1. The Commission approved the prospectus for secondary public offering of an issue of corporate naked debentures issued by the Bulgarian-American Credit Bank Plc. The said issue amounts to EUR 8 mln. allocated in 8 thousand pieces of ordinary, interest-bearing, registered, dematerialized, freely-transferable, naked corporate debentures, having nominal and issue value of EUR 1,000 each. The maturity set is 36 months, with a 6-month period of interest payments. The Commission entered the above issue into the Registry.

 2. The Commission divested the investment intermediary Capital Finance LLC, Sofia City, of the right to effect transactions in securities for its own account, to underwrite issues of securities and the right to borrow securities.

 3. The Commission approved a recovery programme of the investment intermediary MacCup Brokers JSC, Sofia City, with regard to the sale of shares of the company’s own securities portfolio. The programme’s implementation timeframe is until September 26, 2005.

 4. The Commission issued a licence to Advance Terrafund SPV to perform activities as a special purpose vehicle, and namely: investment of funds raised through issuance of securities into real estates (real estate securitisation). The Commission approved a prospectus for public offering of 150,000 pieces of ordinary, registered, dematerialized, freely-transferable voting shares, having nominal and issue value of BGN 1 each, as a result of increase in the company’s capital. The Commission entered the above issue into the Public Companies and Issuers of Securities Registry.

 5. The Commission issued a final prohibition on the publication of a tender offer submitted by Tourist Trust SPLTD., Sofia City, for the purchase of shares of Intertravelservice JSC, Sofia City, from the company’s other shareholders through the Investment Intermediary Capman Inc., Sofia City.

6. The Commission issued an actuarial licence of pension assurance companies and of the funds for supplementary pension insurance managed by these to three persons: Hristina Miteva, Dochko Boyadjiev and Valentina Ivanova.

1. The Commission approved a prospectus related to a secondary public offering of shares issued by Euroterra Bulgaria JSC, Sofia City. The said issue is to the amount of BGN 2 million, allocated in 2 million pieces of ordinary, registered, dematerialized, freely transferable shares, having a nominal value and issue price of BGN 1 each. The Commission entered the aforesaid issue into the Registry for the purpose of trading these on the regulated market, and entered Euroterra Bulgaria JSC as a public company.

 2. The Commission approved a prospectus related to a secondary public offering of an asset-backed security, corporate bonds issued by TECHNOLOGICAL CENTRE – INSTITUTE OF MICROELECTRONICS (TC-IME) Single Person Joint-Stock Company, Sofia City. The said issue is to the amount of EUR 12 million, allocated in 12,000 pieces of ordinary, interest-bearing, registered, dematerialized, freely transferable, asset-backed corporate bonds, having a nominal value and issue price of EUR 1,000 each. These have a 36-month maturity, fixed coupon of 8 % on annual basis, and a 3-month period of interest payment and a maturity on April 26, 2008. The Commission entered the aforesaid issue into the Registry and TECHNOLOGICAL CENTRE – INSTITUTE OF MICROELECTRONICS (TC-IME) Single Person Joint-Stock Company as an issuer.

 3. The Commission divested the investment intermediary MAKLER – 2002 JSC, Plovdiv, of the right to effect transactions in securities for its own account, to underwrite issues of securities and the right to borrow securities.

 4. The Commission issued a supplemental licence to Armeetz JSC Insurance Company, Sofia City, to perform activities in the field of active re-insurance.

 5. The Commission adopted Directions for the interpretation and implementation of Ordinance No. 3 on the terms and procedures for switching participation and transferring the amounts accrued in an insured person’s individual account from one supplementary pension fund to another fund of the same type, managed by another pension insurance company. The said Directions shall be published on the website of the Financial Supervision Commission.

1. The Commission issued a temporary prohibition on the publication of a tender offer submitted by Radino PLC, Sofia City, for the purchase of shares of Kramex JSC, Sofia City, from the company’s other shareholders through the Investment Intermediary Financial House Ever Inc., Sofia City.
2. Sofia Invest Brokerage JSC, Sofia City, was divested of the right to effect transactions in securities for its own account and to underwrite issues of securities.
3. The Commission adopted at first reading Draft Regulation on the organization and operation of the Investors in Securities Compensation Fund. The Draft shall be published on the website of the Financial Supervision Commission.
4. The Commission adopted at first reading Draft Ordinance on the internal information and the internal persons, and on the unfair trade and securities market manipulation. The Draft shall be published on the website of the Financial Supervision Commission.
5. The Commission adopted at first reading Draft Insurance Code. The Draft shall be forwarded to all parties interested and shall be published on the website of the Financial Supervision Commission.

1.The Commission issued a voluntary health insurance licence to Health Insurance Institute PLC(undergoing a process of incorporation), Sofia City.The said licence shall authorize the offering of three  health insurance packages :”hospital medical aid”,”extra-hospital medical aid”, “health improvement and illness prevention”
2.The Commission did not issue a final prohibition on the publication of a tender offer submitted by I. S. Mihailov EOOD, Bourgas, for the purchase of shares of Monolit – Stil AD, Bourgas, from the company’s other shareholders through the Investment Intermediary BenchMark Finance AD, Sofia City.

The Commission adopted Ordinance on the amendment to Ordinance No 9 on the terms and procedures for valuation of assets and liabilities of supplementary pension funds and pension insurance companies, the value of the funds net assets, on calculation and announcement of the value of a unit , as well as on the requirements for maintaining individual accounts.The Ordinance shall be published in the State Gazete.