Ovostar Union announced delisting from Warsaw Stock Exchange
Ovostar Union Public Company Limited has completed a squeeze-out of minority shareholders and announced its delisting from the Warsaw Stock Exchange.
According to LIGA.net, after the squeeze-out, CEO and Board member Borys Bielikov, Board member Vitaliy Veresenko (66.16% in total through Cyprus-based Prime One Capital Limited) and Canadian holding Fairfax remained the owners of 100% of the shares. Before the squeeze-out, they together controlled about 96% of the stock.
"The Company no longer meets the conditions provided in § 3 sub-paragraph 2 of the Warsaw Stock Exchange Rules (the “Rules”) and therefore, according to the provisions of § 31 sub-paragraph 2(1), of the Rules, the Exchange Management Board may delist the Company’s shares. Notwithstanding the above, the Company intends to file an application for the delisting of the Company’s shares from the Warsaw Stock Exchange," the statement reads.
Within the last two years, Ovostar is not the only company filing for delisting from the WSE. In March 2023, Kernel announced it was starting the delisting procedure.
