More than 1 million shares of Petrol AD destrained

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On March 30 a bailiff levied a destraint on 1 125 000 shares from the capital of Petrol AD in the Central Depository, Lukoil Bulgaria said in a statement.

The stock is owned by Petrol Holding, majority shareholder of Petrol AD, and is traded on the Bulgarian Stock Exchange under code PET. The nominal of one share is 1 lev.

The measure was imposed due to an unrepaied debt of Petrol Holidng AD to the LUKOIL group of companies in Bulgaria amounting to 89.5 mln leva, subject of a lawsuit in Sofia City Court scheduled 11 May.

If Petrol Holding repays its debt within 7 days, the destrained shares will be sold on the stock exchange.

The funds gained from their sale will be used to repay the holding’s debt to Lukoil, represented by Lukoil Bulgaria.

Petrol AD shares dropped 3.87% today to an average level of 4.72 leva per share.

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