The shareholders of Neochim ^NEOCH^ will discuss at a general meeting, scheduled for June 6, a proposal for the distribution of the company's profit for 2007. The proposal envisages a total of 929,000 leva (475,000 euos) of the company's 3.01 mln leva (1.53 mln euros) profit for 2007 to be distributed among shareholders, x3news reported.

The gross dividend per share to be paid by the company will stand at 0.35 leva (0.17 euros). The remaining profit should be allocated to the Reserves fund of the company, according to the proposal.

The shareholders will also decide on the repurchasing of shares of the company in 2008 and the setting of the terms of the procedure.

The proposal envisages that the maximum amount of shares to be repurchased should amount to up to 3% of the total number of the company's 79,630 shares.

The minimum and the maximum price for the repurchasing of shares is set at 50 and 70 leva apiece, respectively.

If there is a lack of quorum, the meeting will be held on June 23, 2008 at the same place under the same agenda.

Shareholders on record with the Central Depository as at May 23 will be entitled to exercise their voting rights at the meeting. The final date for sealing deals in Neochim's stock, which will enable shareholders to exercise their voting rights at the meeting, is set for May 21.

A total of 2,235 shares in Neochim changed hands on the Bulgarian Stock Exchange today. The stock depreciated by 0.04% to an average of 54.88 leva per share.