Courts and disputes

Prosperity Capital Management, which controls about 20% of Petropavlovsk, has asked the British Mergers and Acquisitions Board to investigate the actions of Everest Alliance Ltd, UGK and some other shareholders of the company for possible violation of the takeover code. Prosperity believes that they are acting in an organized manner to gain control over the board of directors and management of Petropavlovsk, in which they jointly own more than 30% of the shares.