Emka Jsc Plans Two-Fold Capital Increase Using Own Funds

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Emka Jsc Plans Two-Fold Capital Increase Using Own Funds

At e general meeting held May 29 shareholders in Emka Jsc () approved a proposal to increase capital from 5 376 444 leva to 10 752 888 leva (i.e From 2.758 mln euros to 5.497 mln euros) using own funds.

The company will issue 5 376 444 paperless voting shares with a par value of 1 leva, x3news reported.

The new shares will be allocated among shareholders for free and in proportion to their interest in the capital prior to the increase. Investors holding the stock no later than 14 days after the date of the GM will be entitled to receiving new shares.

The procedures are now to be registered with Central Depository, the Financial Supervision Commission, The Commercial Register and the Bulgarian Stock Exchange.

Emka is a manufacturer of power cables, winding wires, PVC compounds for cable production etc.

The company intends to boost output by 11% this year and already has contracts for the placemnet of 100% of production.

The last transaction on the position on BSE was at 13 leva apiece.

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