IMG International Holding Company Will Incorporate Over 10 Companies from Ukraine, Russia and Kazakhstan14.05.2008
IMG International Holding Company applied to the Securities and Stock Market State Commission of Ukraine (SSMSC) for a security trading license on May 7. The license covers dealing, broking and securities management activities. The charter fund of the Holding is formed in amount of 300,000 hryvnya. Oleg Spilka, the chairman of the supervisory board of Oranta Incorporated, was named its president.
After licensing the Holding intends to sign contracts of shareholding management with stockholders of companies from Ukraine, Russia and Kazakhstan. Companies will be managed through decisions made at their meetings of shareholders. Moreover, representatives of IMG Holding will participate in supervisory boards and boards of directors of these companies. It should be noted that recent meetings of shareholders of Oranta NJSIC (April 25), Oranta Life (March 28) and Oranta Incorporated (May 6) approved their new articles of associations that significantly expand authorities of the supervisory boards.
IMG International Holding Company was incorporated on February 15, 2008 in Kiev. Core activities of the Holding will be securities trading (including dealing, broking and securities management activities, underwriting). In line with the strategic plan, the Holding will incorporate insurance companies of Kazakh investors in Ukraine, Russia and Kazakhstan. On April 17, the Antimonopoly Committee of Ukraine approved setting up of IMG International Holding Company and permitted it to manage more than 50% stakes in Oranta NJSIC and Oranta-Life Insurance Company.
The Holding pursues cost maximization of its companies. Among its major tasks are introduction of unified management standards, consolidated reporting and risk diversification in its companies. In particular these include a common marketing policy, corporate standards, optimization of business processes, legal groundwork and security, investment and project management, brand formation, unified standards of services, cost minimization.
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