04 June 2004 05:51
Yukos to part with Sibneft in autumn
MOSCOW. June 4 (Interfax) - Yukos must return shares to Sibneft shareholders this autumn under a Federal Securities
Commission regulation passed in 1998 stipulating that shares must be returned within five months of receiving written
notification annulment of a share issue.
Yukos now has three days to notify the Federal Financial Markets
Service it has received court notice of the cancellation of the
The Moscow Court of Arbitration on May 31 upheld a ruling by a lower court of March 1 in a lawsuit brought by Nimegan
Trading Limited and Gemini Holdings Limited to declare a Yukos share issue placed for the merger of Yukos and Sibneft
invalid.
The Yukos chairman will then have five days to form a commission
to return the shares and reimburse investors. The shares must be
additional share issue. The service will then annul the issue.
recovered with four months and investors must be repaid within one month, so Sibneft shareholders will get back the
shares used for the exchange for Yukos shares. [RU EUROPE ASIA EEU EMRG ENR CRU OIL MRG] lt < SIBN.RTS >
[Interfax] |
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