When transferring Roshen in a blind trust money payment was not carried out, – the Cypriot intermediary company

При передаче Roshen в слепой траст оплата деньгами не проводилась, - кипрская компания-посредник

The Cypriot firm Confectionery Investments Limited, through which the transfer of Roshen in a blind trust, confirmed that the payment of the money Fund PrimeAssetsCapital, the beneficiary of which is the President of Ukraine Petro Poroshenko, during operation is not produced. This is stated in the letter of the legal adviser of the company of the company Dr. K. Chrysostomides & Co LLC.

Here is the full text of the letter:

The translation of the text:

In connection with the issuance by the Company of 18,000 common shares March 25, 2016 (the “Shares”) as legal counsel and Company Secretary we confirm the following:

1. For remuneration in the total amount 3 926 160,00 Euro (hereinafter – “the Remuneration”), the Company issued Shares in favor of PUBLIC JOINT stock company “CLOSED non-DIVERSIFIED CORPORATE INVESTMENT FUND PRIME ASSETS CAPITAL” (the “Subscriber”) on the basis of the Contract on subscription for shares dated 25 March 2016 (the “Agreement”).

2. According to the Agreement, the Subscriber agreed to subscribe for shares in-kind by transferring belonging to the Subscriber of shares in the limited liability company “Central European Confectionery Company”, was registered in Ukraine in favor of the Company. When the issue of Shares payments in cash were not carried out.

3. 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.

4. In our professional opinion, the Agreement and internal registers of the Company are appropriate confirmation of method of payment of subscriptions for Shares, and not the form HE12 provided to the Registrar of Companies of Cyprus.

5. 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. This form, as well as Cyprus law does not contain provisions obliging the Company to accept payment in cash according to the specified form.

6. To us, as the legal adviser of 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. We also received requests of third parties for the provision for review of the documents referred to in paragraph 4 above.

We will remind, on may 19, a financial Advisor group ICU and the legal counsel of the firm Avellum has published papers on the process of transfer to the company of the President of Ukraine Petro Poroshenko Roshen in a blind trust Rotshchild.