A unified approach for all shareholders: the position of the NSSMC on the payment of Ukrnafta dividends

The NSSMC (National Securities and Stock Market Commission) always stands on the basis of protection of all investors rights, in particular, minority shareholders. We take a unified approach to all participants and depositors, including PJSC Ukrnafta.

The Regulator received a letter from the NDU (National Depository of Ukraine) on the impossibility of partial payment of the dividends to the shareholders of PJSC Ukrnafta, since the Procedure for payment of dividends by the joint-stock company provides only for the simultaneous payment of dividends to all shareholders. The selective payment of dividends is unacceptable for any issuer and contradicts the legislation and generally accepted international rules and norms of corporate governance. The dividends can be paid in tranches, but to all shareholders simultaneously.

The Commission always reacts to violations of the law and regulations. We will carefully study and analyze the situation and actions of Ukrnafta. As a result, if necessary, we will carry out appropriate measures in accordance with the current legislation.