastes, sauces, and mayonnaise are produced in Lutsk, Kyiv, and Zaporizhzhia, pasta in Turkey, and oil at one of the special economic zones owned by the Kernel agricultural holding. In 2023, the company’s administration was looking for land to grow tomatoes in Odesa region and intended to start producing ketchup at one of the local plants.
According to the Opendatabot service, in 2024, Chumak increased its revenue by 45.1% to UAH 1.364 billion, net profit by 16.6% to UAH 62.09 million, assets by 8.2% to UAH 705.04 million, reduced debt by 0.7% to UAH 902.82 million, and increased the number of employees by 15 people to 133.
The company’s beneficiaries are currently Karthikesan son of Vairavan Vasudevan son of Vairavan (Singapore) and Panda Dhruba Charan (India) through Crestone Investments Limited.
Tobacco manufacturer JTI Ukraine (Kremenchuk, Poltava region), a member of the Japan Tabacco Inc. group of companies, will pay dividends of UAH 276 million, according to a decision made by the general meeting on April 10.
“Dividends are to be paid in monthly installments within six months from the date of the decision. The method of payment of dividends is directly to the shareholder by transferring these funds by the company in US dollars to the shareholder’s cash account – JT International Holding B.V. (Netherlands),” the company reported in the information disclosure system of the National Securities and Stock Market Commission (NSSMC).
It is noted that the dividend payment period is set from April 26 to October 8 this year.
The amount of dividends in foreign currency to be paid will be determined at the commercial rate of the authorized bank on the date of purchase of foreign currency. In case of payment of dividends from own funds in foreign currency, the recalculation is carried out at the official exchange rate of the National Bank of Ukraine on the date of payment.
According to the YouControl system, JT International Ukraine increased its net profit by 8.0% to UAH 981.21 million in 2024, while its revenue increased by 17.0% to UAH 6 billion 748.22 million.
JT International Holding B.V. owns 100% of the company.
Stanislav Sheikhetov, who owns 8.979% of the shares of Ingosstrakh Insurance Company (Dnipro), has reduced his stake to 0%, according to the insurer’s information posted in the NSSMC system. It is noted that Kariama LLC became the owner of 8.979% of the company’s shares.
As reported, Ingosstrakh Insurance Company was registered in 2004. It specialized in providing services in the field of risk insurance. The company’s general partner in the sale of insurance services was PrivatBank.
Earlier, the National Bank informed the insurer that the information on its ownership structure made it impossible to identify persons who have a significant influence on the company’s management or operations. It argued that none of the insurer’s shareholders owns 10% or more of the shares, and there is no information on persons who, independent of formal ownership, have the ability to exert an equivalent influence on the management or activities of Ingosstrakh. According to the regulator, this is one of the signs of non-transparency of the ownership structure of insurers.
Since the insurance company did not bring its ownership structure in line with the requirements of Ukrainian legislation, on March 23, 2023, the NBU revoked the licenses of Ingosstrakh Insurance Company to conduct financial services business, and on March 29, it removed the insurance company from the State Register of Financial Institutions.
Prime One Capital Limited, the majority shareholder of Ovostar Union, controlled by CEO Boris Belikov and Chairman of the Board of Directors Vitaliy Veresenko, has reduced its stake from 67.93% to 65.93% of the authorized capital.
According to the agricultural holding’s announcement on the stock exchange, the deal to sell 120 thousand shares took place on September 29 at a price of PLN70 per share ($15.87 at the current exchange rate), while the current exchange rate is PLN61.5 per share.
It is specified that Prime One Capital now owns 3 million 956.046 thousand shares.
As reported, the international insurance group Fairfax Financial Holdings (Canada) increased its stake in Ovostar from 17.499% to 27.51% following the transaction on September 13, while the pension fund Generali OFE managed by Generali Powszechne Towarzystwo Emerytlane S. A., which owned 10.93% of the shares.
In this regard, the shares of Ovostar, one of the leading producers of eggs and egg products in Ukraine, were excluded from the list of index participants after the September 26 session: WIG, WIG-CEE, WIG-food and WIG-Ukraine.
“Ovostar no longer meets the criteria of the above indices, as the share of its shares in free-float is less than 10%,” GPW Benchmark said.
As a result, only six issuers remained in the WIG-Ukraine country index, with two accounting for more than 80% of the index basket: “Astarta – 47.083% and IMC – 34.888%, while Ovostar’s share before the exclusion was 19.158%.
The WIG-Ukraine index began to be calculated on May 4, 2011. The base level of 1000 points was taken as December 31, 2010. The WIG-Ukraine is a total return index, so its calculation takes into account both share prices and income from dividends and subscription rights. The index currently stands at 246.6 points.
“In mid-June 2011, Ovostar Union conducted an IPO of 25% of its shares on the WSE at PLN62 per share and raised $33.2 million.
In the first half of 2023, the holding earned $20.63 million in net profit, while it ended the same period in 2022 with a net loss of $19.78 million. Revenue increased by 56.8% to $88.69 million, mainly due to higher prices for its products.
Withine Investments LTD (Cyprus), belonged to MP Vadim Novinsky, on November 13, increased its stake in Unex Bank (Kyiv) to 100% from 94.979975%, according to the information disclosure system of the National Securities and Stock Market Commission.
As reported, Flot Express LLC, owned by Dmytro Yeltyshev, a partner of MP Vadim Novinsky in a number of companies, in September squeezed out the shares of Unex Bank from minority shareholders for the amount of UAH 0.32 with a nominal value of UAH 1.
According to the bank’s report in the information disclosure system of the National Securities and Stock Market Commission, Flot Express with its 4.3638% acted jointly with Withine Investments Ltd.
At the end of August, the companies announced the merger of their stakes, thus entering into ownership of the dominant stake (over 95%) – 99.3438% of the charter capital of the financial institution, or 290.084 million shares out of 292 million of all bank shares.
According to the NBU, as of October 1, 2020, Unex Bank ranked 64th in terms of total assets (UAH 796.827 million) among 74 banks operating in the country.
Australia’s Warana Capital Pty Ltd in 2018 became a minority shareholder of Volia Cable LLC (Kyiv).
According to data on the ownership structure posted on the provider’s website at the end of March of this year, in 2018 Warana Capital Pty Ltd acquired 5.6% of the shares in Volia. Among the new investors of the company is also OL Group Ltd (acquired 8.4%), registered in the Cayman Islands.
At the same time, Eton Park Master Fund Ltd (the Cayman Islands) sold its 5.9%, and Elq Investors II Ltd (London) sold 8.4%.
The press service of the company told Interfax-Ukraine on May 13 that the change of minority shareholders took place in the autumn of 2018.
The key investor of Volia is still the U.S.-based investment company Providence Equity Partners with 34.92%.
Large stakes are also held by SigmaBleyzer (the United States, 15.3%), and the European Bank for Reconstruction and Development (11.7%).
Warana Capital Pty Ltd (Sydney) is a subsidiary investment company of the American company Warana Capital LLC (New York), based in Australia.
