Ukrtatnafta

THE ASSETS WERE TRANSFERRED TO THE STATE FOR THE PERIOD OF MARTIAL LAW

On November 05, 2022, under the decision of the General Headquarters headed by Volodymyr Zelenskyi, the President of Ukraine, due to the military necessity, according to the Law of Ukraine dated May 17, 2012, No. 4765 “On Transfer, Compulsory Expropriation or Seizure of Property under the Legal Order of Martial Law or State of Emergency”, assets of enterprises of strategic importance, among which Ukrtatnafta, were alienated by the state.  “The seized assets acquired the status of military property and their management was transferred to the Ministry of Defense of Ukraine. After cancellation of the martial law, according to the legislation, such assets will be returned to the owners or their value will be reimbursed. “We have the right to make such decisions in order to provide for the country’s needs under the martial law,” said Oleksii Danilov, the Secretary of the National Security and Defense Council of Ukraine.

Indirect holding of Oleksandr Yaroslavskyi in Ukrtatnafta is 21.2735%. After uplifting of the martial law, DCH Group companies, which were the shareholders of Ukrtatnafta as of the moment of compulsory expropriation of the company’s shares in favor of the state represented by the Ministry of Defense, will employ all legal instruments available to regain ownership of the shares or receive fair compensation for the alienated shares.