The government and the bank's shareholders , " Finance and Credit" have agreed to share
shares, which will state in exchange for financial assistance.

Source "business" in the expert-analytical Cabinet council on the participation of
States in the capitalization of banks said that in exchange for an infusion of capital
Bank "Finance and Credit", 2 1 billion hryvnia government becomes the owner
60% +1 share of the financial institution. In addition, another 15% stake in the bank gets Cabinet
in management. Thus the government will formally observe the basic
recapitalization criterion - the state provides financial assistance to
exchange for control of 75% +1 share of the bank. "In fact, the shares transferred to the
State management will remain in the ownership of the private shareholder
(Konstantin Zhevago. - "BUSINESS"), but the right to vote on these shares will dispose of
Cabinet. That is, when making decisions at the state will be 75% +1 vote
shares, while private shareholders - 25% -1 share, "- explains shareholder rekapitaliziruemogo
Bank "Kyiv" Viktor Marchenko. The Government agreed to increase capital
Bank "Finance and Credit" to 2 1 billion hryvnia in exchange for 60% + 1 share
and the transfer of control of an additional 15% stake. If the recapitalization of financial institution
will take place in such a scenario, we can say that the main owner
Bank "Finance and Credit" Konstantin Zhevago made it more profitable
conditions than the other shareholders of nationalized financial institutions. "Formally,
terms of the recapitalization will be met. In the management of the state will
75% + 1 share. But in fact managed to keep the Zhevago most of the bank,
than owners of other banks, asking for help, "- says chairman
Board Ukrsotsbank Boris Tymonkin. As previously reported ("BUSINESSВ» в„– 64
from 21.04.2009, the) government in exchange for financial aid is going to get
99% stake in the bank "Kiev", Rodovid Bank and Ukrprombank, 91, 8% of the bank "Nadra"
and 75% + 1 share IMEXBANK and Ukrgasbank. The basic question - on what
conditions, the government will receive 15% of its shares to management. "Most likely,
agreement sent to the control 15% of shares is made in such a way that the stock
will be returned to the private shareholder (Konstantin Zhevago. - "BUSINESS") after
of redemption or sale of the investor's state-owned
60% of shares ", - said General Director of" Dagda "
Yuriy Prozorov. According to him, this may not happen before reaching the bank
all regulations prescribed in the program to recapitalize, and before that
shares will be managed by the Ministry of Finance. Stop and there are 60% among participants
market and the other opinion. "The transfer of shares to management - is an ordinary power of attorney
and any time you can challenge the decision of the court. So in any Zhevago
time can take back these shares from the government, "- says chairman
board of a major bank. However, even in this case, control of the bank
will remain entirely in the hands of the government. "60% + 1 share allow
meeting of shareholders and ensure a quorum, which is sufficient to control
bank ", - said Yuriy Prozorov. 75% + 1 share gives right to make decisions
of:-Amendments to the articles of association;-resize
authorized capital of joint-stock company, liquidation and reorganization of joint stock
society. Boris Davidenko, Olga VASILEVSKY

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