Former MP Novinsky is trying to seize control of Kharkivoblenergo

Kharkivoblenergo JSC announces an attempt by former MP Vadym Novynskyi, who owns almost 25% of the company's shares through his controlled company Smart Holding, to seize control of the energy company.

Source. This was reported by Interfax-Ukraine.

"Due to the personal sanctions imposed on Novynskyi back in December 2022, he was not allowed to vote at the general meeting of Kharkivoblenergo JSC through his company. However, on the eve of the general meeting of Kharkivoblenergo, Novinsky's shares somehow became voting again. "Vadym Novynskyi and the depositary institution Standard LLC, which is actually controlled by him, completely ignored the requirements of the law and the decree of the President of Ukraine in order to seize power in Kharkivoblenergo JSC," the press service of Kharkivoblenergo said in a statement.

"The aforementioned actions in the context of military aggression and constant enemy attacks on energy infrastructure facilities are unacceptable and must be immediately stopped by the Security Service of Ukraine and the Ministry of Justice of Ukraine," the statement reads.

According to the authors of the statement, the registration of Smart Holding's voting shares and their actual unblocking became possible with the assistance of a depository institution controlled by Smart Holding, which provided inaccurate data to PJSC National Depository of Ukraine during the software upgrade without taking into account the sanctions imposed by the National Security and Defense Council and approved by a presidential decree.

As the press service of Kharkivoblenergo explained to Interfax-Ukraine, the meeting held online on December 25 elected a new composition of the company's Supervisory Board.

"The results of the voting must be published within 10 days from the date of the meeting. The Supervisory Board is the body that appoints and dismisses the company's management and decides on important issues of the company's operations. Accordingly, if it includes representatives of Smart Holding, they will also have the opportunity to influence these processes," the press service said.

In connection with the incident, Kharkivoblenergo appealed to the Security Service of Ukraine. In addition, the National Securities and Stock Market Commission was notified of the depository institution's violation of the procedure for conducting depository activities.

As reported, President of Ukraine Volodymyr Zelenskyy enacted the NSDC decision "On Certain Aspects of the Activities of Religious Organizations in Ukraine and the Application of Personal Special Economic and Other Restrictive Measures (Sanctions)" by decree of December 1, 2022, according to which sanctions were applied to Novinsky.

The sanctions package contains 12 types of restrictions, including a complete blocking of assets, a ban on trading operations, deprivation of all state awards and honors, a ban on withdrawing capital from Ukraine, etc.

Background. As reported, the court arrested 72 companies of the sanctioned oligarch Novynskyi.