The hike is from the current 432,000 to 30.67 mln leva (15.681 mln euros), according to a corporate announcement posted on the company bulletin section on Profit.bg.
The company will issue 30.24 million news shares and each shareholder shall receive 70 new shares to each one they hold. Shareholders registered as such no later than 14 days after the GM date will be entitled to new shares.
Apart from funding the capital increase, a portion of 2007 profit will also be used to cover losses from previous periods (1.07 mln leva) and the rest will be added to Reserves (630,000 leva).
Shareholders will also vote a proposal to authorize the Management Board to sign deals in compliance with art. 114 of POSA in order to lease out the newly purchased asphalt mixer from Ammann Asphalt GmbH to subsidiary Vidapastroy EAD.
The stock added 0.63% today on BSE to close at 842.03 leva at a turnover of 198 shares.