Optelа Shareholders to Decide on 29-Fold Capital Increase

Optelа Shareholders to Decide on 29-Fold Capital Increase

The shareholders of Optela-Optical Technologies () will decide at a general meeting scheduled for June 26 on the increase of the capital of the company from 315,000 leva (161,000 еурос) to 9.14 mln leva (4.67 mln euros) through the issuing of 8.82 mln new shares, the Bulgarian Stock Exchange (BSE) said.

The capital raise will be carried out through the conversion of part of the company's profit for 2007 into capital. A total of 28 new shares will be distributed against each existing share.

The shareholders will also put to vote a proposal envisaging 309,000 leva (158,000 euros) ) of Optela's profit for 2007 to be allocated to the Reserves find.

The shareholders will also decide on changing the name of the company from Optela-Optical Technolgies to Optela-Laser Technolgies.

Shareholders on record with the Central Depository as at June 12 will be allowed to exercise their voting rights at the general meeting. The final date for sealing deals in Optela, which will enable the shareholders to exercise their voting rights is set for June 10.

The stock of the company appreciated by 3.42% to an average of 11.5 leva per share today.

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