By Decision № 826 - FVC from 07.12.2016 the Financial Supervision Commission approved the replacement of the servicing company of Arco Towers REIT. As of 07.12.2016, a servicing company within the meaning of Article 18 of the Special Investment Purpose Vehicles Act is Configarma AD. Pursuant to a contract for performance of activity as a servicing company concluded between ARCO TOWERS REIT and CONFIRMA AD, CONFIRMA AD undertakes to perform functions of a servicing company within the meaning of Art. 18 of the Special Purpose Vehicles Act.
CONFIRMA AD is a joint-stock company incorporated in 2004. The company is an accounting enterprise within the meaning of §1 item 27 of the Accountancy Act and since its establishment it is specialized in the following activities: • construction of residential, public, industrial buildings, reconstruction and restoration of existing buildings, engineering related to construction; • investment in real estate, including preparation and consulting in the financing of investment projects; project management relating to the acquisition, construction, improvement of real estate; • real estate management.
"KONFIRMA" AD carries out part or all of the following activities:
• Investigation of the status of real estate and real rights and collection of the necessary documents in order to obtain the fullest possible information about the respective asset;
• performance of procedures for changing the purpose of the real estate - property of ARCO TOWERS REIT;
• Preparation of proposals for the conclusion of transfer transactions, transactions for the establishment of limited real rights, contracts for renting or renting and other transactions in connection with the activity performed by ARCO TOWERS REIT;
• control over the performance of the contracts concluded by the Contracting Authority, insofar as this is provided in the relevant contract or in force legislation;
• maintenance and management of real estates - property of ARCO TOWERS REIT;
• creating financial and economic models and structuring investment projects in real estate and real rights;
• preparation of prospectuses for public offering of securities
• preparation of credit ratios for investment credits and preparation of the annual financial report and provision of its certification by a registered auditor, as well as preparation of other financial statements in accordance with the effective legislation;
Pursuant to the requirements of the Special Investment Purpose Companies Act and the Public Offering of Securities Act ARCO TOWERS REIT has concluded a contract with Raiffeisenbank (Bulgaria) EAD for depository services. Under this agreement, Raiffeisenbank (Bulgaria) EAD accepts and undertakes to perform the functions of a depository bank, namely:
• Preservation of assets in the form of cash and securities of ARCO TOWERS REIT issued or guaranteed by the Bulgarian State as well as other securities which ARCO TOWERS REIT is entitled to own according to the law and its Articles of Association;
• Execution of payments and operations under the order of ARCO TOWERS REIT on its behalf and on its account in the course of servicing and administering its assets in money and securities up to the amount of the relevant amount on its accounts with the Depository Bank for Money and / or securities;
• Servicing payments and transactions in the securities transactions of ARCO TOWERS REIT in connection with the investment of its assets, as well as carrying out actions related to the securities, such as providing information, statements, interest payments, principal payments, etc. .
• RAIFFEISENBANK (BULGARIA) EAD has all the obligations under the contract, which the SPVC, POSA and the implementing regulations require for the depository bank, including:
• to store and report separately the assets of the Company from its own assets as well as from other assets attracted for storage and management;
• to make all payments in compliance with the conditions provided in the Statute of ARCO TOWERS REIT and to ensure the use of the Company's revenues in accordance with these acts and with the law;
• in the performance of its duties to be governed by the interests of ARCO TOWERS REIT.
The contract for depository services between ARCO TOWERS REIT and RAIFFEISENBANK (BULGARIA) EAD is concluded for a period of one year.