Moststroy Shareholders To Receive 4 New Shares For Free

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Moststroy Shareholders To Receive 4 New Shares For Free

Shareholders in Moststroy will receive 4 new shares for free, as the company's the general meeting decided earlier today to raise the company's capital from 1.115 mln leva to 5.575 mln leva (2.85 mln euros) using own funds, a Profit.bg reporter told us.

82.04% of shareholders were present at the meeting.

The company will issue 4.46 mln new shares and shareholders shall receive 4 new shares for free.

The company will use the 2007 profit (5.153 mln leva, 2.63 mln euros) to fund the increase. Moststroy will not pay dividend, the rest of the profit will be set to Reserves.

The general meeting also gave authorization to the company's Management Board to sign the additional contracts with subsidiaries Moststroy Sofia, Moststroy Plovdiv, Moststroy Veliko Tarnovo and Rels Remont. Those additional contracts will assign projects to the subsidiaries worth up to 30 mln leva.

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