President of Ukraine Petro Poroshenko signed the Law On Introduction of Amendments to Some Legislative Acts of Ukraine regarding raising the level of corporate governance in public companies.
As reported on the official site of the Verkhovna Rada, the respective law (№2302а-д dd. 28 April 2016) was signed by the President on June 1, 2017, Interfax-Ukraine reports.
The law comes into force on the next day after its publication in the official media.
As reported, the law stipulates the implementation of squeeze-out and sell-out procedures in the legislative environment of Ukraine (forced purchase and sale of shares).
According to the draftman’s expectations, it will simplify the process of transforming pseudo-PJSC into CJSC and improve the conditions of withdrawal from the composition of shareholders, the owners of minority share packages, ensuring the guaranteed protection of rights and the opportunity to obtain funds for shares, selling them at the market price, not lower than the price, at which the majority shareholder accumulated his package.
