Sparky Eltos Increases Capital Sevenfold

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Sparky Eltos AD-Lovech will hold a general shareholders’ meeting 15 June 2007, which is expected to vote a proposal to increase the company’s capital from 2 mln leva to 14 mln leva by converting the company’s 2006 profit into capital reserves, BSE-Sofia announced.

Under the proposal 12 mln new registered paperless voting shares will be issued with a face value of 1 lev each. Thus each shareholder will receive 6 new shares for each old share he/she owns for free.

If no quorum is present at the meeting when called, it shall be adjourned on 30 June 2007, 11:30 AM, same place, same agenda.

Ex-dividend date is 31 May 2007.

Sparky-Eltos posted a net profit of 891,000 leva last year against 97,000 leva the previous year. Sparky Bulgaria controls 79.52% of the company’s capital.

Sparky-Eltos’ shares gained 6.72% today and were traded at an average level of 28.44 leva/share. At one point the stock reached a new historic high of 29 leva/share.

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