Chimimport Management Board Able To Increase Capital To Up To 175 Mln Leva

Chimimport AD Sofia () is appointing a general meeting of shareholders 17 September 2007 in order to vote amendments to the company’s statute, which will allow the management board to increase the capital to up to 175 mln leva (89.476 mln euros) via the issuance of new common or privileged shares.

If shareholders approve the proposal, the company’s management board will be able to issue bonds, including convertible bonds, for a value of up to 100 mln euros, or its equivalent in other currency.

The draft decision on profit allocation is that dividends on 2006 income will not be paid, and that the profit will remain as undistributed financial result for 2007.

In case no quorum is present, the meeting is to be adjourned to 1 October, at 10.00h, at the same venue, and under the same agenda.

The final date for transacting the shares of the company as a result of which the holder will be entitled to a voting right at the upcoming GM is 30 August 2007.
We remind that in June the management board adopted a decision for capital increase from 130 mln leva (66.467 mln euros) to 150 mln leva (76.693 mln euros). The prospectus is to be filed with the Financial Supervision Commission shortly.

Main shareholder is Chimimport Invest AD controlling 64.26% of the capital.

The stock lost 1.02% today to 14.55 leva/share.

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