Pelicourt inceased its share in Cub Energy
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.
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In this issue: - Why did the EU not introduce new sanctions against Russia; - What is the result of the trilateral gas meeting between Ukraine, the EU and Russia; - How develop the negotiations about the Turkish stream; - What plan the parties with launch of Transanatolian gas pipeline; - How will Ukraine seek increase of gas supply from Europe; - How increase tariffs and utility payments and what is done to secure payment discipline; - What steps are made to increase trasnparency of energy companies; - What is the situation in Ukrainian energy generation; - What initiatives are voiced to solve the "green" tariffs issue; - How proceeds the diversification of nuclear fuel supply to Ukraine; - What is the governmental forecast for Ukrainian gas production after increase of rent cost; - How the situation around Ukrnafta develops.