Monbat Shareholders Approve Capital Increase and Dividend Distribution

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Monbat Shareholders Approve Capital Increase and Dividend Distribution

At a general meeting held today shareholders in Mobat Jsc adopted a decision to hike the company's capital from 19.5 mln to 39 mln leva (19.9 mln euros) via transformation of part of the 2007 income into capital, our correspondent reported.

The company will distribute 3.482 mln leva (1.7 mln euros) as dividend, which is 0.178 leva gross dividend per share.

A proposal for buying back of shares to up to 3% of the capital was also approved.

In March 2008 Monbat Jsc realized sales worth a total of 16.017 mln leva (8 mln euros), which is 81.92% up from the corresponding period a year ago.

Q1 revenues stand at 55.393 mln leva (28 mln euros). This is a hike of 114.05% compared with the previus year.

Profit in March amounted to 2.65 mln leva (1.35 mln euros), which is 145.59% up from March 2007.

Q1 profit this year is 205.74% up from the past year, at 10.065 mln leva (5 mln euros).

Shares have added 0.89% to 26 leva apiece so far on BSE.

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