Circular No. 005-2005 on the Statements Regarding the Subscription Period and Value Date in the Information Note

Regional Council for Public Savings and Financial Markets (CREPMF)

West African Monetary Union

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CIRCULAR No. 005-2005

ON THE STATEMENTS REGARDING THE SUBSCRIPTION PERIOD AND VALUE DATE CONTAINED IN THE INFORMATION NOTE

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The General Secretariat of the Regional Council for Public Savings and Financial Markets (CREPMF) reminds Management and Intermediation Companies (SGI) that:

1. The subscription period for market operations must begin, at the earliest, from the date of receipt of the Regional Council's decision authorizing the operation.

• When submitting the application to the Regional Council, the draft information note must contain only an indicative subscription period that accounts for the procedures to be completed until the operation is authorized;
• The effective subscription period is the one that must be stated in the definitive information note approved by the Regional Council.

2. The value date of the bonds must occur, at the latest, fifteen (15) calendar days after the closing of subscriptions.

Consequently, Management and Intermediation Companies and issuers are invited to take the above indications into account when preparing their information note and advertising documents related to market operations.

Issued in Abidjan, on August 1, 2005

The General Secretary

(Signature)

Edoh Kossi AMENOUNVE

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P.O. Box 1878 Abidjan 01/Côte d’Ivoire – Joseph ANOMA Avenue TEL.: (225) 20215742/20215768/20315620 Fax: 20332304 Email: sg@crepmf.org/ Website: http://www.crepmf.org