FSC does not confirm the prospectus prohibit trade

At its meeting on September 14, 2009 the Financial Supervisory Commission refused to confirm the prospectus for public offering of shares from a capital increase of Arco Towers REIT.

The proposed increase in the amount of BGN 32 500, divided into 32 500 ordinary, non-cash, personal, svobodnoprehvarlyaemi shares with a nominal value of BGN 1 each and issue price 108.15 EUR
Reasons for refusal were that the prospectus does not meet the regulatory requirements concerning its content because the applicant has not submitted the required declarations under Art. 81, para. 5 in conjunction with para. 3 of POSA, as well as other information should be presented in a prospectus pursuant to Regulation (EC) № 809/2004 and Decree № 2.
By the FSC also imposed a temporary ban on tender offer by Radio Ltd, Targovishte, to purchase through an investment firm FC Ever „AD, Sofia, of shares of Polianitsa AD, Targovishte, the remaining shareholders of company.

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Finance