News

Pelicourt inceased its share in Cub Energy

Ukrainian energy

2013-09-26

Cub Energy Inc. (“Cub” or the “Company”) (TSX-V: KUB) announced today that its largest shareholder, Pelicourt Limited (“Pelicourt”), has informed the Company it has acquired additional common shares of Cub on the open market. Cub’s Chairman and Chief Executive Officer, Mikhail Afendikov, owns a 31% of Pelicourt, and Cub’s Senior Advisor, Robert J. Bensh, owns a 7% interest in Pelicourt, and is Managing Director of Pelicourt.


Pelicourt currently owns 123.3 million common shares of Cub representing approximately 39.5% of the issued and outstanding common shares of the Company. Of the Pelicourt holdings, Mr. Afendikov controls 38.2 million common shares of Cub representing approximately 12.2% of the Company’s issued and outstanding common shares. Through his interest in Pelicourt, Mr. Bensh controls 8.6 million common shares of Cub, representing approximately 2.8% of the Company’s issued and outstanding common shares.


Pelicourt has advised Cub that it intends to acquire additional common shares for investment purposes. The common shares will be acquired through the facilities of the TSX Venture Exchange. Pelicourt has indicated that they will review their holdings from time to time and that they may increase or decrease their position as future circumstances may dictate.

 

Ukrainian energy


Comments

blog comments powered by Disqus

Publications

  • Weekly analytical report: August 18 - 24, 2014

    In this issue: - What ways to bypass EU sanctions Russia tries to find and what scheming they use in energy relations with Ukraine; - How energy resources diversification proceeds in the EU and in Ukraine and what government forecasts; - Are there investigations of abuses on Ukrainian energy markets; - How the situation with energy supply of Donetsk and Lugansk oblasts changed; - What priority anticrisis program in utilities has; - Why prices in oil product markets in Ukraine didn't stabilize.

¬ all publication