Azerbaijan, Baku, Feb.11. / Trend N. Ismayilova /
The Baku Stock Exchange (BSE) shareholders held a general meeting and adopted strategic plan for 2010-2012 Feb.5, the BSE reported
The BSEX plans to improve trade mechanism of securities and clearing systems, to complete the automation and modification and standardization of risk management and to develop internal capacity
One of the main strategic objectives of the BSEX is to develop new exchange tools
The BSEX also adopted its 2010 budget. According to the projected budget, the BSEX revenues hit 1.313 million manat, costs 1.111 million, and benefit 201,310 manat.
The BSEX also considered organizational issues and adopted supervisory personnel for the next two years in the composition of Chairman of Supervisory Board Jahangir Hajiyev, members of Supervisory Board Araz Aliyev, Samir Balayev, Mansur Memmedov, Metanet Iskenderova, Jafar Ibragimov, Hasan Badalov
The shareholders elected Chairman of Board Khayal Abdinov for the next three years. The BSEX approved a new staff of the financial-audit committee in the composition of Chairman Vagif Efendiyev, members Faiq Baxshiyev and Metin Amiraslanov
The BSEX shareholders also considered Xalq Kapital's appeal on membership.
The BSEX decided to realize additional issue taking into account net assets worth 300 shares at price twice higher than their nominal value, which will be proposed to the new shareholder.
Presently the BSEX has 18 shareholders.
The BSEX authorized capital is 1.14 million manat
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