Minority shareholders “Bashneft” dismayed uncertainty on dividends – RIA Novosti

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MOSCOW, Sept. 29 – RIA Novosti. Minority shareholders “Bashneft “disturbed in connection with the investigation of the privatization of the oil company, which has led to a significant drop in securities prices” Bashneft “and raised questions about the payment of dividends, RIA Novosti said the executive director of the Association for Protection of Investors’ Rights (IPA) Alexander Shevchuk.

Last week, the Moscow Arbitration Court at the request of Prosecutor General’s Office arrested belong to JSC “AFK” System “and ZAO” Sistema-Invest “action” Bashneft “. According to the Prosecutor General’s Office, there were irregularities in the privatization of energy companies in Bashkiria, and the agency intends to reclaim the property from illegal possession.

Subsequently, in 2009, the stock of “Bashneft” were bought by “The System”. Investigators believe that this transaction was to deliberately low price – with “discount” of $ 500 million. In this regard, the main owner and chairman of the board of directors of AFK “Sistema” Vladimir Yevtushenko accused of organizing the legalization of drugs and placed under house arrest. According to the “Bashneft”, May 14, “System” and its “daughter” owned 74% of the share capital of the company.

“Now all minority shareholders and” Bashneft “, and investors who do not have investments in securities AFK “System” and its subsidiaries and affiliates, are closely monitoring the situation and asked what was going on. But while no one understands the reasons for what is happening. Many reviewing the risks of investing. Current situation is reflected in the shareholders “Bashneft” and “systems”, see on stock prices. Their cost packages (shares – Ed.) collapsed overnight. dividends now also uncertainty “- said Shevchuk.

As of 18.07 MSK shares” Bashneft “declined in price by 1% . Since 16 September, when Yevtushenkov was charged with money laundering, securities oil company fell by 30%.

Minorities “Bashneft” retain the right to receive dividends, whereas payments to the AFK “System” shall be deposited on the special account. “But the question is how a company will lead to such uncertainty. Not the fact that AFK” System “will vote for the payment of dividends in view of the fact that they are forbidden to conduct any transactions with shares,” – said Shevchuk.