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| Information center |
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| I am paying for shares out of the Second Round of Privatization. I have paid for half the debt, but the firm refuses to release a certificate of ownership on the paid shares. Why won't they release the certificate and what should I do? |
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| Answer: |
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In compliance to the Law of Ownership Transformation from the year 1997, by which you have locked-in a contract through the Second Round of Ownership Transformation, every firm that has entered in the second round, is required to control installments according to due dates for installment of the last payment, in other words, six years from the day of the locked- in contract.
In the meantime, there are a many changes on our financial market - trading on the Stock Exchange, changes in law etc. A number of firms have decided to solicit Ministry of Economy and Privatization to control installments while in the second round. The Ministry has helped these firms by writing up a procedure for completing verification, which unfortunately lasts very long.
Only after adequately edited Ministry Decree for completing control, the firm can register paid off shares in the Temporary Register and on behalf of that give a certification of ownership on the shares.
After finished procedures, you can in fully, dispose of your shares; in other words, offer them for sale on the Stock Exchange.
If your firm would like to control the payment of shares in the second round, and has no information capabilities for this, you can definitely refer them to us as experienced partners who have a lot of experience in this field. |
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