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16:42
SHAREHOLDERS TO LIQUIDATE OJSC FIRST KYIV CAR REPAIR PLANT

Kyiv, July 28 (Interfax-Ukraine) –Shareholders in OJSC First Kyiv Car Repair Plant plan to liquidate the company, according to a company report in the mass media.

The liquidation of the plant, the creation of the liquidation commission and setting up a procedure and term for the submission of creditors' claims were put on the agenda of five meetings of shareholders, which are to be held each Wednesday starting from September 9 and ending October 7 in Kyiv.

The State Commission for Securities and the Stock Market said that as of February 2009, an 89.07% stake in the company belongs to Cyprus-based Lafield Finance Ltd, while earlier the stake belonged to Cyprus-based DCH IMMO Ltd.

DCH IMMO Ltd. is affiliated with Development Construction Holding (DCH), which was created to manage the assets of Ukrainian businessman and co-owner of Kharkiv-based UkrSibbank, Oleksandr Yaroslavsky.

Ukrainian mass media reported that Lafield Finance also owns Merefianska Glass Company Ltd. in Kharkiv region, which is part of DCH Group.

In September 2008 the Antimonopoly Committee of Ukraine permitted DCH IMMO Ltd. to buy OJSC First Kyiv Car Repair Plant. The plant was created in 1932 to repair GAZ trucks. It was re-registered as an open joint-stock company in 1995.

In 2008, the plant earned UAH 1.97 million in net income from sales, while its losses exceeded UAH 3.4 million.

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