Media Group Ukraine’s statement regarding the competitive selection of an administrator for Ukrainian Media Holding (UMH), re-announced by the National Agency of Ukraine for Finding, Tracing and Management of Assets Derived from Corruption and Other Crimes (ARMA)

Published Tue, 1 September, 10:08

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Media Group Ukraine’s stand on the non-compliance of the competition with the applicable legislation remains unchanged. Prior to the announcement of the competition, an audit of the assets to be tendered was to be conducted, and the bidders were to be provided with information about the assets to allow drawing up objective business plans for the development of UMH assets. However, the ARMA is holdings the competition purely pro forma, despite the requirements of the legislation and common sense.

In order to have access to the information related to the competition and to control its course, Media Group Ukraine submitted its documents for participation in the competition (the publishing house Segodnya Multimedia LLC being the bidder representing Media Group Ukraine). The guaranteed amount of contributions to the budget specified in the application by Media Group Ukraine is UAH 1.

We believe that the competition should be cancelled. Property, proprietary and corporate rights, securities of the Ukrainian Media Holding should be transferred in accordance with the effective law of Ukraine.

We reserve the right to file a lawsuit in court and appeal against the actions of the ARMA.

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