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.