Digital Trust Foundation receives functions of shareholder in authorized capital of Uzbekgidroenergo

Tashkent, Uzbekistan (UzDaily.com) -- The Government of Uzbekistan has decided to transfer the functions of a shareholder on behalf of the state in the authorized capital of Uzbekhydroenergo to the Digital Trust Foundation.

This decision was made in accordance with the resolution of the Cabinet of Ministers “On measures to improve the management efficiency of the joint-stock company Uzbekgidroenergo”.

This decision is aimed at introducing modern corporate governance methods into the management system of Uzbekgidroenergo, meeting the needs of enterprises and the public for electricity by attracting foreign investment in hydropower development.

The Digital Trust Foundation will have to coordinate voting with the State Assets Management Agency on issues such as distribution of net profit, reorganization and liquidation of a company, formation of an executive body and early termination of its powers, etc.