TIC Saedinenie To Hike Capital Four-fold

TIC Saedinenie To Hike Capital Four-fold

The shareholders of Technologies and Innovations Corporation Saedinenie (TIC Saedinenie) () will have to decide at a general meeting, scheduled for June 27, 2008, on the increase of the capital of the company with own funding.

The company plans to hike its capital from 3,000,008 leva (1,533,879 euros) to 12,000,032 leva (6,135,518 euros) allocated in 12,000,032 common shares.

Shareholders will receive three new shares for each existing share. The new shares will grant voting and dividend rights and will have 1 lev par value each..

If there is lack of quorum, the meeting will be held on July 14, 2008 at the same place under the same agenda.

The final date for sealing deals in TIC Saedinenie's stock, which will grant shareholders voting rights at the general meeting is set for June 11, 2008.

TIC Saedinenie raised its capital from 2,000,000 leva (1,022,583 euros) to 3,000,008 leva last year.

A total of 60% of the proceeds raised in the capital increase were earmarked for the implementation of financial projects at subsidiaries.

TIC Saedinenie's stock was last traded at a price of 3.41 leva (1.74 euros) per share on the Bulgarian Stock Exchange.

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