Mongolbank special representative informed that Anod Bank has officially ended its operation some two weeks ago and announced the shareholders’ meeting on August 15 2010. According to the law, representative with full power shall summon shareholders’ meeting within two years after he or she took full power.
Many shareholders made request to held this meeting long ago, but now they are again frustrated with this sudden decision. However the meeting is being held and we will report you on its results. The biggest shareholder of Anod is Korean nationals with up to $5 million investment and about thousand domestic shareholders with over 10 billion MNT investment.
Unexpected shareholders’ meeting is re-scheduled to November 30 2010. Even though, shareholders established their own interim committee to protect their rights. Most of shareholders believe that Anod Bank can operate normally using its resource and capacity.