Abris appeal eases order to sell FM Bank stock

Financial market regulator KNF has reversed its order for Abris-EMP Capital Partners Ltd. to sell its stake in FM Bank PBP. Nonetheless, the regulator upholds a ban on exercising voting rights by the investor. A 4:1 majority voted to maintain the ban, allowing for the KNF to launch a sale of shares if necessary. The main reason for the decision against Abris is failure to meet investor obligations to which they committed in front of the KNF. Abris appealed an earlier order for sale of the full stake of shares, while at the same time launching a sale process, as stated in a PAP release.