Ukraine: JKX said it had never been approached by the Russian firm, according to The Moscow Times. Proxima was not immediately available for comment. Shares of JKX fell as much as 34 percent, making them the top percentage loser on the London Stock Exchange. JKX, which makes 85 percent of its revenue from Ukraine, said in January it would suspend its investment in the country due to government-imposed restrictions on selling gas to industrial clients and an increase in gas production tax. JKX, which has a market value of 58.6 million pounds , also operates in Russia, Hungary and Slovakia. The company said on Monday it had commenced arbitration proceedings against Ukraine for the repayment of $180 million related to the production of oil and gas.
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