Baku Stock exchange shareholders meeting held

Business Materials 10 April 2006 17:30 (UTC +04:00)

The stock exchange activity, development routes and budget in the current year have been adopted at the meeting of the Baku stock exchange shareholders meeting. The total turnover of the stock exchange has reached 521 573 479 AZM last year. Its revenue reached 331 103, 8 AZM and increased the forecasts in 44 776 AZM, with 188 266, 09 AZM of expenditures, in 31 418, 5 less than forecasted. The balance revenue has reached 142 837,

68 AZM and pure- 53 665, 9 AZM. Shareholders have decided to allocate the revenue to covering the previous years expenditures.

According to the adopted in 2006 budget the stock exchange revenues are expected to reach 476.200 AZM and its expenditures- 292 233.08 AZM

Besides, the composition of the financial- revision commission has been decided. It will include representatives from ADB Broker, Bank of Baku and Capital Management. The commission will be headed by ADB Broker representative, Vagif Efendiyev.