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.
- Political developments in Ukraine won't stop from signing agreement with Slovakia on gas reverse flows - Oettinger
- In Europe they negotiate how to strengthen
- Lithuania urges the EU not to delay completion of the probe against Gazprom
- Ukraine, Slovakia may sign agreement on reverse gas supplies by year-end
- Ukraine modernizes its energy sector
- Unique equipment installed on Dniester PSPP
- They want in Serbia the EC to discuss with Russia the renegotiation of the South stream
Development of biogas technologies in Ukraine and Germany: regulatory and legal framework, status and prospects
The development of biogas technology in Ukraine creates a combined positive effect, including both the energy and the environmental and social aspects, as well as contributes to the fertile land revival.
European-Russian gas partnership threatens to unravel
Russia’s policies are even risking the whole future of gas in the European energy market, argues Frank Umbach, Associate Director at the European Centre for Energy and Resource Security (EUCERS), King’s College, London. He calls for “mutual preventive diplomacy” to improve relations. Such diplomacy should also address the lack of a legal instrument to guarantee Western investments in the Russian energy sector.
- Weekly analytical report: December 2 - 8, 2013
Analysis of last week's key events provided by the "DiXi Group" experts.