In order to increase the efficiency of managing federally owned shares of United Shipbuilding Corporation JSC and the further development of the shipbuilding industry, the President issued an executive order to accept the Russian Government’s proposal to transfer 10 percent of federally owned shares of United Shipbuilding Corporation JSC (St Petersburg) into trust management of PJSC VTB Bank (St Petersburg) for five years without holding a competition for the right to enter into a share trust deed, without remuneration.
Under this Executive Order, the Russian Government was instructed to ensure the conclusion of the trust deed for shares of United Shipbuilding Corporation JSC, within a 6-month period, which defines the key performance indicators of trust management of these shares, obligations for implementation, and conditions for early termination of trust management.