The procedure for withdrawing shares owned in companies by minor shareholders will be described in a separate article of the law on join stock companies, in accordance with a European directive on the issue, Info-Prim Neo reports, quoting a Government decision. Under the amendments, the minor shareholder has the right to ask the major shareholder (that owns more than 90% of a company's shares individually or together with affiliated persons or companies) to buy their shares. The application can be filed within three months of the expiration of the public offer to purchase shares from the secondary market. The major shareholder must deal with it within 30 days. The purchase price of shares from the minor shareholder will be at least equal to the highest price of the following: the average weighted selling price of the shares in the last 12 months, the net asset value per share according to the financial situation of the company, the estimated value of the shares. The costs of drawing up the assessment report for setting the price and withdrawing the shares will be covered by the major shareholder. The amendments say the treasury bonds cannot exceed 10% of the value of the registered capital. They also say that the holders of preferred shares should be allowed to vote if they do not get dividends from the company. The national financial market regulator considers the amendments will ensure better protection of the rights of the shareholders (investors) and will prevent conflicts of interest in joint stock companies.