By KYIV. Dec 1 (Interfax-Ukraine) – Shareholders of JSC Ukrainian Energy Machines (formerly Turboatom and Electrotyazhmash, Kharkiv), 75.22% of shares are owned by the state, have approved a number of agreements with Alliance Bank (Kyiv) on obtaining bank guarantees for the fulfillment of the terms of contractual agreements with JSC Ukrhydroenergo.
According to a record of a meeting of the company’s shareholders, which took place on November 17, published on the company’s website, the shareholders, in particular, approved agreements for obtaining guarantees from the bank for securing the obligations of Ukrainian Energy Machines under the agreements for reconstruction of the Kremenchuk HPP and Dnipro-2 HPP.
Some 100% of votes registered for the meeting voted for these decisions (eight votes or 0.000003% of those registered at the meeting voted against). According to the record, the meeting was attended by three shareholders (their representatives) – the owners of 317,819,144 votes, who in total own 75.6012% of voting shares.
At the same time, the participants unanimously voted against the approval of agreements on obtaining similar bank guarantees in JSC TAScombank.
The shareholders approved the organizational structure of the joint-stock company, but again failed to elect the Supervisory Board (five members), because, as noted in the record, the Cabinet of Ministers did not decide on the approval of candidates for the positions of members of the Supervisory Board (there is no competitive selection during martial law).
The agenda of the meeting also included the issue of conservation of property of JSC Ukrainian Energy Machines with the approval of the list of such property, but the shareholders abstained from voting on this issue.
The meeting selected BDO LLC to audit financial and other statements for 2022, setting the amount of payment of UAH 845,000, and TAScombank to provide custody services. The shareholders also selected Intellect Solutions LLC as an appraiser of the company’s real estate with a fee of UAH 95,000.
Also, the shareholders provided preliminary consent to the conclusion of a number of contracts, in particular, with JSC Eurasian Energy Corporation for the reconstruction of turbine and generator equipment at Nos. 7-8 of the Aksu TPP (with a total marginal cost of $79 million), as well as with the Ekibazstuz-1 coal-fired power station with a total marginal cost of $52 million.
In addition, the meeting gave a preliminary consent to receive bank guarantees for concluding contracts with the Kozloduy NPP (Bulgaria), and with Energoatom.
In addition, the shareholders preliminarily approved the conclusion of a land lease agreement in Kharkiv with an area of more than 2.27 hectares for the construction of a physical culture and sports facility during the year.
In total, 27 issues were included in the agenda, however, among them there were no plans to create branches in western Ukraine (they were included in the agenda of previous meetings that did not take place).
JSC Ukrainian Energy Machines is the only Ukrainian manufacturer of turbine equipment for hydro, thermal and nuclear power plants. The company also produces, in particular, electric motors for railway and urban transport (the range of Electrotyazhmash).
