President Ilham Aliyev has amended the decree dated February 11, 2015, on the establishment of AzerGold CJSC.
Report informs that, according to the new decree signed by the President, the power to approve the Charter and structure of the Company, to determine the amount of the authorized capital was taken from the Cabinet of Ministers and delegated to the Azerbaijan Investment Holding.
Moreover, the holding will have the authority to approve the annual reports of AzerGold, financial statements, distribution of profits and losses, approval of dividend policy, decision-making on the issuance of securities and to decide on a transaction on over 25% of the value of the Company's net assets (a trade of special significance), as well as a transaction with the relevant person at the discretion of the independent auditor, the value of which is 5% or more of the Company's assets.