By KYIV. Nov 20 (Interfax-Ukraine) – Private joint-stock company (PJSC) Dnipropolimermash (Dnipro), the ultimate beneficiary of which is the owner of the diversified corporation Alef Vadym Yermolayev, will be reorganized into a limited liability company (LLC).
According to an announcement in the information disclosure system of the National Securities and Stock Market Commission, this decision was made on November 17 by the company’s sole shareholder, DPM Holding LTD, registered in the British Virgin Islands.
“PrJSC Dnipropolimermash incurs significant costs for servicing such an organizational and legal form as a joint stock company: costs for confirming ownership of shares, payment for the services of a depository institution, disclosure of information about its activities, etc. These costs are not justified and inappropriate,” according to the statement.
The company said in addition to the opportunity to avoid significant expenses, the reorganization will allow maintaining the usual procedure for managing the company while simplifying some procedures, the principles of transferring ownership rights to a share in the charter capital and exercising the corporate rights of participants.
Founded in 1967, Dnipropolimermash currently specializes, in particular, in the production of molds for vulcanization of parts for pneumatic and solid tires, equipment and spare parts for the metallurgical, mining and processing industries, and cement factories.
Among the customers are machine builders DTEK Energy (Corum Group), Metinvest, ArcelorMittal Kryvyy Rih, NZF.
According to the opendatabot resource, in 2022 the plant received UAH 1.54 million in net profit against UAH 2.55 million a year earlier, with a drop in net income of 43.6% to UAH 261.87 million.
The charter capital is UAH 10.18 million, share par value is UAH 5.25. DPM Holding Ltd owns 100% of the charter capital, Yermolayev is the ultimate beneficiary (according to opendatabot).
According to information on the company’s website, for 2023 the order portfolio was tripled by 2022.
