Eleven Companies To Raise Capital with Own Funding

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A total of eleven companies listed on the Bulgarian Stock Exchange (BSE) will raise their capital with own funding, a check up conducted by Profit.bg shows. These are: Druzhba Staklarski Zavodi, Emka, Euroterra Bulgaria, Technologies and Innovations Corporation Saedinenie (TIC Saedinenie), Monbat, Moststroy, Optela-Optical Technologies, Rozachim, Sparky, Unipack and Holding Roads.

Druzhba Staklarsi Zavodi's shareholders will put to vote today a proposal for the increase of the capital of the company with own funding from 6.69 mln leva (3.42 mln euros) to 53.52 mln leva (27.36 mln euros) through the issuing of 46.83 mln new shares. As a result, the shareholders will receive seven new shares for each existing share.

Emka's capital will be hiked from 5.38 mln leva (2.75 mln euros) to 10.75 mln leva (5.49 mln euros), if the shareholders back the proposal at a general meeting scheduled for May 29. Part of the company's profit for 2007, as well as part of the retained profit from previous will be converted into capital.

The shareholders of Euroterra Bulgaria will have to decide on a 13-fold capital increase at a general meeting scheduled for June 25. If the proposal is approved, the capital of the company will be hiked from 7 mln leva (3.58 mln euros) to 91 mln leva (46.52 mln euros). As a result the shareholders will receive 12 new shares for each existing share.

The capital of TIC Saedinenie will be raised from 3 mln leva (1.53 mln euros) to 12 mln leva (6.13 mln euros), it emerged last week. The shareholders in the company will receive three new shares for each existing share. The general shareholders' meeting is scheduled for May 27.

The decision for Monbat's capital increase with own funding will be taken on Friday at the general shareholders' meeting of the company. The shareholders will discuss a proposal for the two-fold increase of the issued capital of the company to 39 mln leva (19.94 mln euros). One new share will be issued for each existing share. The shareholders will also put to vote a proposal for the distribution of 3.48 mln leva (1.78 mln euros) as dividend.

Moststroy was one of the companies to reveal most recently its capital increase plans. The shareholders of Moststroy will put to vote on June 26 a proposal for the five-fold increase of the capital of the company, it emerged yesterday. The company will issue a total of 4.46 mln new shares, while the shareholders will receive four new shares for each existing share.

The shareholders of Optela-Optical Technologies will decide at a general meeting scheduled for June 26 on the increase of the capital of the company from 315,000 leva (161,000 euros) to 9.14 mln leva (4.67 mln euros), through the issuing of 8.82 mln new shares. The shareholders will receive 28 new shares for each existing share.

Rozachim's general shareholders' meeting will be held on June 12, 2008. The shareholders will discuss a proposal envisaging the increase of the capital of the company from 64,164 leva (32,800 euros) to 513,312 leva (262,450 euros). The company will issue a total of 112,287 new shares, each with 4 leva par value.

The capital of the company is allocated in 16,041 shares with 4 leva par value each at present. Shareholders will receive 7 new shares for each existing share if the proposal is backed.

Sparky also plans to raise its capital with own funding, it emerged yesterday. The capital of the company, which currently amounts to 3 mln leva will be hiked four-fold. The general shareholders' meeting of the company will be held on June 28.

Unipack will raise its capital with own funding for the second time in the last six months. The general shareholders' meeting of the company will be held on June 27. The shareholders will discuss a proposal for the increase f the capital of the company from 1.136 mln leva (580,800 euros) to 2.272 mln leva (1.16 mln euros) through the issuing of 1.136 mln new shares with 1 leva par value each.

Holding Roads plans to raise its capital from 432,000 leva (220,900 euros) to 30.67 mln leva (15.68 mln euros), the company said on Monday. The general meeting is scheduled for June 27, while the shareholders will receive 70 new shares for each existing share, if the proposal is backed.

Shareholders of record no later than 14 days after the general meetings of the companies will be able to take part in the capital raise operations.

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