In 2012, the State Committee for Securities (SCS) received from shareholders 267 plaintive statements. Complaints to the SSC decreased by about 7%. However, this is not a sign of improvement in the observance of the rights of the holders of minority interests.
Shareholders complained about violations of their rights in 394 JSC (in 2011 - 454 JSC). SCS revealed serious violations of the rights of shareholders in 146 JSC (in 2011 - 184 JSC), in relation to which it was applied administrative sanctions in the amount of AZN 200 each.
The analysis shows that, in many cases, the management of joint stock companies simply ignores letters from SCS to investigate complaints of shareholders. SCS never used for the last 10 years the right to examine the rights of shareholders in the field. Therefore, shareholders are less resort to the SSC, and prefer to go to court to recover their rights.
Note that in 2012, there was a trend of rejection of forms of shareholder management and liquidation of JSC. There were eliminated about 20 JSC, and many of these cases were accompanied by violations of the rights of shareholders. - 08D-
Economics
-
Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
-
Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
-
Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
-
Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
Leave a review