The holder of the controlling shareholder is obliged to propose to buy other shares of the other shareholders to buy at a price not less than the last six-month market price within 60 days in accordance with the law. In doing so, we remind the Committee to adhere to the “Procedure for Procurement of Stock Companies and Share Buy-Shares” approved by the Commission in 2015.
An investor who has acquired or owned a stock company shares alone or in conjunction with its affiliated person of more than one third of the common shares of a stock company, is obliged to notify the Financial Regulatory Committee within 10 working days from the date of purchase.
For notice, If investor does not meet any of the obligations set forth in Article 57.1 of the Company Law, the shares held by such person shall be subject to become no voting rights.
Source: www.frc.mn