EVERY CITIZEN TO OWN PREFERENCE STOCK OF ERDENES MGL COMPANY
Ulaanbaatar, Mongolia /MONTSAME/ At a regular meeting, the cabinet made decision on granting to every citizen a preference stock of the Erdenes MGL Company. Before this decision, the cabinet has decided to hand 1,072 units stocks of the Erdenes Tavantolgoi LLC to citizens.
The Erdenes MGL Company possesses two associated companies--the Erdenes TT and the Oyutolgoi that own three special licenses of the strategically-important "Shivee-Ovoo" brown coal deposit. In accordance with the above decision, citizens are enabled to have dividends from the strategic mineral deposits.
Owner of the preference stock of the Erdenes MGL has a special right to have the dividend prior to the government and the shareholders. "This is an expression of the cabinet to realize its policy of equally distribute benefits of the natural resources to every person," the Prime Minister S.Batbold stressed.
The Erdenes MGL Company owns 100 thousand units of common stock and 3 million units of preference stock. Thus, it is possible to distribute the stock to every person who is listed in the state registration.
In accordance with the related law, the preference stock owner shall not sell the preference stock or present it to others. It is also illegal for the owner to inherit it to someone or to pawn it for something.
B.Khuder
The Erdenes MGL Company possesses two associated companies--the Erdenes TT and the Oyutolgoi that own three special licenses of the strategically-important "Shivee-Ovoo" brown coal deposit. In accordance with the above decision, citizens are enabled to have dividends from the strategic mineral deposits.
Owner of the preference stock of the Erdenes MGL has a special right to have the dividend prior to the government and the shareholders. "This is an expression of the cabinet to realize its policy of equally distribute benefits of the natural resources to every person," the Prime Minister S.Batbold stressed.
The Erdenes MGL Company owns 100 thousand units of common stock and 3 million units of preference stock. Thus, it is possible to distribute the stock to every person who is listed in the state registration.
In accordance with the related law, the preference stock owner shall not sell the preference stock or present it to others. It is also illegal for the owner to inherit it to someone or to pawn it for something.
B.Khuder
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