At a general meeting held 29 June, shareholders in Euroins AD-Sofia approved capital increase and dividend distribution, BSE reports.

Shareholders approved a simultaneous reduction and increase of capital. The capital will first be reduced from 7 499 996 leva (3 834 687 euros) to 7 499 994 leva (3 834 686 euros) via the devaluation of two shares. Capital will then be increased from 7 499 994 leva (3 834 686 euros) to 9 999 992 leva (5 112 914 euros), by transforming part of 2006 profit which stands at 2 499 998 leva (1 278 228 euros) into capital, by issuing 2 499 998 new shares with a face value of 1 lev.

New shares will be allocated among shareholders in proportion to their interest in the capital prior to its increase. No real cash payments will be made.

Shareholders also approved to pay out 1 270 000 leva as dividend (649,340 euros), or 0.169333423 leva per share. Another 467 132.01 leva will be allocated to the Reserves Fund.

The company's net profit for 2006 stands at 4 237 130.01 leva (2 166 410 euros) after taxes.

The final date for transacting the shares of the company as a result of which the holder will be entitled to dividend and to receiving new shares from the capital increase, is 11 July 2007.

Eurohold Bulgaria AD is principal shareholder controlling 60.35% of the capital.

Euroins stock hit new record level on the BSE today at 17 leva. The stock added 9.41% to an average of 16.39 leva today.