Начало / News / At a session held on March 23, 2005, the Financial Supervision Commission adopted...

At a session held on March 23, 2005, the Financial Supervision Commission adopted the following Resolutions:


1. The Commission approved a tender offer submitted by Zavod za Metalorezheshti Mashini – Bulgaria Holding AD, Sofia City, for the purchase of shares of Mashstroy AD, Troyan, from the company’s other shareholders through the Investment Intermediary Aval In AD, Sofia. The price offered per share is BGN 4.

2. The Commission approved a tender offer submitted by Chimimport AD, Sofia City, for the purchase of shares of Prospecting and Extraction of Crude Oil and Gas
AD, Sofia, from the company’s other shareholders through the Investment Intermediary Real Finance AD, Varna. The price offered per share is BGN 26.50.

3. The Financial Supervision Commission issued a licence to Bulgaria Real Estates Fund SPV to perform activities as a special purpose vehicle, and namely: investment of pecuniary means raised through issuance of securities in real estates (securitization of real estates).
The Commission approved a prospectus for public offering of 150,000 ordinary voting shares, having a nominal value of BGN 1 each, issued by Bulgaria Real Estates Fund SPV as a result of initial increase of company’s registered capital.

4. The Financial Supervision Commission approved prospectuses for the public offering of share units of two mutual funds: Capital Invest Master Fond I traditionell and Capital Invest Master Fond II dynamisch. The funds’ managing company is Capital Invest, a subsidiary of Bank Austria Creditanstalt Gruppe GmbH. The prospectuses of both funds contain additional information intended for the Bulgarian investors, which reflects the specificity of share units offering in Bulgaria. The funds’ principal prospectuses have also been approved by the Austrian Financial Market Authority.
Investment intermediary in the sale (issue) and the funds’ units repurchase is to be HVB Bank Biochim AD.

5. The Commission passed an Amendment Ordinance to ORDINANCE No. 12 of December 10, 2003 on the terms of and the procedure for determing the minimum rate of return resulting from the management of supplementary mandatory pension fund assets, on covering the differnce up to the minimum rate of return, as well as on the establishment and utilization of the reserves for guaranteeing the minimum rate of return. The Ordinance’s promulgation in the State Gazette is forthcoming.

6. The Commission adopted Practice on the Implementation of Art. 180а of the Social Insurance Code. The Practice is to be published on the Commission’s website, Documents Section.