The nssmc includes five issuers to the list of fictional signs

At the meeting on September 30, 2021, the NSSMC approved a number of resolutions to include five joint-stock companies to the list of issuers with signs of fictitiousness and to suspend the circulation of their securities:
– PJSC «BRAILIVSKE»;
– PJSC «LONDON-BRISTOL»;
– PJSC «FINANCIAL AND INVESTMENT SOCIETY «FUND» ;
– PJSC «PODIL TELEPHONE COMPANY MITEL»;
– PJSC «NGMZ-BUR».

The NSSMC conducted a thorough analysis of compliance with the criteria of fictitiousness of issuers of securities on the basis of the regular annual information available to the NSSMC for 2020 and the statement of financial position.

Thus, the regulator’s specialists found violations in the activities of companies and compliance with the criteria of fictitiousness, namely:
– the average monthly salary for the reporting period is less than the minimum salary set by the law;
– lack of net income from sales as of the end of the financial year;
– current assets account for less than 25% of the issuer’s assets as of the end of the reporting period;
– failure of the joint-stock company to hold a general meeting of shareholders for two consecutive years, or failure to form management bodies of the company within a year from the date of registration by the NSSMC of the report on the results of private placement among the founders of the company.

Each of the joint-stock companies meets at least three of the above signs of fictitiousness, which is the basis for inclusion in the List of issuers with signs of fictitiousness.

It will be recalled that the List is an open and accessible database for everyone, to which issuers are included who do not comply or intentionally violate the established norms of current legislation in their activities. The issuer may be excluded from the List if it submits to the regulator documents confirming the elimination of the grounds for recognizing it as having signs of fictitiousness. The NSSMC forms, maintains and amends the List electronically and publishes it on its own official website
https://www.nssmc.gov.ua/register/nahliad/kontrolna-diialnist/#tab-1