ON THE ACQUISITION OF SHARES
At the moment, the Company does not acquire shares.
According to Article 41 of the Law of the Republic of Uzbekistan "On Joint-Stock Companies and Protection of Shareholders' Rights" it is established that the Company has the right to acquire the shares placed by it by the decision of the general meeting of shareholders to reduce the authorized capital of the company by acquiring a part of the placed shares in order to reduce their total number, if this is provided for in the charter, as well as for the purpose of their subsequent resale.
The Company does not have the right to make a decision to reduce the authorized capital by purchasing part of the placed shares in order to reduce their total number if the par value of the shares remaining in circulation falls below the minimum size of the authorized capital provided for by this Law.
Shares acquired by the company on the basis of a decision made by the general meeting of shareholders to reduce the authorized capital of the company by purchasing shares in order to reduce their total number are paid off upon their acquisition.
The decision to acquire shares must determine the types of shares to be acquired, the number of shares of each type to be acquired by the company, the purchase price, the form and term of payment, as well as the period during which the shares are acquired.
Unless otherwise provided for by the charter of the company, payment for shares upon their acquisition is made in cash. The period during which the acquisition of shares is carried out may not be less than 30 days. The price of purchasing ordinary shares by the company is determined in accordance with the market value.
Each shareholder who owns shares of certain types, the acquisition of which has been decided, has the right to sell these shares, and the company is obliged to purchase them. In the event that the total number of shares in respect of which applications for their acquisition have been received by the company exceeds the number of shares that may be acquired by the company subject to the restrictions established by this Article, the shares shall be acquired from shareholders in proportion to the stated claims.
Not later than 30 days before the beginning of the period during which the shares are acquired, the company is obliged to notify shareholders who own shares of certain types. The notification shall contain the information specified in Part Four of this Article.
The acquisition of preferred shares is carried out at the price provided for by the company's charter.
Shares placed at the disposal of the company do not provide voting rights, are not taken into account when counting votes, and dividends are not accrued on them. Such shares must be sold no later than one year from the date of their receipt by the company, otherwise the general meeting of shareholders must decide to reduce the authorized capital of the company.
Shares not sold within the terms provided for by Part 9 of this Article shall be subject to cancellation in the manner established by the legislation.
The company acquires its own shares independently or through professional participants of the securities market in the manner prescribed by law.
The company is not entitled to make transactions with the shares issued by it with the condition of their repurchase, as well as to transfer the shares issued by it to trust management.
The Company does not have the right to make a decision to reduce the authorized capital by purchasing part of the placed shares in order to reduce their total number if the par value of the shares remaining in circulation falls below the minimum size of the authorized capital provided for by this Law.
Shares acquired by the company on the basis of a decision made by the general meeting of shareholders to reduce the authorized capital of the company by purchasing shares in order to reduce their total number are paid off upon their acquisition.
The decision to acquire shares must determine the types of shares to be acquired, the number of shares of each type to be acquired by the company, the purchase price, the form and term of payment, as well as the period during which the shares are acquired.
Unless otherwise provided for by the charter of the company, payment for shares upon their acquisition is made in cash. The period during which the acquisition of shares is carried out may not be less than 30 days. The price of purchasing ordinary shares by the company is determined in accordance with the market value.
Each shareholder who owns shares of certain types, the acquisition of which has been decided, has the right to sell these shares, and the company is obliged to purchase them. In the event that the total number of shares in respect of which applications for their acquisition have been received by the company exceeds the number of shares that may be acquired by the company subject to the restrictions established by this Article, the shares shall be acquired from shareholders in proportion to the stated claims.
Not later than 30 days before the beginning of the period during which the shares are acquired, the company is obliged to notify shareholders who own shares of certain types. The notification shall contain the information specified in Part Four of this Article.
The acquisition of preferred shares is carried out at the price provided for by the company's charter.
Shares placed at the disposal of the company do not provide voting rights, are not taken into account when counting votes, and dividends are not accrued on them. Such shares must be sold no later than one year from the date of their receipt by the company, otherwise the general meeting of shareholders must decide to reduce the authorized capital of the company.
Shares not sold within the terms provided for by Part 9 of this Article shall be subject to cancellation in the manner established by the legislation.
The company acquires its own shares independently or through professional participants of the securities market in the manner prescribed by law.
The company is not entitled to make transactions with the shares issued by it with the condition of their repurchase, as well as to transfer the shares issued by it to trust management.