Serbia, preparation of Law that will include special measures for protection of minor stockholders during takeover of companies

The assistant to the Minister of Finance, Goran Anđelić, represented changes and supplements to the Law on Securities Market and Other Financial Instruments and other regulations that regulate procedure for takeover of stock companies. This Law will be applied to open stock companies whose stocks are bought and sold on the financial market of Serbia. THe offers for takeover of stock company will have to be announced in public and delivered to each stockholder in the company. The offer will relate to 100% of stockholders, the prices of stocks will be the same for everyone, as well as other terms. The law will define the takeover procedure, whereas the Securities Commission will supervise the very procedure.

None of the companies could be taken if its stocks didn’t appear on stock exchange 3 months before.