On Thursday, 12 October, Telenor also sent a letter to the President of Kyivstar Igor Lytovchenko asking the company to convene two Extraordinary General Shareholders Meetings (EGMs) in the nearest future. One meeting will address technical amendments to Kyistar’s charter required by the Supreme Court, as well as the election of a new Board of Directors. The other meeting will address financial operations of the company and the approval of a new contract for Mr. Lytovchenko.

"Telenor’s highest priority is Kyivstar and enabling the company to continue to operate normally. Storm has now a chance to show its support for Kyivstar by attending these EGMs. Failure to do so will send a clear signal that Alfa is in fact prepared to harm Kyivstar’s operations, its employees and millions of Ukrainian customers in Alfa’s self-serving pursuit of control that it has not paid for,” said the Head of Telenor's Representative Office in Ukraine, Sigmund Ekhougen. “These meetings address issues relating to Kyivstar’s operations, including dividend payments, the renewal of Igor Lytovchenko’s contract and re-election of the Board of Directors."

Commenting on the proposed changes to the charter, Ekhougen said, "We have proposed reasonable changes to the charter that will bring it into alignment with the Supreme Court’s ruling, while allowing Telenor to maintain its legitimate 5-4 majority on Kyivstar's Board, in accordance with the terms of the Kyivstar Shareholders Agreement and Telenor's 56.5% majority shareholding in Kyivstar. It is now Alfa’s responsibility to demonstrate that it is willing to participate constructively in a civilized business partnership and stop undermining Ukraine’s reputation with its high-profile corporate raider tactics."

Under Kyivstar’s charter, an extraordinary meeting of shareholders must be convened at the request of one or more shareholders holding at least 10% of the voting shares. The meeting must be called 45 days in advance by the company’s President. According to Ukrainian legislation, a shareholder meeting is valid upon 60 per cent attendance.

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