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ARMENIAN OLIGARCH BROTHERS DEPRIVE SELVES OF NEARLY $500 MILLION - NEWSPAPER
June 20, 2013 | 08:00
YEREVAN. - The annual meeting of Armenia's ARMECONOMBANK decided
not to sell dividends as a result of the bank's activities in 2012,
168 Zham daily reports.
"The profit of approximately $850,000, which was formed during the
past year, will be spent on the development of the bank, [and] as
retained earnings.
It turns out that the Sukiasyan brothers-Saribek, Khachatur, and
Robert-, who together own 52.4 percent of the bank's shares, have
deprived selves of a dividend of close to $445,000.
The European Bank for Reconstruction and Development, which owns 25
percent of the shares of the bank, likewise was deprived of the 25
percent of the total dividend.
At the same time, however, the bank's other shareholders-1,150
individuals and 268 state-run and non-state enterprises-, which all
together would have received a dividend of about $192,000, also did
not receive a dividend," 168 Zham daily writes.
News from Armenia - NEWS.am
June 20, 2013 | 08:00
YEREVAN. - The annual meeting of Armenia's ARMECONOMBANK decided
not to sell dividends as a result of the bank's activities in 2012,
168 Zham daily reports.
"The profit of approximately $850,000, which was formed during the
past year, will be spent on the development of the bank, [and] as
retained earnings.
It turns out that the Sukiasyan brothers-Saribek, Khachatur, and
Robert-, who together own 52.4 percent of the bank's shares, have
deprived selves of a dividend of close to $445,000.
The European Bank for Reconstruction and Development, which owns 25
percent of the shares of the bank, likewise was deprived of the 25
percent of the total dividend.
At the same time, however, the bank's other shareholders-1,150
individuals and 268 state-run and non-state enterprises-, which all
together would have received a dividend of about $192,000, also did
not receive a dividend," 168 Zham daily writes.
News from Armenia - NEWS.am