At a session held on November 16, 2005, the Financial Supervision Commission (FSC) adopted the following Resolutions:

 1. The Commission issued a licence to Intercapital Property Development SPV, Sofia City, to perform the following activities in its capacity of a special purpose vehicle: investment of monies raised through issuance of securities into real estate /real estate securitization/.
The Commission approved a prospectus for public offering of 750,000 pieces of ordinary, registered, dematerialized, freely-transferable voting shares, having a nominal value of BGN 1 each, issued by Intercapital Property Development SPV as a result of the company’s initial capital raise.
The Commission entered the abovementioned issue of shares /undergoing an issuance process/ into the Public Companies’ Registry.

 2. The Commission approved amendments to the Articles of Association of Park SPV, adopted by a resolution of the company’s general meeting of shareholders held on October 18, 2005.

3. The Commission adopted amendments to the Financial Supervision Commission’s Instructions with Regard to Submission of the Necessary Documentation on Issuance of Approvals, Permits, Confirmations and Periodic Disclosure of Information.

The Data on the Insurance Market for the Third Quarter of Year 2005 Have Been Summarised

The reports for the third quarter of year 2005 submitted by the insurance companies have been summarised by the Insurance Supervision Division at the Financial Supervision Commission. The premium income on general insurance amounted to BGN 647,940 thousand, which is a growth of 32.91 % in comparison to the third quarter of year 2004, and the indemnities paid amounted to BGN 224,183 thousand.
In the sphere of life insurance, the premium income was BGN 93,425 thousand – a growth of 51.44 % in comparison to the same period of the last year, and amounts and indemnities were paid amounting to BGN 24,740 thousand.
The Insurance Market’s statistics for the third quarter of year 2005  has been published on the FSC’s website –, Statistics Section.

At a session held on November 2, 2005, the Financial Supervision Commission (FSC) adopted the following Resolutions:

  1. The Commission approved a tender offer submitted by Energoremont Holding JSC, Sofia City, for the purchase of shares of Energoremont Russe AD, Russe, from the company’s other shareholders through First Financial Brokerage House Ltd. Investment Intermediary. The price offered per one share is BGN 15.68.

 2. The Commission approved a request submitted by Dealing Financial Company AD, under which request the Investment Intermediary surrenders the right to undertake transactions in securities for its own account and underwriting of issues.