The prosecutor’s office announced its stance on the seizure of shares of private investors 08:45

The Prosecutor’s Office of the Perm Region believes that none of the shareholders of the Solikamsk Magnesium Plant can be considered a bona fide buyer of shares. This was reported by the press service of the ministry and quoted: RBC.

During the inspection, the Perm prosecutor’s office found that the privatization was carried out by an unauthorized body and that it did not send documents on the planned transformation of the plant into a joint-stock company to the State Property Committee of Russia, “thus depriving it.” The opportunity to submit relevant materials for approval by the government of the Russian Federation.

According to the prosecutor’s office, shareholders who purchased the plant’s securities on the Moscow Stock Exchange (securities were freely traded on the site until October 2022) are also not considered bona fide buyers.

“Those who currently own shares in the facility are not bona fide buyers, regardless of the method of acquiring the securities, because the specified property was transferred from the Russian Federation against their will,” the prosecutor’s office summarized.

On March 22, the Arbitration Court of the Perm Region satisfied the prosecutor’s office’s claim for the seizure of shares of private investors of the Solikamsk magnesium plant due to the illegal privatization of the enterprise in 1992. 89.4 percent of the shares were purchased from the majority shareholders in favor of the state. Following this, the shares of minority shareholders (10.6%) were confiscated.

On March 28, on the claim of the Deputy Prosecutor General of the Russian Federation, the Arbitration Court of the Ivanovo Region mercenary Shares of the Ivanovo Heavy Machine Tool Plant are in favor of the Russian Federation.

Putin before remindedThis deprivation must take place strictly in accordance with the law.

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Source: Gazeta

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