I guess the Ukraine is not the happiest place to be doing business (or indeed anything) right now and that brings me to Ukrproduct (UKR) the AIM listed Ukrainian food producer and its curious director resignation time machine.
For today it has announced that its CFO, Ms Tetyana Komarova, has resigned from her position as Director of the Company to pursue other business interests. Her resignation is effective as of 15 November 2013. Yes, that is a month ago. So will she be repaying half her November pay cheque? What about the idea of giving notice? Or does that work in a sort of reverse way in the Ukraine?
This is not exactly a one off. On 25th October this year the company announced that its Marketing and Strategy Director, Ms Kateryna Kryuchko, had resigned as a director of Ukrproduct, to pursue other business interests. That resignation became effective as at 30th August. So did she hand her September pay cheque back?
Surely Ukrproduct is not breaching AIM rules by not announcing resignations as soon as they occur? I called up the corporate advisor Mr Stewart Dickson at Cannacord. Stewart used to be called Stewart Dick but changed his name for some reason that I cannot possibly fathom. Anyhow Mr Dick
Filed under: