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ARMA looking for manager for seized 90.6% stake in Sumy-based Nasosenergomash controlled by Russian citizen

KYIV. March 16 (Interfax-Ukraine) – The Asset Recovery and Management Agency (ARMA) has announced a content to select a manager for the seized 27.999 million shares (90.6065% of the charter capital) of JSC Nasosenergomash Sumy, the ultimate owner of which is a citizen of Russia.

“Assets include securities (shares), the issuer of which is a joint-stock company whose main activity is the production of pumps and compressors, and which are directly owned by a nonresident legal entity,” ARMA said in an announcement on its website.

Documents for participation in the competition are accepted until April 18.

At the same time, the basis for the transfer of the asset to ARMA was the ruling of the investigating judge of the Shevchenkivsky District Court of Kyiv dated July 13, 2022, to whom, according to the register of court decisions, 27.999 million shares of Nasosenergomash, directly owned by H.M.S. Capital Limited registered in Cyprus, were transferred to ARMA.

According to the materials of the ruling, the actual owner and ultimate beneficiary of Nasosenergomash, through the controlled H.M.S. Capital Limited is a citizen of the Russian Federation (Vladimir Lukyanenko), the founder and one of the shareholders of the Russian group company Hydromashservice, which supplies equipment for various industries, “including enterprises of the military-industrial complex of the Russian Federation.”

The activities of the group of companies are controlled by the Ministry of Industry and Trade of the Russian Federation.

“According to available information, JSC Hydromashservice supplies products to Russian defense complex enterprises that directly develop, manufacture and supply military equipment, weapons and ammunition for the needs of the Russian armed forces… Part of this product is produced by JSC Nasosenergomash,” the court said in the materials.

The shares of Nasosenergomash were seized on June 2, 2022.

Nasosenergomash specializes in the development and production of pumping equipment for the oil and gas industry, energy, water management, and the agricultural sector.