A month after reinstating a trading ban on the shares of Greek-owned energy company Energoni AD, Bulgaria’s Financial Supervision Commission (FSC) froze one of the two key items on the upcoming extraordinary shareholders’ meeting of the stock market’s largest company by capitalisation.

The decision made by FSC deputy chairperson Dimana Rankova was posted on the watchdog’s website.

On August 30, Energoni’s shareholders were scheduled to vote on dismissing from their posts and absolving from responsibility ihail Georgopapadakos and Konstantinos Sarakelos. According to the proposal, the two had to be replaced by Anton Ivanov, former board chairman of Bulgaria"s Kozloduy nuclear power plant, and Ivan Hinovski, former board member of state-owned power utility NEK.

However, the FSC will prevent shareholders from approving the proposal as it claims the company failed to submit the nominees’ criminal records.

Energoni argues that this information is usually provided in the final days leading up to the shareholders’ meeting or during the meeting. The FSC said no such practice existed, pointing out that at a previous meeting and vote on such a proposal the documents were provided together with the invitation for the meeting.

The company can appeal against the decision within a two-week period but this would not prevent the execution of the regulator’s decision, which means that the proposal will not be voted at the upcoming meeting.

Shareholders will also vote on the selection of an auditor for its 2010 financial report. The nominee, Marko Terziyski, is the same person who made no remarks on the firm’s interim first-quarter report, prompting a request for another opinion from Ernst & Young by the FSC.