“Erdenes MGL” company’s shares are allocated to each Mongolian citizen according to 39th of Resolution of Mongolian State Great Khural 2010 and the Mongolian Government Decree No. 98 of 2011, Article 116 of the 2012. Within the framework of the government resolutions, company’s shares are registered in the Mongolian Securities Clearing House & Central Depository.
“Erdenes MGL” companies shares are not registered on the Financial Regulatory Committee and the Mongolian Stock Exchange and stock is not traded yet, decision of trading of its own shares to the public is depends from various factors such as company’s management team, the company’s assets and business valuation, current and future value of the commodities on the market as prices, corporate governance, management team ethic and rational investors’ desires, interests and needs and because of so much preparatory professional work and time required for set, “Erdenes MGL” LLC has launched a related tasks to ensure the preparation is in well condition.
However, we are receiving notifications and complaints from citizens which some participants are taking a such advantage misleading them and convincing them to open securities accounts urgently to hold securities entitlements of ownership rights of “Erdenes MGL” company’s shares to buy or sell and submit or distribute cash. We are officially announcing that each citizen has their option as a right to participate on the trade and open accounts through a participants which approved by the FRC, but only just for the keeping entitlement of “Erdenes MGL” company’s shares immediately is not necessary at this time being.
Please, for your caution we would like to remind each citizen that according to article 2.3 of the Government resolution of 350 Mongolian 2010, Mongolian citizens and business entities owned by “Erdenes MGL” LLC shares shall not be sold or transferred until secondary market opened.
Financial Regulatory Committee