Начало / News / At a session held on May 31, 2006, the Financial Supervision Commission (FSC) adopted...

At a session held on May 31, 2006, the Financial Supervision Commission (FSC) adopted the following resolutions:

1. The Commission confirmed a prospectus for secondary public offering of corporate bonds issued by United Milk Company AD, town of Plovdiv. The issue, having ISIN code: BG2100004063, amounts to EUR 5,000,000, distributed in 5,000 pieces of ordinary, naked, interest-bearing debentures having a nominal value of EUR 1,000 each, and a fixed interest rate to the amount of 8% on annual basis, having interest payments at every six-month period where the time period of the debenture loan is 5 years as of February 03, 2006, the maturity being February 03, 2011. The Commission entered the issue and the issuer into the FSC’s Public Register.
The issue is being issued with a buy-back option on the part of the issuer. The issuer has and shall retain the right to buy-back the whole issue of bonds two years after the issue date.
United Milk Holdings Limited, a subsidiary of the Black Sea Fund managed by Global Finance, and International Real Estate Investors Holding S.A., a subsidiary of Doverie Capital AD are major shareholders in United Milk Company AD.

2. The Commission confirmed a prospectus for secondary public offering of corporate bonds issued by Agrileasing EAD, Sofia City. The issue, having ISIN code: BG2100006068, amounts to EUR 2,000,000, distributed in 2,000 pieces of ordinary, secured, interest-bearing debentures having a nominal value of EUR 1,000 each, having a floating interest percentage rate amounting to a three-month Euribor + 4.15 % on annual basis, where the principal is to be paid in 16 equal three-month repayment installments to the amount of EUR 125,000, due along with coupon payments, a period of the debenture loan of 48 months as of February 07, 2006, the maturity being as of February 07, 2010. The Commission entered the issue and the issuer into the FSC’s Public Register.
The main sphere of activity of Agrileasing EAD is extending a financial lease mainly to farmers. Sole owner of Agrileasing EAD’s capital is Varex Ltd., Sofia City.

3. The Commission confirmed a prospectus for secondary public offering of corporate bonds issued by Transleasing EAD, Sofia City. The issue, having ISIN code: BG2100005060, amounts to EUR 2,000,000, distributed in 2,000 pieces of ordinary, secured, interest-bearing debentures having a nominal value of EUR 1,000 each, having a floating coupon amount to a three-month Euribor + 4.15 % on annual basis, where the interest payments are made every three-months, the period of the debenture loan is 48 months as of February 07, 2006, and the maturity being as of February 07, 2010. The Commission entered the issue and the issuer into the FSC’s Public Register.
The main sphere of activity of Transleasing EAD is extending a financial lease of machinery and equipment for the agricultural sector, as well as of new and used automobiles. Sole owner of Transleasing EAD’s capital is Varex Ltd., Sofia City.

4. The Commission confirmed a prospectus for secondary public offering of corporate bonds issued by Zarneni Hrani Bulgaria EAD, Sofia City. The issue, having ISIN code: BG2100035059, amounts to EUR 7,000,000, distributed in 7,000 pieces of ordinary, naked, interest-bearing debentures having a nominal value of EUR 1,000 each, having a floating coupon amount to a six-month Euribor + an extra of six points, a period of the debenture loan of six years as of November 11, 2005, a maturity – as of November 11, 2011. The Commission entered the issue and the issuer into the FSC’s Public Register.
The company’s main activity is related to the purchase, sale, storage and processing of grain crops. Sole owner of Zarneni Hrani Bulgaria EAD’s capital is Notap Company Limited, Cyprus. Zarneni Hrani Bulgaria EAD is part of the economic group formed with its subsidiary Port of Balchik AD.

5. The Commission entered into the public register an issue of shares issued by Transcard AD as a result of increase in the company’s capital from BGN 5,000,000 to BGN 7,000,002. The issue is to the amount of 2,000,002 pieces of ordinary shares having a nominal value of BGN 1 each.

6. The Commission denied issuing a licence to Eurofond Realties REIT to perform activities as a special purpose vehicle. The lack of institutional investor and the bad financial standing of the company – co-founder are among the main motives for the denial.

7. The Commission issued a licence to perform activity as a management company to Titan Asset Management JSCo. Within a 14-days’ period as of receipt of the notification, Titan Asset Management JSCo is to certify that the requisite capital of BGN 250,000 has been fully paid-in.
Vickvision EOOD is the founder of Titan Asset Management JSCo, holding 100 % of its capital.

8. The Commission adopted a Practice on application of Art. 123c, para. 1, item 9 of the Social Insurance Code.
Pursuant to the Practice adopted, it is allowed that transactions in shares and/or units issued by collective investment schemes which are not performed on a regulated market to be carried out directly by the pension insurance companies through sale or repurchase of securities by the management company.
The aforesaid Practice has been published on our website under Documents Section, Instructions and Requirements.