Additional issue of AtaHolding can be considered valid

The existing shareholders of AtaHolding used the right of priority for the acquisition of additional shares by 50%. To acquire the remaining shares in excess of 9.7 million there are a few days left.

According to BSE, within 11 months the existing shareholders acquired shares totaling 19,422,500 manats. However, they paid 12.7 million manat in the last days of the grace period - May 6-7.

Under the Civil Code, the additional offering of securities shall be considered valid if at least 50% of the securities are sold.

To date, the paid-up share capital of AtaHolding is more than 103 million manats.

The holding, whose shareholders will gather at the next meeting in June this year, has not disclosed the financial statements for 2013 yet. And according to the balance sheet for 2012, the unpaid losses of the holding exceeded 35 million manat. In 2012, the assets of the holding company, which includes 13 affiliated companies, including a bank, an insurance company and a leasing company, rose by 21.3 % to 315.5 million manat.

The holding was formed in 2003. Its shareholders are three offshore companies (Hughson Management Inc. - 51 %, Asbet - 25% and Clonmel International Inc. - 24%). Local and foreign press writes on the basis of the registry database that both the daughters of President Ilham Aliyev control these companies. -08B-