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    Sirma Group Holding is the first public IT company that held a GM through the Central Depository’s electronic platform for general meetings.


    Sofia, September 16, 2020 – Today Sirma Group Holding held their yearly shareholders General Meeting through the Electronic Platform for General Meetings of the Central Depository AD (EPOS) in order to comply with anti-epidemic measures related to the spread of COVID-19. Thus, Sirma Group Holding became the first public technology company to use EPOS in Bulgaria.
    Sirma Group Holding specializes in IT and software development, implementation, and systems integration. The company creates and develops world-class semantic software, cognitive business solutions, industrial applications, mobile platforms and applications, ERP software, solutions and services for the financial industry, payment services, e-government platform and services and more. Within the group, the subsidiaries create unique new products and services in their vertical specialisation.
    "Sirma responded to the pandemic with a strong focus on product development and the introduction of new technological solutions. This is what we do for our clients, this is also what we use in the company internally. EPOS allows us both to be flexible, given the pandemic restrictions on physical attendance, and provides much easier access for our investors to participate in a GM. EPOS is a great example of how technological solutions implemented due to the pandemic shift the whole process to the next level" said Tsvetan Alexiev, CEO of Sirma Group Holding.
     "It is a great honour for us that Sirma Group Holding has entrusted the holding of the General Meeting to EPOS. The largest Bulgarian IT company has chosen the Central Depository’s electronic platform during the global pandemic to organize its most important corporate forum in compliance with all security measures and participant care, "said Vasil Golemanski, CEO of the Central Depository AD.
    At the General Meeting, the shareholders of Sirma Group Holding had the opportunity to vote in advance (in person or by proxy), as well as online on the agenda proposals. At the meeting EPOS provided an automated calculation of the quorum and voting results, along with a composition of statistical information, including a preliminary version of the minutes with rudimentary details.
    EPOS is intended for holding GMs of public companies. At the same time, non-public companies can also benefit from its functionalities. The platform is accessed through a Qualified Electronic Signature (QES) that can be used in a variety of ways: for issuers that organize the GM; a company’s shareholder or an appointed proxy; and as a GM administrator. EPOS is supported in two languages ​​- Bulgarian and English, which facilitates foreign shareholders.
    The platform is available on the homepage of the Central Depository AD by selecting "Login to the electronic platform for general meetings" or from the link: http://epos.csd-bg.

 

Announcement from the Central Depository AD

 

    The Central Depository held its regular Annual General Meeting

    Sofia, July 28, 2020 – The Central Depository (CD) held its regular Annual General Meeting today. The shareholders of the CD decided to distribute 50.06% of the net profit after tax as a dividend. The amount set aside for dividend is BGN 73,600 or for 10,000 shares this is BGN 7.36 per share. The rest of the net profit or BGN 73,421.60 would be allocated to partially cover the loss from 2017. No funds would be transferred to the Reserve Fund, as the legally required amount of 1/10 of the capital had been exceeded within the meaning of Article 246, Subparagraph 2, Item 1 of the Commercial Law.

    The General Meeting approved the report of the Board of Directors on the company's activities and its certified financial statements for 2019. The shareholders released the members of the Board of Directors from liability for their activities in managing the CD for the past year and approved the auditing company AFA OOD to audit and certify the annual report of the company for 2020.

 

 
 

Announcement from the Central Depository AD

 

    BACB is the first public banking institution to hold a GM through the electronic platform for general meetings of the Central Depository

    Sofia, July 15, 2020 – Bulgarian-American Credit Bank (BACB) held today the regular General Meeting of its shareholders through the Electronic Platform for General Meetings of the Central Depository (EPOS) in order to comply with the anti-epidemic measures related to the spread of COVID -19. Thus, BACB became the first public banking institution to use EPOS in our country.

    The majority owner of BACB, which controls 61.56% of the bank's capital, is CSAF, and Ms. Tsvetelina Borislavova, who is the Chairman of the Supervisory Board of BACB, owns 100% of the capital of the direct shareholder CSAF. LBC LLC has a stake of 35.70%, and the remaining voting shares (2.74%) are in the hands of smaller shareholders.

    "BACB, as a universal bank, is active both in the retail and in the business segments. It has become a major business partner for the development of a resource-efficient, competitive and green economy. The Bank strives to further strengthen its market position in Bulgaria and at the same time to ensure the sustainable development of the business, despite the exceptional challenges we all face today.”, commented Ms. Tsvetelina Borislavova, Chairman of the Supervisory Board of BACB after the General Meeting of Shareholders.

    "We highly appreciate that BACB trusted the holding of the General Meeting of its shareholders through EPOS. This demonstrates that the Bank is a modern and innovative financial institution, which in a global pandemic uses the advantages of the electronic platform to make corporate decisions in compliance with all security measures and care for participants, " said Mr. Vasil Golemanski, CEO of the Central Depository.

    During the General Meeting, the shareholders of BACB had chosen to use two of the options to vote online or by proxy on the proposals on the agenda. The EPOS provided an automated calculation of the results of the voting during the meeting, as well as the receipt of statistical information, including a preliminary version of the protocol with the main details.

    EPOS is intended for holding general meetings of public companies, and non-public companies can also benefit from its functionalities. The platform is accessible through a Qualified Electronic Signature and the user can use it in several ways as: an issuer that organizes the general meeting, a shareholder in the company or a proxy appointed by him and an administrator of the meeting. EPOS is supported in two languages - Bulgarian and English, which allows the participation of foreign shareholders in general meetings through the platform.

    The platform is accesible on the website of the Central Depository: from the home page by selecting the button "Login to the electronic platform for general meetings" or from the link: http://epos.csd-bg.bg

 

 
 

Announcement from the Central Depository AD regarding the exercised rights in connection with the capital increase of the First Investment Bank AD

      Sofia, July 2, 2020 - Due to the serious public interest, Central Depository AD announces that as of the end of the business day today, July 2, 2020, the rights exercised in connection with the capital increase of First Investment Bank AD (FIB) are as follows:

      Shareholder Bulgarian Development Bank AD - number of exercised rights: 75 212 500; number of subscribed shares: 27 350 000;

      Shareholder VALEA FOUNDATION - number of exercised rights: 32 270 700; number of subscribed shares: 11 734 800;

      The deadline for subscription of shares from the capital increase of FIB is July 3, 2020.

 

      Equity Day will be held on June 25, 2020.

      June 01, 2020 - Bulgarian Stock Exchange and Central Depository organise the sixth edition of the Equity Day with the purpose to encourage the individual investors to actively take part in the capital market, to improve the investment culture and increase the knowledge of equity instruments as a form of investment in Bulgaria. “The initiative has increasingly established itself and especially in the current situation is expected with even greater impatience by individual investors in our country. Equity Day is a catalyst for their activity and role in the financial markets. Our expectations for this year's edition are that at least three times more transactions will be realised compared to the regular days,” said Assoc. Prof. Manyu Moravenov, CEO of BSE. “On June 25, individual investors who wish to dispose of their shares will be able to do so completely free of charge. We will be glad to observe the traditional activity this year as well and to draw people's attention to the opportunities for realising profitability through our capital market," added Vasil Golemanski, Executive Director of the Central Depository. On Equity Day all individual investors (natural persons), who are direct clients of investment intermediaries, will be able to purchase or sell shares on the BSE Main Market without fees and commissions to the Exchange, Central Depository and the investment intermediaries, supporting the initiative. The special feature will apply to at most 15 executed orders per individual during the Equity Day, having turnover of no more than BGN 2,000 per single executed order. All investment intermediaries, who support BSE and Central Depository in the Equity Day initiative, will not charge their clients (natural persons), whose transactions meet the aforementioned conditions. Further information on the Equity Day is available at website of the Exchange.

 
     
 

      Central Depository calls on companies in COVID-19 emergency situation to use its Electronic General Meeting Platform (EPOS)

      Sofia, March 24, 2020 – The Central Depository calls on the companies in COVID-19 emergency situation to use its Electronic General Meeting Platform (EPOS) . The platform allows all activities related to organization, generation of the shareholders’ / bondholders’ book and holding general meetings electronically. The benefits for the shareholders / bondholders of the companies are in the ability to pre-vote, appoint a proxy and, above all, attend general meetings without being physically present. EPOS provides an automated calculation of the results of votes at meetings, as well as the provision of statistical information, including a preliminary version of the Protocol with the main requisites.

      One of the most important advantages of EPOS is the ability to check the legitimate shareholders of a company, since only the Central Depository as a register maintains an up-to-date database of shareholders in public companies.

      "We believe that in the state of emergency in which Bulgarian business is, the Central Depository's electronic platform is the most appropriate way to hold general meetings. EPOS enables at the same time to comply with all requirements of the Bulgarian legislation, not to postpone events from the corporate calendars of companies and to meet the European standards for holding general meetings. That way, companies will be able to focus on their core business most effectively", said Vasil Golemanski, CEO of the Central Depository.

      EPOS is designed to hold general meetings of public companies, and non-public companies can benefit from its functionality. The platform is accessed through Qualified Electronic Signature (QES) and the user can use it in several ways, such as: a company that organizes the general meeting, a shareholder in the company or a proxy appointed by him and the administrator of the meeting. EPOS is supported in two languages - Bulgarian and English, which allows the participation of foreign shareholders in general meetings through the platform.

      The platform is accessible on the website of the Central Depository from the link: http://epos.csd-bg.bg

 

 

      June 12, 2019 – Equity Day

      Equity day will be held on June 12, 2019. Bulgarian Stock Exchange and Central Depository organise the fifth edition of the Equity day - an initiative in favour of individual investors. The purpose of the initiative is to improve the investment culture and increase the knowledge of equity instruments as a form of investment.

      The initiative has been established for five years and is eagerly awaited by individual investors in the country. "Equity Day" is a powerful tool to promote their activity and role in financial markets. Our expectations for the anniversary are that we will again have 3-4 times more transactions compared to the rest of the days," said Ivan Takev, CEO of BSE.

      Nearly 20,000 people have checked ownership of shares since the beginning of the year so far through the electronic services of the Central Depository. On June 12, individual investors who wish to dispose of their shares will be able to do it completely free of charge," added Vassil Golemanski, Executive Director of the Central Depository.

      On Equity day all local individual investors (natural persons) will be able to purchase or sell shares on the main market of the BSE without fees and commissions to the Exchange, Central Depository and exchange members, supporting the initiative.

      The special feature will apply to at most 15 entered and executed during the Equity day orders per individual, having turnover of no more than BGN 2,000 per single executed order.

      All exchange members, who support BSE and Central Depository in the Equity day initiative, will not charge their local individual customers, whose transactions meet the aforementioned conditions.

      Further information on the Equity day is available at: https://www.bse-sofia.bg/en/equity-day

 

European GMs E-MIG: Bulgaria is one of the most modern markets in Europe

      Sofia, 13 December 2018 - Bulgaria is one of the most modern markets in Europe, this acknowledgment was received at the annual meeting of the European Market Implementation Group of General Meetings (GMs E- MIG), which was hosted by the Central Depository in Sofia. The high rating for Bulgaria and the Central Depository came after the presentation of the innovative Electronic Platform for General Meetings (EPOS).

      “We accept the assessment as a huge recognition of our country and an even more serious commitment to the development of the European aspects of the Central Depository activity. As an institution that leads the trends, we are already responsible not only to observe but to participate in the establishment of best European practices " said Vassil Golemanski, CEO of the Central Depository.

      Among the main focus of the meeting was the implementation of the Market Standards for General Meetings in the EU member states. The implications of the Commission implementing regulation laying down minimum requirements implementing the provisions of Directive 2007/36 as regards the identification of shareholders, the transmission of information and the facilitation of the exercise of shareholder rights on the General Meetings Standards were discussed. Opinions were exchanged on the implementation of the revised Shareholders Rights Directive and the Implementing Regulation in the EU Member States as well as in the EEA countries or those non-EU countries with an equivalent regime.

      Mentor of the meeting was Mr. Markus Kaum, Chairman of GMs E-MIG. The Forum was attended by nearly 40 top-level representatives from the European Association of Central Depositories - ECSDA, Euroclear, Clearstream, Iberclear, JP Morgan, Citibank Europe, Societe Generale, Deutsche Bank and as well as the representatives of National Market Implementation Groups from the depository institutions of the EU Member States.

 

Central Securities Depository joined the elite club of European depositories

The institution fulfilled comprehensive regulatory requirements governing the organization of CSDs in the EU and acquired a license to operate in the member states of the Union directly or via links with other depositaries

 

      Sofia, September 19, 2018 – The Central Securities Depository has acquired a license to operate in the EU member states directly or via links with other depositories. The license issued by the Financial Supervision Commission certifies that the Depository is compliant with Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 2014 on the improvement of the securities settlement in the European Union and for Central Securities Depositories, and amending Directives 98/26 / EC and 2014/65 / EU and Regulation (EU) No 236/2012.

      Thus, the Bulgarian institution becomes the fifth in the Union, which already holds such a license together with the depositories in Austria (OeKB), Denmark (VP Securities), Latvia - for all Baltic countries (NASDAQ) and Portugal (Interbolsa), according to the ECSDA.

      “Joining the EU's elite club of depositaries means prestige and recognition for Bulgaria and our capital market, confirms that the Central Securities Depository applies the leading European practices in the field and best recognizes the high professionalism of our team. We are thankful for the expert support of our colleagues and the management of the Commission's Investment Activity Supervision Division, with whom we together have achieved this strategic goal in the name of our country.", said Vasil Golemanski, CEO of the Central Securities Depository.

      The licensing of the Central Securities Depository is part of the Strategy for Development of the Capital Market in Bulgaria. It focuses on the internal potential based on organic growth and the development of a wide range of services to attract international investors to the market in our country. The aim is to ensure that market participants do not have to look for foreign post-trading services providers, as the solutions offered in Bulgaria are attractive to international investors operating on the local financial market.

      About Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 2014

      The main objective of CSDR is to increase the safety and efficiency of securities settlement and settlement infrastructures (CSDs) in the EU by providing, among others, for the following: shorter settlement periods; settlement discipline measures (mandatory cash penalties and ‘buy-ins’ for settlement fails); an obligation regarding dematerialisation for most securities; strict prudential and conduct of business rules for CSDs; strict access rights to CSD services; and increased prudential and supervisory requirements for CSDs and other institutions providing banking services ancillary to securities settlement

 

Establishment of a Council for Bulgarian Capital Markets Development. 

      Today, Oct 10th 2016, based on the initiative of the Central Securities Depository, the Financial Supervision Commission (the FSC), and Mr. Delyan Dobrev, MP and in partnership with numerous NGOs was established the Bulgarian Capital Markets Development Council.

      The initiative is backed by the Association of Banks in Bulgaria, the Association of Bulgarian Insurers, the Association of Bulgarian Investor Relations Directors, the Special Investment Purpose Companies Association, the Bulgarian Industrial Capital Association, the Bulgarian Association of Supplementary Pension Security Companies, the Bulgarian Association of Licensed Investment Intermediaries, the Bulgarian Association of Asset Management Companies, the Bulgarian Industrial Association, the Bulgarian Stock Exchange, the Confederation of the Employers and Industrialists in Bulgaria and the Bulgarian National Corporate Governance Committee. Management representatives of the aforementioned institutions and organisations signed today the Memorandum on the establishment of the Council.

      The Council is established to act as an official platform for cooperation among the organisations operating in the non-banking financial sector. Among its priorities are elaboration of an overall strategy and roadmap for capital markets development in the mid- and long-term, attracting new listings and higher trading volumes, improved regulatory framework, creation of conditions for financing of small- and medium-sized enterprises, introduction of new financial instruments and stimulating public offerings via EU operational programmes and funds.

      A Steering Committee will implement all Council’s priorities and its members will be the representatives of the organisations who signed the Memorandum. The functions to be performed by the Steering Committee are analysis of capital markets, preparation of assessments and forecasts, initiation of public debates and research on discussion topics, elaboration of a national program for raising financial literacy of the key financial services customer groups and preparation of proposals for legislative changes. The Steering Committee will act based on rules of equal treatment of all participants in order to adopt common positions on significant issues and will carry out constructive consultations by not allowing conflicts of sectoral interests and individual cases of the Council’s members to prevail.

      The Memorandum has been signed for an indefinite period and other stakeholders of the non-banking financial sector, who share its principles, may join the Council. The American Chamber of Commerce in Bulgaria already joined as an associated member.

      The entire Memorandum and the Council's Guiding Principles can be found here and here.

 

      Dear Sir/Madam,

      With reference to article 6 of directive 98/26/EC on settlement finality, please be informed that on 17 May 2013 at 05:31 pm compulsory administrative liquidation procedure as regard as Credito Aretuseo Banca di Credito Cooperativo - Societa cooperativa (ICRAITRRUJ0) was opened.

 

Kind regards,
Fabrizio Palmisani  
Head of Payment System Department