ORDER OF FUND OF THE STATE-OWNED PROPERTY OF UKRAINE

of December 23, 2019 No. 1456

About approval of the Procedure for determination of estimated value of blocks of shares of the joint-stock companies offered for sale at auction

According to the laws of Ukraine "About Fund of state-owned property of Ukraine", "About privatization of the state-owned and municipal property", "About property assessment, property rights and professional estimative activity in Ukraine", for the purpose of reduction of regulatory legal acts of Fund of state-owned property of Ukraine in compliance with Item 73 of the Technique of assessment of property approved by the resolution of the Cabinet of Ministers of Ukraine of December 10, 2003 No. 1891 (in edition of the resolution of the Cabinet of Ministers of Ukraine of February 20, 2019 to No. 224), I ORDER:

1. Approve the Procedure for determination of estimated value of blocks of shares of the joint-stock companies offered for sale at auction which is applied.

2. Declare invalid the order of Fund of state-owned property of Ukraine of January 23, 2004 No. 105 "About approval of the Procedure for determination of estimated value of blocks of shares of the joint-stock companies offered for competitive sale", registered in the Ministry of Justice of Ukraine on January 31, 2004 for No. 135/8734 (with changes).

3. To provide to department of assessment of property, property rights and professional estimative activity submission of this order on state registration in the Ministry of Justice of Ukraine in the procedure established by the legislation.

4. To impose control of execution of this order on the vice-chairman of Fund according to distribution of functional obligations.

5. This order becomes effective from the date of its official publication.

Approved by the Order of Fund of state-owned property of Ukraine of December 23, 2019, No. 1456

Procedure for determination of estimated value of blocks of shares of the joint-stock companies offered for sale at auction

I. General provisions

1. This Procedure determines the procedure of carrying out the standardized assessment of blocks of shares of the joint-stock companies formed in the course of privatization (corporatisation) which according to the Law of Ukraine "About privatization of the state-owned and municipal property" treat subjects to big privatization, in the course of preparation for which sale the adviser and which are subject to sale at auction is not elected. This Procedure determines requirements to form of the appraisal report of blocks of shares of joint-stock companies and procedure for their creation.

The standardized assessment of the block of shares of joint-stock company (further - the Block of shares) is conducted by privatization authority independently in a month of date of assessment, except cases when date of assessment is appointed to the last date of January. The term of carrying out the standardized assessment if necessary can be extended by the order of privatization authority, but no more than for one month. In case of setting a date of assessment on the last date of January the standardized assessment is carried out in time, not exceeding two months after date of assessment without possibility of prolongation of this term.

Date of assessment is the last date, preceding carrying out the standardized assessment. Date of assessment is established by the order of privatization authority within the planned term of the drawing of shares for sale at auction determined by the plan of share placing of such society which is published not later than date of assessment which is established by it.

2. During the standardized assessment the estimated value of the Block of shares using methodical approaches according to Item 73 of the Technique of assessment of property approved by the resolution of the Cabinet of Ministers of Ukraine of December 10, 2003 No. 1891 (is determined at editions of the resolution of the Cabinet of Ministers of Ukraine of February 20, 2019 No. 224) (further - property assessment Technique), and this Procedure with the subsequent generalization of the received results.

Based on estimated value of the Block of shares the starting price of such Block of shares for the first biddings is established.

3. By results of the standardized assessment of the Block of shares the appraiser who works in staff of privatization authority draws up the Appraisal report of the block of shares which form is given in appendix 1 to this Procedure. The drawn-up Appraisal report of the block of shares is subject to reviewing according to article 13 of the Law of Ukraine "About property assessment, property rights and professional estimative activity in Ukraine". With positive results of reviewing of the Appraisal report of the block of shares about its compliance to regulatory legal acts according to property the Appraisal report of the block of shares affirms the order of privatization authority in time, not exceeding two months of date of assessment. Reviewing is carried out by the appraiser who works in staff of privatization authority and conforms to the requirements established to reviewers by article 13 of the Law of Ukraine "About property assessment, property rights and professional estimative activity in Ukraine" and performs reviewing of the Appraisal report of the block of shares in connection with execution of job responsibilities according to the legislation.

4. The appraisal report of the block of shares is used for establishment of the starting price of the Block of shares for sale at auction.

5. Effective period of the Appraisal report of the block of shares for sale at auction constitutes eighteen months of date of its assessment. On date of the biddings, including carrying out the next biddings, the Appraisal report of the block of shares based on which the starting price of such Block of shares was established shall be valid. In case of the termination of effective period of the Appraisal report of the block of shares such appraisal report is considered invalid.

II. Stages of carrying out the standardized assessment of the block of shares

1. The standardized assessment of the Block of shares is performed in such sequence:

collection and study of basic data and other documents which contain information necessary for carrying out the standardized assessment of the Block of shares;

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