Bulyard Shipbuilding Industry To Build 3 Ships Worth 88 Mln Euros For Navigation Maritime Bulgare EAD

Today, 16 August Bulyard Shipbuilding Industry AD signed a contract with Navigation Maritime Bulgare EAD () for the construction of three new ships, BSE reported.

Two of the ships will have a cargo-carrying capacity of 55,500 dwt and will cost 32.6 mln euros. The vessels will be delivered in 2011. The third ship will have a cargo-carrying capacity of 21,200 dwt, it will cost 23 mln euros and will be delivered in 2009.

Bulyard Shipbuilding Industry AD is a subsidiary of Bulyard AD, which is 61.50% controlled by Industrial Holding Bulgaria ().

As we already informed Industrial Holding Bulgaria is appointing a general meeting of shareholders 29 August, which is to vote a proposal for capital increase from 26.254 mln leva (13.423 mln euros) to 43.757 mln leva (22.372 mln euros).

Capital will be increased with the issuance of 17.503 mln new, common, paperless, voting shares with a face value of 1 lev and issue value of 2.40 leva.

Main shareholders are Venside Enterprise AD with 30.12%, DZH AD with 6.77%, and DPF Alliance Bulgaria AD with 5.57% of the capital.

Today, on the BSE, the company's shares are currently traded 1.69% up to 12.04 leva/share.

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