CYPRIOTE COMPANY ACQUIRES UKRAINIAN INSURANCE COMPANY

CC Continental City Capital LTD (Cyprus) announced the acquisition of 40% and 19.08% of the shares of the insurer Point (Kiev), according to the information base of the National Securities and Stock Markets Commission of ‘Ukraine.
It is also noted that the contract for the purchase and sale of securities with Joint Century Ltd. (Belize) that CC Continental City Capital LTD becomes the owner of 392 voting shares or 40% of the insurer’s share capital was entered into on June 14. On the same day, a sale and purchase agreement was signed with Georgian citizen Armazi Tavadze regarding the acquisition of 187 voting shares or 19.08% of Point.
As reported, on April 30, 2021, the National Bank of Ukraine authorized Rati Tchelidze to acquire a significant stake in insurer Point by indirectly holding 56.02% of the shares.
As reported, the supervisory board of the insurance company on April 9, 2021 terminated the powers of the chairman of the board of directors Levan Bezhashvili and appointed Daria Havrylytsia to this post.
Insurer PJSC Point is the legal successor to insurer CJSC Soborny Capital. It has been operating in the insurance market since 2003. The company specializes in risk insurance.

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