Warsaw Stock Exchange to acquire 65.03% of Armenian Securities Exchange

20.05.2022 17:22
Warsaw Stock Exchange to acquire 65.03% of Armenian Securities Exchange

YEREVAN, May 20, /ARKA/. The Warsaw Stock Exchange (WSE) announced today that its Board of Directors gave a conditional approval to acquisition of 65.03% interest in Armenia Securities Exchange (AMX).

The seller is the Central Bank of Armenia, which currently holds a 90.05% stake in the share capital of AMX. As a result of the transaction, the WSE will acquire 967 ordinary shares of AMX, which will give it a 65.03% stake in the total share capital of AMX. The cost of the deal is AMD 826,297,550.00. The WSE will therefore become the majority shareholder of AMX.

As a result of the transaction, AMX's ownership structure will be as follows:

- AMX: 148 equity shares- 9.95% stake in the company's share capital.

- Central Bank of Armenia- 372 shares; 25.02% stake in the company's share capital.

- WSE: 967 shares - 65.03% stake in the company's share capital.

As a result of the transaction, the WSE will indirectly acquire control over Central Depository of Armenia, in which AMX currently holds a 100% stake. The total price of the shares in AMX acquired by the WSE will be AMD 826,297,550.00, payable in two tranches:

1. the first tranche in the amount of AMD 498,765,150.00 (drams) payable upon signing of the Share Purchase Agreement, obtaining the approval of the Central Bank of Armenia for the acquisition of the shares and fulfilling the other formal conditions required under the agreement;

2. the second tranche in the amount of AMD 327,532,400.00 (drams) is payable subject to the completion of all proceedings to which AMX is a party and which are set forth in the Share Purchase Agreement.

The acquisition of shares in AMX by the WSE will be conditional upon, among other things, the receipt of required corporate approvals. -0-


Tags: Новости Армении АМИ Новости-Армения

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