Circular No. 002-2004 on Required Documents for Registration by the Regional Council of Private Placement Issuances and Their Execution

WEST AFRICAN MONETARY UNION

REGIONAL COUNCIL FOR PUBLIC SAVINGS AND FINANCIAL MARKETS CIRCULAR NO. 002-2004 ON REQUIRED DOCUMENTS FOR REGISTRATION BY THE REGIONAL COUNCIL OF PRIVATE PLACEMENT ISSUANCES AND THEIR EXECUTION

The Regional Council for Public Savings and Financial Markets reminds issuers and Management and Intermediation Companies (SGI) that processing a registration application for a bond issuance via private placement requires the prior submission of all documents and information required by Instruction No. 30/2001 on the registration conditions for bond issuances via private placement, specifically in Articles 5 and 6.

The Regional Council further specifies that legal documents, notably the articles of association and minutes of deliberative bodies submitted as part of the registration application, must be original signed copies or, failing that, duly authenticated copies. Photocopies are not accepted.

The Regional Council recalls that although guarantees are not required for private placement bond issuances, an issuer deciding to guarantee its issuance must provide the guarantor institution's decision in its application.

The Regional Council further reminds SGI companies responsible for placing securities issued in the context of private placement bond issuances that they must carry out the placement to the exclusion of any other placing network. Furthermore, subscribers whose names appear on the investor list submitted to the Regional Council may participate in the operation only for their own account.

This circular shall be published wherever necessary.

Done in Abidjan, on January 14, 2004

The Secretary General Edoh Kossi AMENOUNVE

AVENUE JOSEPH ANOMA 01 P.O. BOX 1878 ABIDJAN 01 TEL. (225) 20 21 57 42/68/83 – FAX (225) 20 33 23 04 E-mail: sg@crepmf.org