Category: 2022

The Board of the Warsaw Stock Exchange conditionally approved the acquisition of a 65.03% stake in the Armenian Stock Exchange, Bankier.pl reported.

On May 12, 2022, the Management Board gave conditional consent to the acquisition of a 65.03% stake in the Armenian Stock Exchange.

Seller, i.e. The Central Bank of Armenia (CBA) currently owns 90.05% of AMX’s authorized capital. 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 authorized capital of the acquired company, at a price of 826,297,550.00 drams.

The WSE will become the majority shareholder of AMX.

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

– AMX: 148 own shares; 9.95% stake in the authorized capital of the company.

– CBA: 372 shares; 25.02% stake in the authorized capital of the company.

– WSE: 967 shares; Share of 65.03% in the authorized capital of the company.

As a result of the deal, the WSE will indirectly gain control over the Central Securities Depository in Armenia, in which AMX currently owns 100% of the authorized capital.

The total value of the AMX shares acquired by the WSE will be AMD 826,297,550.00 and will be paid in two tranches:

1. The first tranche in the amount of AMD 498,765,150.00, payable after signing the share purchase agreement, obtaining the consent of the Central Bank of Armenia for the purchase of shares and fulfilling other formal conditions required by this agreement.

2. the second, in the amount of 327,532,400.00 drams, payable subject to the completion of all proceedings to which AMX is a party and which were specified in the Share Purchase Agreement in the manner specified therein.

The difference in the price of AMX shares in relation to the price set by the parties in the Terms and Conditions Agreement concluded with the Central Bank of Armenia on September 18, 2020 is due, in particular, to the change in the book value of the company that occurred in the period after signing.

The WSE’s acquisition of AMX shares will depend, in part, on obtaining the necessary corporate approvals. The Board of the WSE asked the Supervisory Board of the WSE for consent to the acquisition of AMX shares.

https://news.am/eng/news/702937.html

There should be no restrictions when it comes to freedom of speech and journalists’ work, U.S. Ambassador to Armenia Lynne Tracy said.

Her remarks came at the Armenian Democracy Forum on Friday.

She urged to take into account in Armenia those points that are criticized, reminding that there is also room for improvement in the fight against corruption, pointing to the huge number of challenges.

Speaking on Prime Minister Nikol Pashinyan’s view that citizens must be prepared to be participants in democracy, the Ambassador said this is an important factor for democracy to develop.

She noted that support is important in such spheres as the rights of women, people with disabilities, LGBT and cooperation with the Armenian government can provide development. She expressed her conviction that these categories of citizens need special attention.

Tracy reiterated that since 1992, the U.S. has allocated nearly $3 billion to improve living standards in Armenia. She expressed her gratitude to the Prime Minister of Armenia and Armenian people noting that cooperation would not be possible without the willingness to reap the benefits of support.

“The United States gained a good partner in person of the Armenian government. We are working in various areas that are aimed at promoting democracy, building democratic institutions, the fight against corruption, and economic development,” she said.

She highlighted the reforms of the electoral system carried out with the USA’s support during the last four years.

According to Lynne Tracy, the most important investments are in the sphere of human capital development because it is impossible to succeed in other spheres without it. She expressed her support for education, and retraining of journalists,” the U.S. ambassador concluded.

Azerbaijan has determined the composition of the national commission for the delimitation and demarcation of borders with Armenia.

Azerbaijani Prime Minister Ali Asadov said this today at a meeting of CIS heads of government held via videoconference, APA reports.

The Prime Minister noted that Azerbaijan also determined the composition of the delegation for the preparation of a peace treaty with Armenia.

Armenian Minister of Justice Karen Andreasyan sees “saboteurs” among journalists.

Andreasyan used this colorful and dangerous comparison at the Armenian Democracy Forum, where a narrow circle of “selected” media were admitted.

Addressing the forum participants, Andreasyan urged them “in these troubled and difficult times to distinguish between true journalists and saboteurs with handsets.”

The families of the missing and prisoners of war most of all expect justice, they demand justice, said Armenian Ombudsman Kristine Grigoryan during the Armenian Democracy forum on Friday.

According to her, those who returned from captivity and their families, forcibly deported, the families of the victims face many problems, but the most important requirement for them is justice.

“This is a collective trauma that creates a provocative field for the spread of the word of hatred.

We cannot say that after the war, justice has been restored to the missing persons and prisoners of war and civilians and their families held illegally in Azerbaijan,” Grigoryan added.

The US Ambassador Extraordinary and Plenipotentiary to Armenia Lynne Tracy answered the question of journalists, including Armenian News – NEWS.am.

In your interview with Armenpress, you mentioned that the US recognizes the role of the people of Nagorno Karabakh in determining its future. How do you think that role should be expressed?

What really important right now is to emphasize this principle. I don’t want to speculate on how this looks in the future. This is something for the people of Nagorno-Karabakh and the other parties to decide as they move forward with the negotiations.

In the same interview, you also talked about democracy in Armenia. Today during the Armenian democracy forum, journalists were not allowed to enter the meeting to cover the work of the forum. We see today’s actions against opposition MPs, the actions against the police, and protesters. And many believe that the United States and the US embassy are guided by double standards and are silent in today’s cases. Why is that?

I don’t think we have been silent. We have already spoken out in Washington and here that we call on the police to act appropriately, to avoid excessive force.
We also call on the protesters, who have the right to demonstrate peacefully, to also conduct themselves in a peaceful manner.
And we certainly call on all parties on the streets, the police and the protesters, to respect the rights of journalists to cover these events and not interfere with the work of journalists.

And I see that there have already been complaints filed. And I also see the police have committed to investigating these complaints. I think that’s very important, that is what democracy is about, it is about accountability. 

As I said in some of my remarks in the forum, democracy is not a state of perfection. We see in many democracies, including in the United States, ongoing issues of the need to reform the police and hold the police accountable. 

But these kinds of developments and situations do not mean that there is no democracy. What they mean is that citizens have the right to ask for accountability and the government is responsible for investigating and providing transparency and that accountability. 

And as I said a few minutes ago, I remain very encouraged about Armenia’s trajectory on the democratic path and we continue to work with the people of Armenia and the government of Armenia on this wider reform agenda to support democracy.

 Azerbaijani Prime Minister Ali Asadov noted the lack of progress in unblocking economic and transport links between his country and Armenia.

“Despite the ongoing meetings within the trilateral working group [at the level of vice-premiers of Russia, Azerbaijan and Armenia], there is no progress in unblocking economic and transport ties in the region in accordance with paragraph 9 of the tripartite statement,” the head of the Azerbaijani government said, speaking on Friday at a meeting of the Council of Heads of Government of the CIS in the format of a videoconference, the press service of the Cabinet of Ministers of Azerbaijan reports.

“Our policy is very open and clear. We are open to constructive dialogue, joint work with the aim of turning the South Caucasus into a region of peace, cooperation and interaction,” A. Asadov said.

Pointing out that Armenia accepted the five basic principles put forward by the Azerbaijani side in connection with the peace agreement, the Prime Minister said: “These five principles are the basic principles of international law, consistent with the UN Charter and the Helsinki Final Act.”

At the same time, A. Asadov noted that Azerbaijan expects full fulfillment by Armenia of the obligations undertaken within the framework of the Tripartite Statement of the leaders of Azerbaijan, Russia and Armenia.

The concern of the Azerbaijani side was expressed that paragraph 4 of the Tripartite Statement of November 9/10, 2020, which provides for the withdrawal of Armenian armed formations from the territory of the Republic of Azerbaijan, remains unfulfilled.