ELDERS AND DISABLED CAN EXCHANGE THEIR CASH FOR SHARES
Ulaanbaatar, Mongolia /MONTSAME/ Those elders and disabled people who have taken MNT 1 million instead of receiving 1,072 stocks of the "Erdenes Tavantolgoi" LLC have become able to return back the cash, exchanging for the stocks. If he/she is willing to do so, the person should address a social worker of the belonged soum or khoroo (smallest administrative unit in Ulaanbaatar city).
A decision concerning the issue was made by a regular cabinet meeting held on Wednesday, approving the regulation on coordinating the procedure of trading the Erdenes TT's shares to national entities, allocating the shares to each citizen and selling the shares owned by citizens to the government.
The Minister of Social Welfare and Labor T.Gandi has been obliged to make a list of names of those who want to return back the cash, exchanging it for the shares in June 25 and to submit it to the Securities Cleaning Settlement and Central Depository House LLC.
As of May 29, one million, 532 thousand and 853 citizens have put forward their requests to sell the shares to the government. Also, there are many people who do not have knowledge about stocks and faced too short period to submit the requests. Some people have started to make requests to take the shares instead of money.
Moreover, elders, the disabled and students are able to deliver their requests to exchange their cash for the shares because this year's budget had necessary capital.
B.Khuder
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