EcoLur continues to present declarations on the real owners of the companies operating the metal mines in Armenia, which were published within the framework of EITI on the website of State Register Agency of Legal Entities of RA Justice Ministry.
In this publication, we will cover the declaration submitted by russian “GeoProMining Gold” LLC developing Sotq gold mine, the largest one in Armenia.
Armenian Gold and Russian Billionaires
GeoProMining Gold LLC was registered on October 19, 1998. Five real owners have been identified in the declaration: two of them own almost the entire package of shares in the company.
Thus, the first real owner is Russian businessman Siman Povarenkin, who owns more than half of the company's shares, 50.3205%, which he acquired on September 29, 2010. Povarenkin is also a member of the company's board.
The second real owner is Russian billionaire Roman Trotsenko, who, according to Forbes, is the 75th richest businessman in Russia in 2020. Trotsenko acquired 48.1863% shares in the company on March 27, 2019.
The third real owner is Roman Khudolin, a Russian citizen and General Director of GeoProMining Group. There is no information about his share in the declaration. He is also a member of the company's board.
The fourth real owner is Anatoly Gogotin, a Russian citizen and CEO of GeoProMining Gold LLC. There is no information on his share. Gogotin is a member of the board of the company.
The fifth real owner is Oleg Belyaev, a Russian citizen and Financial Director of GeoProMining Group, for whose shares there is no information. He is also a member of the General Meeting of Shareholders and board of the company.
Thus, the real owner of about 1.5% of the company remains unknown. It should be noted that within the framework of the EITI, the company has no obligation to identify the owner with less than 10% shares. According to RA Justice Minister's Order No. 36 dated on February 5, 2020, a real owner is a person who controls or possesses at least 10% of the company's authorized capital with a separate or affiliated person (in case of a person with political influence, regardless of size).
Chain of intermediary companies of general shareholders
For the first real owner, Siman Povarenkin, the intermediaries are “Geiser Asset Holdings LTD (BVL)” in the UK, “Geopromining Investment (SIP) Limited” in Cyprus and “Carlow B.V.” in the Netherlands.
“Geopromining Investment (SIP) Limited” and “Carlow B.V.” are also intermediaries for the second real owner, Roman Trotsenko. Another company registered in Cyprus also acts as an intermediary for him, “Nakilep Overseas Limited (Cyprus)”. There are no intermediaries for the other identified real owners.
May 21, 2020 at 10:54