OREANDA-NEWS. December 11, 2009. The State Securities Committee (SSC) of Azerbaijan registered capital stock issues of the insurance company MBASK OJSC.

SSC informed that volume of issue amounts AZN 1 million.

5,000 ordinary nominal uncertificated shares of MBASK with AZN 200 each were registered in all.

Placement will be carried out by means of mass subscription.

At a shareholders’ general meeting held at the beginning of December Azerbaijan’s insurance company MBASK OJSC took a decision to increase its charter capital by AZN 1 million till the end of current year.

In compliance with the Law on Promotion to Capitalization of Banks, Insurance & Re-Insurance Companies” shareholders of MBASK made decision to direct company’s whole profit for 2009 for rise of charter capital.

As a result of the taken by shareholders decisions the company’s charter capital will grow more than two-fold and will amount to AZN 3 million by the end of 2009 and increase at least by extra AZN 1.5 million in the 1st quarter of 2010 at the expense of the company’s profit for 2009.

In 2010, the company’s capital will make AZN 4.5 million.