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The
Company’s objective is to achieve superior capital gains for its investors
by investing in Ukrainian companies and entities equity, equity related and
debt securities initially and to subsequently expand to other key capital
markets in the area such as Russia and Turkey.
Such
objective is based on a number of key fundamentals practices, which are as
follows:
1.
Sector-driven approach to investment opportunities:
Such
approach usually avoids the cyclical commodity industries while
concentrating on constantly changing mix of undervalued, high growth
industries with “hidden value” overlooked by the market and uncovered by our
own research.
For
example, in today’s Ukrainian environment, such industries would include:
■
Energy
■
Banking
■
Consumer Goods
■
Retail
■
Agro
Industrial
■
Pulp
and Paper Industry
2.
Exhaustive, realistic and proprietary Company specific research:
In an
environment where transparency is still in its infancy, realistic and
reliable information is not readily available to the public. The Firm uses
its extensive network of industry executives, company managers, and
officials to accurately determine the state of a company. This exhaustive
and in depth on the ground approach allow us to identify undervalued
companies by analyzing factors that lead to a fundamental reassessment of
the share values as well as to stay away from companies whose value is
overpriced.
Our
proprietary research allows our Firm to evaluate in a unique fashion the
following information:
■
Actual ownership of the
company versus registered ownership.
■
 Alliances and undisclosed relationship with power groups.
■
Actual status of the company financial situation as opposed
to published financials.
■
Who
are the key decision makers at the management level and
what is management truly intending to
do with the
company besides the
broadcasted niceties.
■
Actual versus optical power and independence of the board of Directors and
its attitude towards minority
shareholders
and best practice corporate
governance.
■
Political as well as social economic factors affecting the company’s
activities.
é
3.
Additional Value Creation through pro-active ownership:
The
Firm objective to obtain superior capital gains for its clients is also
based on taking significant positions in company so as to be able to have a
meaningful influence on the Board of directors, at the management level and
if necessary at the operational and financial level.
The
Firm’s principal experience in adding value to Central and Eastern European
companies centers on:
■
Directing and managing the
company for all shareholders vs a selected power group.
■
Management selection and appointment based on demonstrated expertise versus
nepotism, legacy or membership.
 ■
Refining and rationalization of corporate strategy and assets.
■
Bringing best practices to financial control and monitoring of operations.
■ Realistic
and constant valuation of the investee companies.
■ Dynamic
approach to Mergers, Acquisitions and Divestiture within and outside the
companies main market
of operations.
■
Approach and access to the domestic and international capital markets.
é
4.
Flawless Execution:
Investing
in Central and Eastern European countries and more specifically in the
Ukraine initially requires
an in depth knowledge of the local securities industries, its participants
and intricacies to obtain the most cost effective and error free and
transparent execution.
The
Firm partners have been involved and participated in all the execution
aspects of securities trade in the countries of focus.
They
have in depth knowledge and key relationship with:
■
Local securities and
exchange commission.
■
Local
stock markets officials and participants.
■
Local
brokerage communities.
■ Local
leading registrars.
■
Local
administration and settlement
organizations.
■
Others domestic and international investors.
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Yalta Capital
Management Ltd.
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234 Riverside Avenue, Riverside, CT, 06878, USA
Tel
203
637 1083
Fax
203
698 1097 |
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Kostelnaya Street 11/18,
01001 Kyiv,
UKRAINE
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Kalanchevskaya Ulitsa, 2
Moscow
101174,
RUSSIA |
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