‘LendMN’ JSC, the most recent company listed on the MSE, announced that it will convene its Extraordinary Shareholders' Meeting on 10 May 2018 and the meeting agenda included the discussion on 'Approval of the share buyback'.
In accordance with the Clause 33.7 of Company Law of Mongolia, the shares bought back by the company are considered to be authorized but not issued share. Therefore, the reduction in the number of issued shares may present the risk of failure to comply with the listing requirements set by the Mongolian Stock Exchange. In accordance with the direction given by the Mongolian Stock Exchange, ‘LendMN’ JSC removed the issue of ‘share buyback’ from the agenda of the Shareholders' Meeting, scheduled on 10 May 2018.
Click here to see the official letter from LendMN JSC.
MONGOLIAN STOCK EXCHANGE