UniCredit Bank d.d.
Summary:
The parliament of Federation of Bosnia and Herzegovina has adopted a new Law on Banks. Securities Commission in the Federation of BiH has adopted amendments to the rulebook on Implementation of the Law on Takeover.
Thu, 27/04/2017
The new Law on Banks in the Federation of BiH has entered into force as of 20 April 2017.
The most preeminent changes are:
- The record date for shareholders meetings has been changed from 45 days to 30 days prior to the meetings.
- Announcements on the unforeseen shareholders meetings must be published at the latest 14 days prior to the meetings
- Quorum for the unforeseen shareholders meetings has been changed from 75% to 50%
Amendment to the rulebook on Implementation of the Law on Takeover in FBiH has entered into force as of 27 April 2017:
- In order to exercise the right to conduct the squeeze out procedure, enclosed to the other documents required by the Securities Commission, majority investors must deliver a proof that all the minority shareholders have been notified on the squeeze out via mail, e-mail or other method of direct delivery.
Impact on investors: New Law on Banks in Federation of BiH entered into force on the 20 April 2017. Amendment to the Rulebook on Amendment to the rulebook on Implementation of the Law on Takeover in FBiH has entered into force on the 27 April 2017.