Amendments to the company's statute and asset structure were adopted. Shareholders decided to increase the share of investment in stock issued by other investment companies or mutual funds by 10%, or to 30% of Capman Capital assets. The amendments will be in power after an approval from the Financial Supervision Commission is granted.
The general meeting also adopted the report on the company's activities in 2006 and approved exemption from liability of the Board of directors for their activities during the fiscal 2006. Shareholders also decided that 10% of the profit will go to the Reserves Fund and the rest will remain as undistributed profit.
Capman Capital's return on investment in 2006 was +50.59% on an annual basis. The management is expecting the net value of assets to reach 18 mln leva (9 203 253 euros) this year, or +92% compared to last year.
The fund's assets currently stand at 11.9 mln leva (6 084 373 euros) and year-to-date profitability is +21.16%.
Sibila Grozdanova is executive director. She was elected by the annual meeting of shareholders held 17 April 2006.
Capman Capital is part of Capman Financial Group, one of the leading financial icnstitutions on the Bulgarian capital market. The company has been offering a variety of investment products and services over the past 10 years.
Capman has recently introduced its newest product, which is in the field of additional financing of the clients of Capman Mutual Funds, in cooperation with General Leasing AD.