|
|
Article: Terminator: Yukos Brings Final Curtain Down On VNK.(Mergering of Eastern Oil Co.)(Brief Article)
- Article from:
- NEFTE Compass
- Article date:
- June 18, 2003
CopyrightCOPYRIGHT 2003 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Yukos has finally completed its consolidation of Eastern Oil Co. (VNK), whose legal status as a separate corporate entity will now be terminated.
Putting an end to the long-running saga, shareholders in the two companies voted at a joint extraordinary general meeting to convert VNK shares into Yukos stock at a rate of 120 common shares of VNK to one Yukos share.
In line with the consolidation, Yukos shareholders approved the decapitalization of 27,172 common Yukos' shares, which were cancelled in accordance with Russian law.
Yukos and VNK shareholders held extraordinary general meetings in the beginning of the year clearing the way for the two ...