At the May 18 general meeting of shareholders of OJSC Uni Bank a deal of special significance was approved. It is a term loan agreement with ING Bank N.V. (Netherlands) in the amount of 15 million USD, signed on November 13, 2014. By the decision of the shareholders, permission was given for extension of the agreement until November 15 of this year.
According to Article 99.3 of the Civil Code, deals of special significance (such deals are in excess of 25% of the company's own assets) are subject to approval by the shareholders, as well as published.
This legal provision has been in force since 2004. But the majority of joint-stock companies do not adhere to it.
From this year corporate information subject to disclosure should be posted in the electronic disclosure system (https://disclosure.az/) controlled by the Financial Market Control House. ----08D
Economics
-
Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
-
The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
-
An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
-
On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
Leave a review