The Fund Poroshenko did not pay cash for the shares of company

Фонд Порошенко не платил наличными за акции - компания

When the issue of shares payments in cash were not carried out, said the Cypriot company.

Fund Prime assets capital, the beneficiary of which is the President Petro Poroshenko, did not pay cash subscription to the shares of Confectionary company CEE Investments Limited.

This is stated in a letter to Cypriot firm Dr. K. Chrysostomides & Co LLC., which is the legal counsel for the company CEE Investments Limited Confectionary.

“For a fee in the total amount of EUR 3,926 million Confectionary CEE Investments Limited, issued shares in favor of the Fund “Prime essets Kepital” on the basis of the contract on subscription for shares dated 25 March 2016″, – stated in the letter.

“According to the agreement, the subscriber agreed to subscribe for shares in-kind by transferring belonging to the subscriber shares in the company “Central European Confectionery Company”, was registered in Ukraine in favor of Confectionary Investments Limited. When the issue of shares payments in cash were not carried out”, – the document says.

As noted, after the date of incorporating the company did not open a Bank account, so the only possible method of acceptance of payment for the subscription of shares is to pay in physical and not in monetary form.

“In our professional opinion, the agreement and internal registers of the company and are appropriate confirmation of method of payment of subscriptions for shares, and not the form HE12 provided to the Registrar of companies of Cyprus”, – said in the Cypriot company.

“In this particular case, in the provided form HE12 listed payment type as “cash in kind”, which means that the company could take any of the following methods of payment at its discretion”, – said in the letter.

In Cyprus the firm noted that the specified form, as well as Cyprus law does not contain provisions obliging the company to accept payment in cash according to the specified form.

“We, as legal adviser to the company has not requested comments on this issue. Moreover, Secretary and a Director of the company has not received any queries on this issue”, – stated in the document.

We will remind, earlier published materials of the program <url>.NPO, which indicates that on 25 March 2016, the Foundation of Petro Poroshenko Prime essets capital brought abroad nearly 4 million euros.

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