A minority shareholder, Goldenfrazil holds 3.6% stake in Unipetrol, has sent a list of 38 questions to Unipetrol regarding its financials and plans to Unipetrol and requires these questions to be answered otherwise another EGM will be called up. A request for a EGM should be reportedly delivered to Uniptrol by the end of October hence the EGM may take place before Christmas.
Our view: Note that Goldenfrazil was also behind the previous EGM questioning the sale of Kaucuk and Spolana. As it is a minority shareholder its chances for any changes in the statutes of Unipetrol and termination of the sale of Spolana and Kaucuk are minimal. Nevertheless, Goldernfrazil’s activities may be of a rather disrupting character.