Yavor Jsc To Raise Capital 134 Times

Yavor Jsc To Raise Capital 134 Times

At its meeting today Varna-based Yavor Jsc's Board of Directors appointed a general meeting of shareholders August 20, BSE said.

The management will propose to use company reserves to cover losses from prior periods and to increase capital using own funds via issue of 14,967,421 common, paperless shares.

Yavor Jsc's () capital will be raised from 112,537 to 15,079,958 leva (7.71 mln euros). The new shares will be allocated among shareholders for free and in a 1:133 proportion to their interest in the capital prior to the hike.

The Varna-based company's 2007 profit stood at 17.234 mln leva (8.8 mln euros), which is mainly due to the sale of a property in mid-October at a price tag of 14.4 mln euros (VAT included) the company report said.

The last transaction on the position was made on June 23 at 80 leva.

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