OREANDA-NEWS. April 18, 2011. Veaceslav Ionita, the chairman of the parliamentary commission for economy, budget and finance, said that according to the approved alterations, minority shareholders of joint stock companies in Moldova have obtained the right to demand purchase out shares belonging to them from a shareholder, which individually or together with the affiliated persons owns over 90% of the joint stock company’s voting shares and which has made a public offer to get control in the secondary securities market.

It is stipulated that a minority shareholder, initiating the procedure of the withdrawal from the joint-stock company, is to address to the company with an application, pointing out the data on the shareholder’s personality, name of the issuer, the number of each class’s shares belonging to him, the requested method of payment for the sold shares, the method carrying out of the transactions.

Under the law, a majority shareholder is to satisfy the minority shareholder’s application at the price, set within one of four mechanisms proposed by the law, within 30 days from the day of receipt of the application. There are 170 thousand people – minority shareholders in Moldova.