Revealed Real Owners of Metallic Mining Companies in Armenia – Part 8: Tatstone LLC

Revealed Real Owners of Metallic Mining Companies in Armenia – Part 8: Tatstone LLC

EcoLur

EcoLur continues to present declarations on the real owners of the companies operating the metal mines in Armenia, which were published within the framework of EITI on the website of State Register Agency of Legal Entities of RA Justice Ministry.

In this publication, we will cover the declaration submitted by Tatstone LLC operating Litchq copper mine in Syunik Region. 

New owners who appeared after mining was stopped

Tatstone LLC was registered on July 1, 2003. In its declaration, the company identified three real owners, two of whom together own 98% of the company's shares.

The first real owner is Aram Safaryan, a citizen of the Republic of Armenia, with 50% shares, which he acquired on July 26, 2018. He is directly involved in the company and is a member of the General Meeting of Shareholders.

The second real owner is Mikhail Mogilevsky, an Austrian citizen with 48% shares, which he also acquired in 2018, five months after Safaryan, on December 28.

The third real owner is Levon Poghosyan, a citizen of Armenia, the head of the company's executive body. There is no information about Poghosyan's share in the declaration.

It is unknown at this time who owns 2% shares in the company.

It should be noted that within the framework of the EITI, the company has no obligation to identify the owner with less than 10% shares.

It should also be highlighted that the real owners of the shares appeared in the company after the cessation of mining operations. It was after the Velvet Revolution in Armenia in May 2018.

Chain of Armenian and Cypriot Companies

In the declaration, the chain of intermediary companies revolves only around the second real owner, Mikhail Mogilevsky.
For Mogilevsky, two Armenian and two Cypriot companies are operating as intermediary companies: “Red Metal” CJSC and “Linne Mining” LLC in Armenia, “CII Clay Industries International Limited” LLC and "Avander Holding Limited" LLC. In Cypriot companies, Mogilevsky is the head of the executive body.

12:06 May 26, 2020


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