AVELLUM Advises Shareholder of PJSC

“Commercial Bank “Center” on Increasing Its Charter Capital

AVELLUM advised Public Joint

Stock Company “Commercial Bank “Center” (“PJSC CB “Center”), a

regional Ukrainian bank, and its sole shareholder Mr. Hamed Alikhani on

increasing the charter capital of PJSC CB “Center” to UAH200 million. AVELLUM

advised the clients on a number of corporate, regulatory, and securities issues

related to increasing the charter capital, and on further acquisition of new

shares in PJSC CB “Center”.

AVELLUM prepared all the

documents for the issuance of new shares by PJSC CB “Center” and the

acquisition of such shares by Mr. Hamed Alikhani. Moreover, we advised on

obtaining the necessary approvals from the National Bank of Ukraine (“NBU”)

and the National Securities and Stock Market Commission.

PJSC CB “Center” performed

additional capitalisation to comply with the capital requirements of the NBU.

According to such requirements, Ukrainian banks must have a minimum charter

capital of UAH200 million by 11 July 2017.

In 2016, AVELLUM acted as the

Ukrainian legal advisor to Mr. Hamed Alikhani on obtaining the approval of the

NBU for the acquisition of the qualifying shareholding in PJSC CB “Center”.

We have also advised Mr.

Hamed Alikhani on obtaining a merger control clearance of the Antimonopoly

Committee of Ukraine for the acquisition of PJSC CB “Center”.

AVELLUM team working on this project was led by the managing

partner Mykola Stetsenko, with support from senior associate Andriy Romanchuk

and associates Dmytro Tkachuk, Andrii Gumenchuk, and Anton Arkhypov.