Zaharni Zavodi AD To Increase Capital, Issues Bonds
Zaharni Zavodi AD (
)has appointed a general meeting of shareholders September 14 to vote a proposal for equity capital increase using own funds. The company intends to transform reserves into equity capital, the State Gazette reports.
Shareholders will also authorize the Board of Directors to increase capital in compliance with art.114 of POSA. Under the provisions of art.114, capital may be increased through the issuance of rights or by converting bonds.
Another issue on the agenda of the general meeting is a proposal to authorize the Board of Directors to issue an emission of bonds.
Shareholders will also approve deals in compliance with art.114 of POSA.
Zahar Invest controls 43% of the company's capital, GU Faradey and Rhythm-4-CB have 25.58%, and 25.55% respectively.
Currently on the BSE, the stock is up18.33% to 112.76 leva.