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MOSCOW () -- The Krasnoyarsk Aluminum Factory, charged with share tampering by a Western investor, said Wednesday it would transfer the register of its shareholders to an "independent" company owned 15 percent by the plant.
Krasnoyarsk Economic Director Mikhail Vasilev told Interfax news agency that the shareholders register would be placed with the KrAZ Brokers finance company.
Western investment bankers say Russia's share registers system is a mess and prone to abuse by hostile factory directors who might erase unwanted outside shareholders from the register.
Russian law obliges all companies with 1,000 shareholders or more to have independent share registers.
Register Transferred
22 December 1994
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