Information on the acquisition by the company of its shares
In accordance with Article 40 of the Law of the Republic of Uzbekistan “On joint stock companies and protection of shareholders’ rights” the acquisition of shares is carried out in the following cases.
Shareholders - owners of voting shares are entitled to demand redemption by the company of all or part of the shares owned by them, if they voted against or did not participate in the vote for valid reasons when the General meeting of shareholders decided on:
- reorganization of the company;
- consolidation of placed shares;
- the conclusion of a major transaction related to the acquisition or disposal of property by the company in accordance with parts two and three of article 84 of this Law;
- making amendments and additions to the company's charter or approval of the new edition of the company's charter, restricting their rights.
The list of shareholders entitled to demand redemption by the company of shares owned by them is compiled on the basis of data from the register of shareholders of the company entitled to participate in the General meeting of shareholders, the agenda of which includes issues on which voting in accordance with this Law may give rise to the right to demand redemption of shares.
The company shall repurchase shares at the market value of these shares, determined without taking into account its changes as a result of the company’s actions, which entailed the emergence of the right to demand shares repurchase.
Procedure for the exercise by shareholders of the right to demand redemption by the company of their shares is determined by Article 41 of the Law.
To date, no shares have been acquired by the company.