At a meeting today The Financial Supervision Commission approved the Alpha Developments tender offer for the purchase of shares of Pirinhart AD Razlog via the intermediacy of Bulbrokers AD.

The offered price is BGN 4.35 a share or BGN 0.05 higher than what was offered so far.

Alpha Developments JSC- Sofia directly or through related parties owns 541 352 shares or about 82.11% of Pirinhart’s capital.

The subject of the tender offer are 117 983 and the authorised investment intermediary is Bulbrokers AD.

In the end of March following a decision of the District court of Blagoevgrad the company’s insolvency procedures were terminated.

The company reported a loss of BGN 342 000 for 2006 while in 2005 a profit of BGN 1.021 mln was reported. Today shares of the company were not traded, bids were at BGN 5.10 and asks at BGN 6.00.