Dears Sir/Madam,

We would like to inform you that May 25, 2015 is the deadline for submission to the Unified State Register of Legal Entities and Individual Entrepreneurs (the "USR") of the information on the "ultimate beneficiaries" of, and holders of "substantial interest" in, companies.

Within the meaning of the law, the "ultimate beneficiary" is an individual who, either independently or jointly with affiliated persons, holds 25 or more percent of the authorized capital of or voting rights in companies.  The holders of "substantial interest" are understood to be individuals - participants of legal entities who control companies by directly or indirectly holding 10 or more percent of the authorized capital of or voting rights in such companies.  The disclosure requires the submission of the completed and signed standard registration form. The information to be disclosed must include the following data on the "ultimate beneficiaries" and "substantial interest" holders: (1) full name, (2) citizenship, (3) passport series and number, (4) place of residence, and (5) registration number of the taxpayer's record card or any similar document (if available). If it is not possible to establish the "ultimate beneficiary" and/or the "substantial interest" holder, the registrar must be informed about the absence of the same. In any case, in order to avoid a statutory penalty of UAH 8,500.00, information on the ultimate beneficiaries or on the absence of the same must be submitted to the USR by May 25, 2015.