SAF Magelan To Distribute 0.30 Leva Dividend Per Share

SAF Magelan Sofia is appointing a general meeting of shareholders 20 July to vote a proposal for dividend distribution of 0.30 leva per share, BSE reports.

Another 13,300 leva or 10% of the company's profit will go to the General Reserves Fund. The total amount of funds to be allocated for dividend distribution stands at 514 899 leva (formed as follows:119,700 leva from 2006 profit, 145,319 from retained profit from prior periods and 249 880 leva from the Additiovnal Reserves Fund).

In case no quorum is present the meeting shall be rescheduled to 6 August 2007, at 10.00h, same place, same agenda.

The final date for transacting the shares of the company as a result of which the holder will be able to exercise their voting right at the forthcoming general meeting is 4 July 2007.

It was announced Monday that the order for the purchase of an over 50% stake in SAF Magelan
has been suspended due to insider trading charges. The Financial Supervision Commission is investing the company's executive director and major shareholder on allegations of taking advantege of inside company information.

The company's stock dropped 12.59% yesterday to an average of 19.23 leva with 242 lots changing hands.

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