RusHydro recovered its shares from the liquidated Irish company through the court
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The Arbitration Court of the Krasnoyarsk Territory satisfied the claim of PJSC RusHydro (MOEX: HYDR) to VTB Registrar JSC (the holder of the register of shareholders of RusHydro) on recognition of ownership of more than 8 million shares of the company owned by the liquidated Cossington Overseas Limited (Ireland). The court hearing took place today, October 12, it follows from card indexes court.
RusHydro filed a claim with the court at the end of July. The company indicated that Cossington Overseas Limited was liquidated more than five years ago, but its shares were not distributed among the new owners, which is why they were ownerless property. RusHydro noted that the presence of a liquidated person in the company’s shareholder register prevents the free circulation of shares, since the dividends to be paid were actually frozen.
RusHydro is the largest electric power company in Russia, uniting state energy assets in Siberia and the Far East with a total capacity of 38 GW. The main shareholder of RusHydro is the Federal Property Management Agency (62.2%), 12.37% belongs to VTB (MOEX: VTBR), another 9.61% – En+ Group (MOEX: ENPG).
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