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.
- Offshore wind industry sets record year for installations in first half of 2015
- White House set to adopt sweeping curbs on carbon pollution
- OPEC frets over oil price volatility
- Bulgaria businesses to stage protest over power price hike
- World Bank rejects energy industry notion that coal can cure poverty
- Scotland woos Chinese investors to energy secto
- Weekly analytical report: July 20 - 26, 2015
In this issue: - How does lifting sanctions impacts Iran and the rest of the world; - How they try to bypass sanctions in Russia; - Why Russian projects do not find support in the EU; - What challenge do both Ukraine and the EU face in electricity sector; - What does the government do to prepare for heating season; - What slows down changes in subsoil use sector; - How do investigations of resonance cases in energy proceed; - What processes take place in Ukrnafta.