JKX struggles bode ill for Ukraine gas sector

UK-listed JKX faces its second shareholder dispute in 18 months and is struggling to fend off the advances of Russian/Ukrainian investors UK-listed JKX faces its second shareholder dispute in 18 months and is struggling to fend off the advances of Russian/Ukrainian investors.
By Silvia Favasuli 19 June 2017 0 26420
A JKX gas facility in Ukraine. The company is dealing with another shareholder dispute. (JKX)

The plight of Ukraine-focused explorer JKX shows Kiev still has plenty of work to do if it wants to persuade western oil and gas companies to help develop the country’s abundant shale reserves.

The board of the struggling UK-listed company is bracing itself for its second shareholder revolt in 18 months at the company’s AGM on 30 June.

JKX’s main shareholder – Ukrainian investment fund Eclairs, which holds a 27.47% stake – is proposing to get rid of the current management team and elect its own representative,...

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