National Bank of Moldova blocks groups of stockholders of commercial bank
15:48 | 22.01.2016 Category: Economic
Chisinau, 22 January /MOLDPRES/ - The Executive Committee of the National Bank of Moldova (BNM) has blocked a group of stockholders of the commercial bank Moldova-Agroindbank, who acted concertedly and purchased a substantial share of the bank's share capital of 3.53 per cent, without a previous written permission of the National Bank.
A BNM press release says that the stocks of the companies Money@Box Ltd, Nestol Limited, Business Worldwide Alliance Financial Services Ltd and Advanced Asset Protection LTD have been blocked.
The Central Bank came up with more specifications, after the media had written that the biggest bank of Moldova had four new stockholders.
The four stockholders "were informed about the incidence of the provisions of the article 15, paragraph 2, of the law on financial institutions on the de jure suspension of the right to vote exercise, right to call and hold the general assembly of stockholders, right to introduce issues on the agenda, right to put forward candidates for the members of the bank's council, executive body and auditors' commission of the bank and the right to receive dividends," the BNM says.
The National Bank demanded that the aforementioned stockholders, in a three-month period starting from 23 December 2015, may sell the stocks bought without a beforehand permission of BNM.
In April 2015, a string of transactions with Moldova-Agroindbank stocks were carried out, including with the bank's treasury stock. As a result of these transactions, the following nonresident legal entities became bank's stockholders: Business Worldwide Alliance Financial Services Ltd (with a 0.98 per cent share of the bank's share capital), Money@Box Ltd (0.95 per cent), Nestol Limited (0.98 per cent and Advanced Asset Protection LTD (0.61 per cent).
Under the law on financial institutions, the acquisition of the participation shares under 1 per cent of the bank's share capital does not require a beforehand permission by the National Bank. The aforementioned stockholders, which acted concertedly, did not demand, and therefore, did not receive beforehand permission of the National Bank for the purchasing of these individual shares.
(Reporter V. Bercu, editor L. Alcaza)
