Smart-Holding, as the primary shareholder of Amstor Group, has audited the operations of the group’s enterprises and found out that lately the minority shareholder Vladimir Vagorovskiy, who was the managing partner at Amstor Group, using the difficult situation in Eastern Ukraine, committed a number of unlawful acts in violation of Ukrainian laws. Mr. Vagorovskiy’s actions constituted an outrageous infringement on the other shareholders’ rights and were intended for his personal gain.
As a result, we have filed respective complaints to the law-enforcement authorities. Our intention is to make sure that our enterprises continue their stable and efficient operation in strict compliance with the requirements of the effective legislation where lawful rights of all the Company’s shareholders, employees and partners are protected.
At present, armed men, acting on Mr. Vagorovskiy’s orders, are attempting to block a number of Amstor supermarkets. We have contacted the police and tightened our security to ensure safekeeping and integrity of the Company’s valuables and commodities as well as stable operation of our retail centres during the holidays.