With independent auditor’s report

6. 
Discontinued operation and assets classified as held for distribution to the shareholder
Disposal of “Fergana Refinery Plant” LLC (2020 – 2019)
In accordance with the Decree of President of Republic of Uzbekistan No. 4275 dated 10 April 2019, it was
decided to transfer 100% of share interest of “Fergana Refinery Plant” LLC to State Asset Management
Agency. Assets and liabilities of “Fergana Refinery Plant” LLC were classified in the consolidated financial
statement of the Group as of 31 December 2019 as disposal group.
Transfer of 100% of shares of “Fergana Refinery Plant” LLC took place in March 2020.
The main categories of assets and liabilities of “Fergana Refinery Plant” LLC as of the date of disposal are
presented below:
In billions of Uzbek soums
31 December
2019
Assets and
liabilities as of
the date of
disposal
Assets
Property, plant and equipment
407
402
Trade and loans receivable
236
549
Inventory
561
193
Other assets
50
314
Total assets
1,254
1,458
Liabilities
Borrowings
229
329
Trade payables
415
396
Other liabilities
357
441
Total liabilities
1,001
1,166
Net assets
253
292

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JSC “Uzbekneftegaz”
Consolidated financial statements
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)
28
6. 
Discontinued operation and assets classified as held for distribution to the shareholder
(continued)
Disposal of “Fergana Refinery Plant” LLC (2020 – 2019) (continued)
The difference in the amount of UZS 208 billion, between book value of the net assets of “Fergana Refinery
Plant” LLC as of the disposal date (UZS 292 billion) and nominal amount of shares by which share capital was
decreased (UZS 84 billion,
Note 21 
−
 “Reduction of share capital”
) was recognized in retained earnings.