OREANDA-NEWS. June 25, 2010. Korrespondent Magazine published the list of the richest Ukrainians. The major shareholder of SCM Rinat Akhmetov is ranked first. Experts assessed the wealth of Rinat Akhmetov at the amount of USD 17.8 billion. (last year Korrespondent  assessed the wealth of SCM's shareholder at the amount of USD 9.6 billion.).

As Rinat Akhmetov transferred management of his entire business to SCM's team, the evaluation of his wealth published by Korrespondent is an assessment of SCM Group business value.

We feel very positive about such rankings. However, we believe that the data mentioned in them and received with help of certain methods do not give an objective assessment of the business value. Only the market can give an objective value.

As to Korrespondent rating results this year, the increase of the assessed value of SCM Group, in our view, could be explained with:

·       recovery of Ukrainian economy and the global economy as a whole;

·       higher transparency of the Group's business following improvements of the corporate governance structure, completed restructuring, access to financial and non-financial information about the Group's performance;

·       continued investment of SCM Group in modernization of enterprises; higher operating efficiency of our business and its organic growth.

·       M&A activities, in particular acquisition of UCC, American coal mining company.