Statement of ABH Holdings S.A. in connection with the information published on the National Police of Ukraine website and containing egregiously false allegations against a minority shareholder of the holding – Mikhail Fridman, accused of organising a criminal tax evasion scheme via Sense Bank.

ABH Holdings S.A. (“ABHH” or “Holding”) denies allegations in connection with the information published on the National Police of Ukraine official website containing egregiously false allegations against the Holding’s minority shareholder Mikhail Fridman, accused of organising a criminal tax evasion scheme via Sense Bank.

Mikhail Fridman has never had any involvement in the governance or management of Sense Bank and has never participated in the structuring and execution of any of the bank’s transactions or operations, including those relating to tax.

The Holding believes that such allegations (also affecting the Holding) are false and have been made with the sole purpose of preventing the Holding from seeking a just and fair resolution of the situation that arose after the illegal expropriation of Sense Bank.

In June of this year, the Holding notified the Ukrainian government of its intention to initiate proceedings on an international level and offered negotiations with a view to settling the dispute amicably. 

The Ukrainian authorities’ reaction to that notification was the imposition of sanctions on the Holding.

In July of this year, the Holding made another attempt to approach the Ukrainian government, again asking for negotiations.

The Ukrainian authorities’ response was the nationalisation of Sense Bank, as well as imposition of certain illegal measures against the Holding’s minority shareholders, that have now been supplemented with the information on the potential criminal proceedings against Mikhail Fridman.

The Holding confirms its intention to continue with the efforts to seek protection of its rights, and considers the current actions of Ukrainian authorities an attempt to hinder the international justice process.