Andrei Melnichenko exits SUEK board, ceases to be company's beneficiary

MOSCOW. March 10 (Interfax) - Andrei Melnichenko has exited the board of directors of SUEK and ceased to be its beneficiary following his inclusion in the European Union's sanctions list, the Russian integrated coal and energy company said in a statement.

The statement does not say how the ownership structure of Russia's biggest col exporter is structured. There is currently no Share Capital information on the company's website, which used to contain information about Melnichenko's beneficial stake held via AIM Capital.

Melnichenko owned SUEK since it was founded in the early 2000s, first together with business associate Sergei Popov and then, following an asset split, on his own. The long-term head of the company, Vladimir Rashevsky received a minority stake.

Melnichenko's stake in SUEK was 92.2% at the end of 2021 and fell to 0% after March 9, the company said.

The SUEK Group includes 30 coal mining enterprises, seven coal washing plants and units, a terminal at Vanino Port in the Khabarovsk Territory, Murmansk Commercial Seaport , repair and mechanical depots in eight regions of Russia, as well as Siberian Generating Company.