At a session held on June 1, 2005, the Financial Supervision Commission (FSC) adopted the following Resolutions:
1. The Financial Supervision Commission approved a prospectus for initial public offering of 710,000 pieces of ordinary, registered shares, having nominal value of BGN 1 each, issued by Web Media Group AD as a result of increase in the company’s capital from BGN 710,000 to BGN 1,420,000 in compliance with a resolution of the company’s General meeting of shareholders. The Commission entered Web Media Group AD in the Public Register as an issuer.
2. The Financial Supervision Commission approved a prospectus for initial public offering of dematerialized, privileged voting shares, entitling their owners to a dividend, right to liquidation proceeds and buy-back right, issued by Elana High Yield Fund AD Open-End Investment Company. The Commission entered the issue and the company in the Public Register.
Elana High Yield Fund AD Investment Company is managed by Elana Fund Management AD Management Company. It is envisaged that the new company shall mainly invest in shares of Bulgarian companies traded on the stock exchange.
3. The Financial Supervision Commission issued a licence to Elana Farm Land Fund SPV to perform activities as a special purpose vehicle for real estate securitization. The Financial Supervision Commission approved a prospectus for public offering of 2,000,000 pieces of ordinary shares, having a nominal value of BGN 1 each, issued by the company as a result of initial increase in capital.
Company’s founders are Elana Holding with 70% of the company’s capital, Dobrudja – М- Life Mutual-Insurance Co-operative Association with 20 %, and Planeta AD Health Insurance Company with 10 %.