EMKA Seeks Shareholder Approval for a Two-Fold Capital Increase

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EMKA Seeks Shareholder Approval for a Two-Fold Capital Increase

()() has appointed a general meeting of shareholders on May 29, which is to discuss a proposal to add a share of the 2007 income (2.7 mln leva, 1.3 mln euros) to the company's capital and not to pay dividend, x3news reported.

If shareholders approve the proposal, capital will grow from 5.38 mln leva (2.7 mln euros) to 10.75 mln leva (5.49 mln euros). The company will also use reserves to boost capital.

The newly issued shares will be allocated to the shareholders in proportion to their interest in the capital prior to its increase.

Shareholders on June 11 will be entitled to receiving new shares.

Under the proposal, the rest of the 2007 income will remain as undistributed profit, after adding the required by regulations amount to the Reserves fund.

Shareholders in May 15 will be entitled to vote at the forthcoming general meeting. The final date for trade with the shares, as a result of which the holder will be entitled to voting rights, is May 13.

EMKA's stock is up 4.64% to an average of 13.08 leva at a turnover of 41,887 shares so far this morning.

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