Sever Holding Shareholders to Decide on a Five-Fold Capital Increase

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Sever Holding Shareholders to Decide on a Five-Fold Capital Increase

Shareholders in Sever Holding () will be voting a proposal for a five-fold capital increase at a general meeting scheduled June 16, x3news is reporting. Under the proposal the capital is to be increased from the current 780,660 leva to 3.9 mln leva (1.9 mln euros) via issue of 3.12 million new shares.

Shareholders are also to authorize the holding's directors to be take adopt decisions for further capital increases to up to 50 million leva. The authorization wil be in power for a term of three years.

In case no quorum is present at the meeting when called, it shall be rescheduled to July 21. Shareholders on June 2 will be able to vote at the GM. The final date for trade with the stock, as a result of which the holder will be entitled to voting rights at the forthcoming GM, is May 29.

Sever Holding stock was last traded on BSE on March 18 when 15 shares changed hands at an average of 1 lev.

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