“Fake meeting” of PJSC “Motor Sich” did not comply with current legislation drawn

The NSSMC  did not record any signs of lawful activity regaring the convening and intention of holding a general meeting of the PJSC “Motor Sich”.

Within the framework of its powers, the NSSMC took appropriate actions at the address and time specified in the notification regarding the so-called general meeting of the PJSC “Motor Sich”, but did not find any actions that would confirm the intention to hold them legally. As a result, an appropriate protocol of violations was drawn up.

It should be mentioned that the NSSMC previously reported that the actions of certain shareholders cannot be considered as lawful actions to convene and hold a general meeting of PJSC “Motor Sich”, in accordance with the Law of Ukraine on Joint Stock Companies. And also such actions violate the rights of other shareholders of this company.

The process of law enforcement concerning market participants has begun. The NSSMC opened a case for violation of the requirements of the Regulations on Depository Activities dated 23.04.2013 #735 in relation to the depository institution “DRAGON CAPITAL” LLC. In particular, in terms of providing information and organizational support for the holding of illegal general meetings of the “MOTOR SICH” PJSC.

And also for violation of the requirements of Article 35 of the Law of Ukraine on Joint Stock Companies on the procedure for informing shareholders about the general meeting of shareholders of the company.

The NSSMC will continue to provide appropriate oversight of the actions of shareholders and capital market participants, in cooperation with law enforcement authorities.