Mabofi perplexed by Hungarian Emfesz sale to RosGas, seeks legal remedy

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Thursday, 7, May 2009 04:37:00 PM

Mabofi Holdings Limited has on Thursday claimed it is the “legal owner of 100% of the issued share capital" in Hungarian natural gas trading company Emfesz, which was sold to Switzerland-based RosGas. Mabofi said it would seek legal ways to have its ownership restored.

Cyprus-registered Mabofi is part of Group DF Limited, the holding company of the business assets of Dmitry Firtash.

“Mabofi is the legal owner of 100% of the issued share capital in Emfesz, a major gas distributor in Hungary," Director David Brown said in a statement..

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“Mabofi discovered on the morning of the 6th May 2009, that the shares in Emfesz had been fraudulently transferred to a Swiss company registered in Zug, Switzerland, RosGas A.G. This purported transfer has been registered with the authorities in Hungary. There is no information available as to the beneficial ownership of RosGas, but one of its directors is Mr Tamás Gazda, a Hungarian lawyer, who was employed by Emfesz, under the direct instructions of the Emfesz General Director, István Góczi."

“Neither Mabofi, Group DF or any of the senior management of the group had any knowledge of this transaction, and have given no approval whatsoever. Our understanding is that István Góczi (who is in the process of being removed from the board of directors of Group DF Limited) has carried out this transaction based on a power of attorney given to him in October 2004, primarily giving him the powers to carry out the original acquisition of Emfesz."

“Mabofi is now actively pursuing all of its legal rights in Hungary, Cyprus and Switzerland, and is confident that the ownership of Emfesz will be restored to its rightful owner as soon as possible."

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