Title: Central Bank Paves the Way for Future Bank Shareholders to Access Investments
In a significant move to resolve the status of Future Bank’s shareholders, the bank’s Executive Resolution Committee has officially initiated the process for determining their shares. This action is being taken in direct implementation of a resolution from the High Council of the Central Bank of the Islamic Republic of Iran and the decisions of the heads of the branches of government concerning the bank’s resolution plan.
Key Regulatory Directives
The comprehensive plan, detailed in an official announcement, outlines a clear and structured path forward. A central component is the immediate suspension of Future Bank’s trading symbol on the stock exchange, to be enacted by the Securities and Exchange Organization upon the Central Bank’s request.
Guaranteed Exit Pathway for Shareholders
A pivotal element of the resolution provides a guaranteed exit option for shareholders. According to the directive, the Deposit Guarantee Fund is obligated to purchase the shares of Future Bank’s stockholders (excluding those who are part of the unified ownership entity) at the highest closing price recorded on the Iran Farabourse over the year leading up to the resolution’s approval date. This offer is valid for shareholders who wish to sell their holdings. The transactions for this specific process will be conducted outside of the official market trading session.
Operational Steps Underway
To ensure the accurate execution of this plan, the Executive Resolution Committee has formally requested Iran’s Farabourse Company to confirm and announce the highest closing share price. Furthermore, the committee has corresponded with the Central Securities Depository of Iran to obtain an updated list of the bank’s shareholders, ensuring all eligible parties are properly identified.
Two-Track Resolution Process
The framework establishes a clear two-track process for shareholders:
- Immediate Liquidity: Shareholders who choose to sell will have their shares purchased by the Deposit Guarantee Fund promptly after the necessary price and shareholder data are confirmed and coordinated with the Securities and Exchange Organization.
- Future Settlement: Shareholders who prefer not to sell at this stage will await the completion of the bank’s resolution process. The Future Bank resolution manager is tasked with evaluating and liquidating all of the bank’s assets and investments. After settling the bank’s debts with the relevant authorities, any remaining surplus will be distributed to these shareholders.
The committee has emphasized that shareholders opting against the immediate sale must wait until the resolution process is fully concluded and the net value of the bank’s assets is finalized.