Russian cbank offers to limit minority owners’ rights to request info

MOSCOW, Oct 22 (PRIME) -- The Russian central bank wants to extend the list of data which must be provided by share issuers but limit the right of minority shareholders to request additional information, First Deputy Chairman Sergei Shvetsov said during a conference on Thursday.

Shvetsov said that there are cases when a minority shareholder begins to revise policies of a company after purchasing “a bunch of shares”.

“This means that he does not trust the board of directors, this means that he does not trust external audit and managers,” Shvetsov said.

Russian courts held hearings of claims of then anti-corruption blogger and minority shareholder of oil pipeline monopoly Transneft Alexei Navalny over his access to Transneft’s board meeting protocols and audit documents in 2011. The materials were later published.

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