Formoplast AD increases capital through company assets up to 3.799 mln leva

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Proposal for a capital increase through company assets will be discussed and voted by the shareholders of Formoplast AD - Kardzhali. The company will decide to increase the share capital from 223 465 to 3 798 905 leva, by issuing 3 575 440 new common, registered, ordinary, paperless shares.

The proposal will be submited for discussion at the upcoming General meeting of the shareholders on October, 10th, 2007, BSE reports.

If the propoosal is approved, every stockholder will obtain 16 additional new shares ("bonus shares") for every existing one.

The deadline for making transactions with company's stocks is September, 24th, 2007, when the shareholder will be able to stand its right to vote at the General meeting of the shareholders.

Formoplast registered a loss 111 000 leva in H1,compared to the negative financial result (219 000 leva) a year ago. The company has a core capital of 223 000 and own capital of 6.295 mln leva.

Eurohold Bulgaria controls directly or through related parties 88.49% of the capital of Formoplast.There are bids on the position at 24.70 leva and asks at 19.50 leva/share.


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