The Order on the establishment of “AzerGold” Closed Joint-Stock Company was amended

President Ilham Aliyev signed an order amending Presidential Order No. 1047 dated the 11th of February 2015 “On the establishment of “AzerGold” Closed Joint-Stock Company”.

Pursuant to the Order, the authority to approve the Charter and structure of “AzerGold” Closed Joint-Stock Company and determine the amount of its Charter Capital has been transferred from the Cabinet of Ministers to Azerbaijan Investment Holding, AIH.

In addition, AIH approves the annual reports of “AzerGold”, financial statements, allocation of profits and losses, approval of dividend policy, decision on the issuance of securities (bonds), deals in excess of 25 per cent the value of the Company’s net assets (deals of special importance), as well as the decision of the independent auditor to conclude a transaction with the relevant person, the value of which is equal to and /or more than 5 per cent of the Company’s assets.