Home / Airline news / Authorities in Rostov require the shareholders of JSC “Rostov plant HA No. 412” to buy a stake in the company

Власти Ростова требуют от акционеров АО "Ростовский завод ГА №412" выкупить пакет акций предприятия The arbitration court of the Rostov region on November 28 will hold the session under the claim of Department of property and land relations of Rostov-on-don (DISO) to JSC “Rostov civil aviation plant №412” (RZGA) with the requirement to oblige the JSC to buy out the DISO stake, who is now in his possession (information on this can be found on the court’s website). About it writes Kommersant Rostov-on-don.

As told in court, DISO 1 thousand 161 ordinary share of OJSC “Rostov civil aviation plant №412” (package 5,805%). January 12, 2016 General shareholders ‘ meeting of the JSC took the decision on reorganisation in the form of separation of assets and the creation of a new legal entity. DISO was notified of the meeting, but his representative did not attend it.

22 Jan DISO sent to shareholders RZGA offer to buy his package. It was based on article 75 of the Federal law “On joint stock companies”, which specifies that the owner of the shares has the right to demand redemption if they voted against reorganization of JSC or did not participate in the vote. The law obliges to implement the buyback within 30 days upon receipt of the proposal. However, this did not happen, and DISO appealed to the court demanding to oblige the RZGA shareholders to buy his shares at the market price, which must be determined by special examination. The statement also notes that the Board of Directors has proposed a redemption price in the amount of 350 RUB 10 thousand per share.

In September the court appointed forensic examination, which was entrusted to hold the company “interregional center for economic research”. The expert raised the question: to establish the market value of one share. The results should be submitted before November 10.

RZGA overhauls of aircraft An-12, An-24, An-26, Tu-134, as well as their periodic maintenance. It is the only Russian company, which repaired the Tu-134. Among clients of factory — the Russian defense Ministry, interior Ministry, emergencies Ministry and other state structures. The main owner (81% stake) JSC “Rostov civil aviation plant No. 412” is LLC “primary don” (part of “Group Agrokom” businessman Ivan Savvidi).

According to General Director of “Group Agrokom” Sergei Apatitskogo, the case came to court because of disagreements on the purchase price. Details of the reorganization, OAO “Rostov civil aviation plant №412” Mr. Sapotnitsky refused, saying only that it is aimed at the business optimization.

Meanwhile, in the database Kartoteka.ru there is information about the fact that OJSC “Rostov civil aviation plant №412” reorganized through the allocation and creation of JSC “Rostov civil aviation plant No. 412 — a property complex”. The new JSC is expected to transfer part of the assets of the current AO value of 137 million 712 thousand RUB After the reorganization on the balance RZGA will remain assets worth 224 million 087 thousand.