Neochim’s Shareholders to Vote Buy-Out at 30 - 40 Leva/Share

Neochim’s Shareholders to Vote Buy-Out at 30 - 40 Leva/Share

Neochim AD-Dimitrovgrad will hold a general shareholders’ meeting 8 June 2007 which is expected to vote a proposal to buy-out shares of the company at a minimum price of 30 leva/share and a maximum price of 40 leva/share, BSE announced.

Shareholders are also expected to vote a proposal to allocate the company’s 2006 profit to the “Additional Reserves” fund. Neochim registered a net profit of 3.577 mln leva last year versus 13.46 mln leva in 2005.

The maximum amount of shares in the buy-out should not exceed 3% of the company’s total issued shares, i.e. 79,630 shares. The buy-out (including the period for payment of the bought-out shares) should be completed up to 180 calendar days from the day after the announcement date.

If no quorum is present at the meeting when called, it shall be adjourned on 25 June 2007, 12:00 AM, same place, same agenda.

Ex-dividend date is 22 May 2007.

Only 3 shares of Neochim changed hands today at an average price of 44 leva/share.

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