St. Konstantin and Elena Holding To Authorize Board Of Directors to Increase Capital

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St. Konstantin and Elena Holding is appointing a general meeting of shareholders August 6, 2007 to vote a proposal to authorize the company's Board of Directors to increase capital. Authorization will be for a term of 5 years.

Executive director Tanya Parusheva told profit.bg that the company has to make amendments to its Statute for that reason.

Shareholders will also vote a proposal to set aside last year's profit to the Reserves Fund.

St. Konstantin and Elena Holding's audited profit for 2006 stands at 1.153 mln leva (589 519.53 euros), compared with 1.044 mln leva (533 788.7 euros) for 2005.

The company posted consolidated loss at 110,000 leva (56 242 euros) for 1Q, against a negative result at 357,000 leva (182 531 euros) for the respective period a year go.

Revenues in the period grew 51% to 3.6 mln leva (1 840 650.7 euros), against 2.39 mln leva (1 221 987.5 euros) last year. According to 1Q data, the company's core capital stands at 2.31 mln leva (1 181 084.2 euros) and its shared capital is in the amount of 20.12 mln leva (10 287 192.6 euros).

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