The Cabinet of Ministers of Ukraine has approved a plan to transform the State Enterprise National Nuclear Energy Generating Company Energoatom into a joint stock company with 100% state ownership.
The Government took the decision at a meeting on June 27. The draft decision was prepared by the Commission for the Transformation of SE NNEGC Energoatom, headed by Deputy Minister of Economy Oleksii Sobolev.
In particular, the plan provides for a full inventory of the company’s property in June-July, the selection of a valuation company on a competitive basis to conduct an independent valuation of the property, etc.
In November, it is planned to approve the property valuation report and prepare draft government decisions on approving the deed of transfer of property to the charter capital of the joint stock company, on approving the draft charter of the joint stock company, the regulations on the Supervisory Board, the executive body of the joint stock company, etc. In November, the draft decision on the issue of shares is expected to be submitted to the Government. The actual share issue and transfer of 100% of Energoatom’s issued shares is expected to take place in December.
The process of transforming the state enterprise into a joint stock company with 100% shares owned by the state will be completed in December 2023 – March 2024 with the formation of the Supervisory Board and the company’s executive body in accordance with the established procedure.
The decision was taken in accordance with the Law of Ukraine “On Joint Stock Company “National Nuclear Energy Generating Company “Energoatom””, which provides for the corporatisation of the state enterprise and is in line with the corporate reform implemented by the state.
The transformation of SE NNEGC Energoatom into a joint stock company will improve the efficiency and transparency of the company’s management, help attract investment to the nuclear industry and strengthen Ukraine’s energy security and independence. (Government portal/Business World Magazine)
