At a session held on July 6, 2005, the Financial Supervision Commission (FSC) adopted the following Resolutions:
1. The Commission approved a prospectus related to a secondary public offering of shares issued by Euroterra Bulgaria JSC, Sofia City. The said issue is to the amount of BGN 2 million, allocated in 2 million pieces of ordinary, registered, dematerialized, freely transferable shares, having a nominal value and issue price of BGN 1 each. The Commission entered the aforesaid issue into the Registry for the purpose of trading these on the regulated market, and entered Euroterra Bulgaria JSC as a public company.
2. The Commission approved a prospectus related to a secondary public offering of an asset-backed security, corporate bonds issued by TECHNOLOGICAL CENTRE - INSTITUTE OF MICROELECTRONICS (TC-IME) Single Person Joint-Stock Company, Sofia City. The said issue is to the amount of EUR 12 million, allocated in 12,000 pieces of ordinary, interest-bearing, registered, dematerialized, freely transferable, asset-backed corporate bonds, having a nominal value and issue price of EUR 1,000 each. These have a 36-month maturity, fixed coupon of 8 % on annual basis, and a 3-month period of interest payment and a maturity on April 26, 2008. The Commission entered the aforesaid issue into the Registry and TECHNOLOGICAL CENTRE - INSTITUTE OF MICROELECTRONICS (TC-IME) Single Person Joint-Stock Company as an issuer.
3. The Commission divested the investment intermediary MAKLER – 2002 JSC, Plovdiv, of the right to effect transactions in securities for its own account, to underwrite issues of securities and the right to borrow securities.
4. The Commission issued a supplemental licence to Armeetz JSC Insurance Company, Sofia City, to perform activities in the field of active re-insurance.
5. The Commission adopted Directions for the interpretation and implementation of Ordinance No. 3 on the terms and procedures for switching participation and transferring the amounts accrued in an insured person’s individual account from one supplementary pension fund to another fund of the same type, managed by another pension insurance company. The said Directions shall be published on the website of the Financial Supervision Commission.