OREANDA-NEWS. On 05 March 2009 was announced, that at the meeting of CJSC UVIS-Capital shareholders the decision about the Company liquidation was made. The purpose of the decision is to simplify the structure of the ownership of CJSC Centravis Production Ukraine (facilities of Nikopol stainless tube mill), reduce the volume of documents circulation and optimize the legal structure. When the procedure of CJSC UVIS-Capital liquidation is terminated, the international holding Centavis Ltd will be the 100% owner of CJSC Centravis Production Ukraine.

The decision about liquidation of CJSC UVIS-Capital just consolidates de jure that has been already de facto. Anyway even before shareholders’ meeting Centravis Ltd has already possessed all the shares of CJSC CPU: 62,03% of shares belonged to it directly, other 37,97% of shares — indirectly, via CJSC UVIS-Capital that was the part of the holding structure. Today it was actually decided to exclude a mediated unit from the structure; as a result Centravis Ltd will become the direct 100% owner of its own CJSC CPU production base.

Andrey Natrus, Corporate Policy and Management Director of CJSC Centravis Production Ukraine: “The liquidation of CJSC UVIS-Capital by no means affects current and future liabilities of CJSC CPU and Centravis holding to their foreign contractors. The liquidation of CJSC UVIS-Capital is a planned measure and is aimed at holding legal structure optimization”.