Biovet Sells Its Cogeneration Gas Plant

At the forthcoming General Meeting of Shareholders June 15 a decision for authorization of the management bodies of the company for negotiations with potential buyers of the cogeneration gas plant owned by Biovet AD will be taken.

Biovet invested a total of 30 mln leva in the plant. Its capacity is 21 MWh and it produces electricity and steam for technological purposes.

In the end of 2004 the Government Commission for Energy Regulation issued a license for the plant’s operation and in April 2006 a license was also issued by the DNSK.

The decision for allocation of 2006 profit which amounts to 500 000 leva will also be voted at the General Meeting. The proposal is to set 10 per cent to the Reserves Fund and 90 per cent as other reserves.

The final date for trade with the shares of this company as a result of which the holder shall be entitled to exercise voting rights at the General Meeting is May 30, 2007.

During yesterday’s session 777 of the company’s shares changed hands at levels ranging between 17.60 and 18.00 per share.

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