Mongolia Development Resources becomes the first investment holding company listed on the Mongolia Stock Exchange
Mongolia Development Resources (MDR) is pleased to announce that it has become the first investment holding company listed on the Mongolia Stock Exchange (MSE). The company shares resume trading on MSE as of July 15, 2010, following the approval of the new charter and new prospectus by the Financial Regulatory Commission. MDR shares are now traded under new ticker: “MDR” (formerly the ticker was “TSU”)
The company has held its AGM on April 25, 2010 with 97.16% of the shareholders attending and approving all 13 agenda items unanimously, including new company charter and new prospectus.
According to the AGM resolution, shareholders who did not attend the shareholder meeting were entitled to receive a share buyback offer from the company. The share buyback was offered at MNT 1000 per share in accordance with the board resolution and expired on July 9, 2010. Total of 18 shareholders with ownership of 6.682 shares, representing 0.05% of total MDR shares outstanding, have filed their applications to redeem their shares.
According to the new Charter the company is renamed to Mongolia Development Resources and its new activity is to operate as a listed investment holding company. MDR pursues attractive investment opportunities across various sectors in Mongolia and provides diversified exposure to the Mongolian economy for local and international investors. Prior to its AGM, MDR was known as “Tuul Songino Water Resource”.
MDR is committed to generate attractive returns to its shareholders while implementing international corporate governance standards. Three independent directors have been elected to the new Board at the company AGM: Mr. Unenbat J., CEO of Mongolia Corporate Governance Development Center and the former governor of the Bank of Mongolia; Mr. Ganhuyag R., CEO of Ikh Uilsiin Ereld LLC, one of the largest construction companies in Mongolia, and Mr. Enkhbaatar O., Vice President of Prophecy Resource Corp.
About MDR:
Mongolia Development Resources is the first investment holding company listed on the Mongolia Stock Exchange. The main activity of MDR is to build and provide diversified exposure to the Mongolian economy for local and international investors. The main areas of investments are property, mining, oil & gas, infrastructure and financial services.
MDR was established in 2006 as a developer of a greenfield water treatment facility and power station in Mongolia. The company launched its IPO on the Mongolia Stock Exchange in December 2007, raising MNT 13.7 bln in one of the largest IPOs in the history of MSE to date, with 90% of shareholders being international investors.
Mongolia Development Resources
Phone/fax: +976 7012 9949
Email: info@mdr.mn
The company has held its AGM on April 25, 2010 with 97.16% of the shareholders attending and approving all 13 agenda items unanimously, including new company charter and new prospectus.
According to the AGM resolution, shareholders who did not attend the shareholder meeting were entitled to receive a share buyback offer from the company. The share buyback was offered at MNT 1000 per share in accordance with the board resolution and expired on July 9, 2010. Total of 18 shareholders with ownership of 6.682 shares, representing 0.05% of total MDR shares outstanding, have filed their applications to redeem their shares.
According to the new Charter the company is renamed to Mongolia Development Resources and its new activity is to operate as a listed investment holding company. MDR pursues attractive investment opportunities across various sectors in Mongolia and provides diversified exposure to the Mongolian economy for local and international investors. Prior to its AGM, MDR was known as “Tuul Songino Water Resource”.
MDR is committed to generate attractive returns to its shareholders while implementing international corporate governance standards. Three independent directors have been elected to the new Board at the company AGM: Mr. Unenbat J., CEO of Mongolia Corporate Governance Development Center and the former governor of the Bank of Mongolia; Mr. Ganhuyag R., CEO of Ikh Uilsiin Ereld LLC, one of the largest construction companies in Mongolia, and Mr. Enkhbaatar O., Vice President of Prophecy Resource Corp.
About MDR:
Mongolia Development Resources is the first investment holding company listed on the Mongolia Stock Exchange. The main activity of MDR is to build and provide diversified exposure to the Mongolian economy for local and international investors. The main areas of investments are property, mining, oil & gas, infrastructure and financial services.
MDR was established in 2006 as a developer of a greenfield water treatment facility and power station in Mongolia. The company launched its IPO on the Mongolia Stock Exchange in December 2007, raising MNT 13.7 bln in one of the largest IPOs in the history of MSE to date, with 90% of shareholders being international investors.
Mongolia Development Resources
Phone/fax: +976 7012 9949
Email: info@mdr.mn
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