May 06, 2016 12:54

Commission has issued a written warning on “YOURNET” Ltd

GNCC has issued a written warning on “YOURNET” Ltd.

On March 21, 2016, the Commission has received a letter from “YOURNET” Ltd notifying Commission in regard to the changes provided in company’s founding documents. In accordance with the Georgian law “on Electronic Communications,” any intent of entity/entities authorized in electronic communications, related to the merger, acquisition/alienation of shares or operational assets, shall be notified to the Commission in advance.

The company has alienated shares without commission’s prior consent and has failed to notify the Commission in regard to the transaction noted within a time limit defined by law.  Written warning has been issued on company due to the above-mentioned violation.

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