On refusal to cancel licence of management

The Bank of Russia took a decision to refuse to cancel a licence to manage investment funds, unit investment funds and non-governmental pension funds issued to the closed joint-stock company Ermak Management Company (hereunder, Management Company) (PSRN: 1025900507885; licence No. 21-000-1-00029 , dated 29 September 1998) due to the existence of non-fulfilled liabilities on the agreements the Management Company signed to conduct the activity licenced to manage investment funds, unit investment funds and non-governmental pension funds.

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22.12.2014 00.00.00