At a meeting held August 8, the Board of Directors in Bulland Investments REIT Sofia (

) adopted a decision for capital increase from 5 469 641 leva (2 796 583 euros) to 16 408 923 leva (8 389 749 euros).

The company offers for subscription 10 939 282 shares with a face value of 1 lev and isuue value of 1.25 leva.

Bulland Investments REIT issued 5 469 641 rights, the proportion between issued rights and new shares being 1 to 2. Stockholders may subscribe a minimum of 1 share, and the maximum is equal to the amount they hold multiplied by two.

The increase will be successful if at least 1 mln new shares are subscribed and paid. The bourse code is R4LAND.

Investors who obtain the stock no later than 7 days after the date the announcement is published in the State Gazette will be entitled to receive shares from the capital increase.

The company controls a total of 18,011 decares of arable land, the average size of the parcels is 8.217 decares, and the average price – 183.58 leva per share.

The general meeting of shareholders approved gross dividend pay of 0.00436 per share on 2006 income.

1450 shares changed hands so far today on the BSE at 1.32 leve.