Pelicourt inceased its share in Cub Energy

Ukrainian 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.


Ukrainian energy


blog comments powered by Disqus


  • Weekly analytical report: May 18 - 24, 2015

    In this issue: - What are the consequenses on sanctions policy; - How is EU diversification policy going and what is Russia's reaction; - What are incentives for increasing gas production in the world; - How integration of energy markets of EU and Ukraine is developing; - How much gas and from where does Ukraine import; - What aspects of tariff policy are argued by politicians; - What energy sector reforms are planned in Ukraine; - How are state authorities trying to change financial position of Naftogaz; - What obstacles is extractive business pointing out; - What is the situation on coal market; - What policy on fossil fuels are they trying to establish in the world.

¬ all publication