“ Severstal “ separate from raw materialsthe conflict of shareholders
On Friday have passed meetings of shareholders of metallurgical industrial complex “ Severstal “ and its basic supplier of raw materials - Olenegorsky GOKa (OLKON). Both meetings have been noted by conflicts between a management “ Severstal “ and the Moscow company “ the vashfinansovyj trustee “ (VFP). VFP it was possible to receive all places in board of directors GoKa - but “ Severstal “ considers this decision illegitimate. Meeting “ Severstal “ VFP it was not possible to break, but the Moscow company is going to challenge legality of its carrying out in court.
the Moscow investment company “ the vashfinansovyj trustee “ (VFP) it is formed in 1992, specialises on protection and realisation of the rights of minority shareholders. VFP worked on Bratsk aluminium factory (BrAZ), “ Irkutskenergo “ Participated in privatisation of the Nikolaev aluminous factory, recently has got a share holding Kotlas TSBK (the material see this page).
the Olenegorsky ore dressing industrial complex (Open Society OLKON) makes zheleznorudnyj a concentrate, ferrite strontic powders, rubble. Stocks of iron ore GOKa are concentrated in five deposits and make 1065 million t. Ore extraction is made in the open way. Annually the GOK extracts about 10 million t ores (10 % from the all-Russian extraction). The basic consumer of production GOKa is “ Severstal “ which receives from it more than 40 % of all necessary raw materials.
VFP has got 26 % of actions OLKONa which controlling stock owns “ Severstal “ in April of last year (wrote about it). Then the head of the company Vasily Bojko declared that plans to resell papers to group of MDM or “ Severstal “ (the enterprises of last - the basic consumers of production GOKa). However they did not accept the offer price. Within a year VFP continued to buy up papers OLKONa and to meeting of shareholders supervised 31,2 % of actions.
recently “ Severstal “ has begun corporate reorganisation. Actions belonging to it Olenegorsky GOKa it was planned to translate for balance of Open Society “ Severstal - the Resource “. As the intermediate stage them have sold to three Cyprian firms. According to representatives VFP, it is an obvious conclusion of profit: actions have cheaply sold to an offshore and is expensive - “ Severstal - to the Resource “. Head “ Severstal “ Alexey Mordashov says that “ an offshore stage “ it is necessary for optimisation of costs and is a consequence of features of the Russian legislation.
a stock transfer in an offshore has used VFP for strengthening of the positions on GOKe. On behalf of minority shareholder OLKONa Sergey Duvanova some claims have been submitted to the Soviet court of a city of Lipetsk. In them claims to registry holder work " were shown; Severstal “ and OLKONa Joint-Stock Company “ the Partner “ statements for illegality of sale of actions to an offshore without the coordination with other shareholders GOKa also contained. Charter OLKONa allows to carry out such transactions, however in VFP want to challenge and the charter. The court has accepted claims to consideration, in quality obespechitelnoj measures were imposed by a ban for activity “ the Partner “ and an offshore has deprived of the right to vote actions GOKa. Under one claim of this shareholder board of directors OlKoNa has lost powers.
On Friday for participation in meeting of shareholders owners more than 88 % of the capital, including representatives of an offshore were registered. However then court enforcement officers have entered into a hall with security guards and have shown corresponding court orders. As a result schetnaja the commission (its functions carried out “ the Partner “) And board of directors the action of an offshore " have lost the powers, and; Severstal “ - possibilities of participation in voting. In treatment of the further events of the version of two largest shareholders OLKONa differ.
according to the mister Smartly, present at meeting, it has proceeded routinely: the remained shareholders have chosen new schetnuju the commission, the board of directors all seven places in which have got to representatives VFP, and general directors GOKa - Vladimir Maslov. In “ Severstal “ say that the meeting has been recognised by not taken place, and do not recognise powers of the board of directors selected VFP. In the company consider that VFP blackmails “ Severstal “ trying to force to take it shares GOKa at the high price. The head of the company Alexey Mordashov named VFP “ the unscrupulous speculator “.
it is curious that, according to the mister Smartly, VFP has refused sale of actions OLKONa and plans to operate GOKom. According to the mister Smartly, “ Severstal “ it did extremely inefficiently, and VFP has prepared the program of development GOKa and even has found alternative buyers for its production. If “ Severstal “ will interfere VFP, it is threatened with similar problems in other affiliated companies. Now VFP owns a share holding “ Vorkutauglja “ - the supplier of coked coal for “ Severstal “. We will notice that not so long ago concerning managers “ Vorkutauglja “ criminal case has been brought - they have ostensibly bought the mining equipment at inflated price.
RENATA - JAMBAEVA