According to the legislation of the Republic of Uzbekistan and the charter of the JSC “Bukhara enterprise of territorial electric networks” the redemption of placed shares of the Company is performed in the following cases:
I. According to the decision of the general shareholder meeting on reduction of an authorized fund (authorized capital) of the Company by part acquisition of placed shares and reducing their total quantity;
II. According to the solution of the supervisory board of the Company for the purpose of the subsequent resale of shares;
III. Upon the demand of shareholders if they voted against or did not take part in vote on reasonable excuses in case of adoption of decisions by the general shareholder meeting about:
a) reorganization of the Company;
b) consolidations of the placed shares;
c) making of the large deal connected with acquisition or alienation of property by the Company according to parts of the second and third article 84 of the Law of the Republic of Uzbekistan “About joint-stock companies and protection of shareholder rights”;
d) modification and the additions in the company charter or approval of the company charter in the new edition limiting their rights.
Acquisition of own shares by the Company is made independently or through professional participants of the security market if other is not established by the legislation.
At present the JSC “Bukhara ETEN” does not perform the redemption (acquisition) of placed shares of the Company.