Falsification of a decision on reorganization of JSC "AZNAR"

Board of JSC "AZNAR" named after  Teymur Akhmedov published on November 7-8, new  information on the reorganization of the company, which are clearly different from previously published reports on this fact. Small shareholders  argue that the owner of 99.9% of shares, Farhad Akhmedov, a Russian businessman of Azerbaijani origin,  made this falsification because the decision   was not in line with the law.

Shareholder Shahin Alizadeh  told Turan, that he met on the incident with the chairman of the State Committee on Securities and asked him to protect Azerbaijani investors from illegal actions of the Russian billionaire who can not tolerate the presence of small shareholders.

According to Alizadeh,  the general meeting adopted a decision to separate the newly created "AzNarSharab", with a registered capital of 30,000 manat, from  the JSC "AZNAR" . In a new legal entity with 53.7% share again dominated Farhad Akhmedov. According to the decision, he is the  only  shareholder in ZAO "AZNAR" named after  Akhmedov with a registered capital of about 30 million manat. "After the sensational press revelatory articles, and understanding that this decision is contrary to Azerbaijani law, Farhad Akhmedov decided to go another way. This time, it was announced that the JSC "AZNAR" will be transformed into JSC "AzNarSharab".  Will the JSC separate from the same name JSC(?) ".

Shareholders are going to challenge the rigged, in their view, minutes of the general meeting of shareholders of JSC "AZNAR"  named after Teymur Akhmedov. --08B--