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Below 20% in the total volume of voting shares, the shares of Titan and two Cyprus offshore companies in Vanino decreased - EastRussia | Far East

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Below 20% in the total volume of voting shares, the shares of "Titan" and two Cypriot offshore companies in "Vanino"

Below 20% in the total volume of voting shares decreased
This was reported today stevedoring company.

Date of change - March 31 2016. CJSC Titan owned 24,99% ordinary shares (18,75% authorized capital), Ouern Trade Limited - 23,68% ordinary shares (17,76% authorized capital) and Statula Holding Limited - 21,64% ordinary shares (16,23% authorized capital).

“Exclusion of CJSC Titan, Opern Trade Ltd. and Statula Holding Ltd. from the list of affiliates is due to a decrease in the level of voting shares owned by these companies due to non-payment of dividends on preferred shares.

Non-payment of dividends resulted in a change in the status of preferred shares from non-voting to voting, which, in turn, led to a decrease in the shares of these companies in the total votes below 20% (the threshold for inclusion in the list of affiliated persons) Titan, Opern Trade Ltd. and Statula Holding Ltd from the list of affiliates. The composition of the majority shareholders of the port of Vanino remains unchanged, ”the company said, according to RIA Novosti.

Port "Vanino" - the largest stevedoring company in the Far East. The port handles coal, non-ferrous and ferrous metals, timber, lumber, ore, containers, vehicles. The structure of Mechel, owned by Igor Zyuzin, bought shares of the port of Vanino in the framework of privatization in 2012. Subsequently, most of the shares of the port was in the possession of offshore companies.