Rozachim Seeks Shareholder Approval to Raise Capital

Rozachim Seeks Shareholder Approval to Raise Capital

The shareholders of Rozachim of Gorna Oryahovitsa will discuss at a general meeting, scheduled for June 12, 2008, the company's capital increase, the Bulgarian Stock Exchange (BSE) said.

The proposal envisages the capital to be raised from 64,164 leva (32,800 euros) to 513,312leva (262,450 euros) at the expense of the reserves and through the issuing of 112,287 new shares with 4 leva par value each.

The capital of the company is allocated in 16,041 shares with 4 leva par value each. The shareholders will receive seven new shares for each existing share, if the proposal is approved.

If there is lack of quorum, the meeting will be held on June 27, 2008 at the same place under the same agenda.

The final date for sealing deals in Rozachim's stock, which will allow shareholders to exercise their voting rights at the meeting is May 27, 2008.

Major shareholders in Rozachim include Emil Karabashki and Ivo Tsanev with 35.65% and 34.46% of the capital, respectively.

The company specializes in the production of essential oils, raw materials, dissolving agents and consumer goods.

Rozachim's stock was last traded on April 14 at a price of 150 leva per share.

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