Zlatni Piasatsi AD will sign a contract for the purchase of the two-storey building of Dionisos Restaurant from Zlatni AD. The building is on an area of 650 sq.m. and its total built-up area is 1 240 sq.m.
The market evaluation of similar buildings on similar locations within the holiday resort is 2 200 Euro per sq.m. The price offered is Eur 2.7 mln VAT not included. Companies have agreed on deferred payment, part of which will account for Zlatni AD’s unsettled debts.
Zlatni AD is seller of the second property as well. Its name is Krivata Lipa snack bar and its total built-up area is 123,70 sq.m. The market price of similar properties in the area is around 2000-2100 euros per sq.m. The price offered is 280 000 euro not including VAT.
Shareholders also approved the financing of Aquapolis Ltd via the signing of a contract for a credit in the amount of 100 000 leva. Aquapolis Ltd is founded with the participation of Zlatni AD and Zlatni Piasatsi AD (controlling 33% of the capital) with the aim of the building of an Aquapark complex on the territory of Zlatni Piasatsi holiday resort.
The credit is given in order to cover for exploitation costs in the preparation for season 2007 and in servicing debts for the period when the company is not realizing profits due to the seasonal character of tits business. The credit is for a period of 1 year with an 8 % annual interest.
The remaining issues on the agenda were not voted by shareholders since the documents on them were not prepared on time for the meeting.
Main shareholders in Zlatni piasatsi AD are Zlatni AD controlling 63.84 % and S-Travel holding 20.39 %.
So far 140 shares have been traded on this position at an average of 12.60 leva/share.