Investors are expecting the General Meetings of Shareholders of Bulgarian River Shipping AD-Rousse, EMKA and Elhim Iskra which are scheduled this week.

Another thing that will attract investors’ attention this week is the floating of the emission of Kaolin AD as well as the results from last week’s First Investment Bank IPO.

Today shareholders in Bulgarian River Shipping AD are voting the proposal for a capital increase from the current 1.158 mln leva to 28.959 mln leva through the issuance of 27.8 mln shares with a face value of 1 lev using company’s own funds. Thus each shareholder shall receive 24 shares for free.

May 22 (Tuesday) is the date scheduled for the General Meeting of Shareholders of EMKA AD which will vote a proposal for a capital increase from 1.792 mln leva to 5.376 mln leva.

The capital will be increased using company’s own funds and more specifically through reserves and part of the retained profit from prior periods and 2006. The new shares will be allocated among shareholders in proportion to their interest in the capital prior to its increase.

Today, May 21, is the final date for transacting shares of Orgachim and Neochim as a result of which the holder will be able to exercise their voting rights at the forthcoming General Meetings of the companies.

Shareholders in Orgachim, the Rousse based manufacturer of paints and lacquers, will vote the decision to allocate 2006 profit which is in the amount of 8.095 mln leva to the company’s Reserves Fund. Meanwhile shareholders in Neochim will vote the proposal for redemption of shares at a minimum price of 30 leva and maximum price at 40 leva.

Tuesday is the last date for transaction shares of Petrol AD as a result of which the holder will be able to exercise their voting right at the forthcoming general meeting of the company.
Shareholders will vote the proposal to distribute 50% of last year’s profit or a total of 8.426 mln leva as dividend.

On Tuesday a general meeting of Elhim Iskra will vote the decision for capital increase from 836 947 leva to 12 554 205 leva through the issuance of 11 717 258 common, dematerialized, registered, voting shares.

As a result each shareholder will be able to receive 14 free shares for each 1 owned by him.

On May 23, shareholders in Doverie United Holding will vote the decision to replace Oleg Stoyanov, Ilia Iliev and Andrey Georgiev with Radosvet Radev, Ognyan Donev and Ventsislav Stoev in the company’ s Supervisory Board.

Another issue on the agenda of the General Meeting is to vote allocation of 2006 profit as well as an increase of the company’s investment reserves. According to the draft decision undistributed profit for 2006 which was formed after tax corrections and is in the amount of 6355.66 leva shall cover the loss of 6894.05 leva which formed in prior periods due to the same reason.

Shareholders will also vote the decision not to allocate 2006 profit but to use 538.39 levaform it to cover the remaining part of the loss after tax corrections and to use the other 86 818 leva to increase investment reserves.

Last week BG40 added 10.33% to reach 275.87 points while SOFIX gained 3.28% to 1297.08 points.


This Week: General Meetings of Shareholders of Bulgarian River Shipping AD, EMKA and Elhiom Iskra



Investors are expecting the General Meetings of Shareholders of Bulgarian River Shipping AD-Rousse, EMKA and Elhim Iskra which are scheduled this week.

Another thing that will attract investors’ attention this week is the floating of the emission of Kaolin AD as well as the results from last week’s First Investment Bank IPO.

Today shareholders in Bulgarian River Shipping AD are voting the proposal for a capital increase from the current 1.158 mln leva to 28.959 mln leva through the issuance of 27.8 mln shares with a face value of 1 lev using company’s own funds. Thus each shareholder shall receive 24 shares for free.

May 22 (Tuesday) is the date scheduled for the General Meeting of Shareholders of EMKA AD which will vote a proposal for a capital increase from 1.792 mln leva to 5.376 mln leva.

The capital will be increased using company’s own funds and more specifically through reserves and part of the retained profit from prior periods and 2006. The new shares will be allocated among shareholders in proportion to their interest in the capital prior to its increase.

Today, May 21, is the final date for transacting shares of Orgachim and Neochim as a result of which the holder will be able to exercise their voting rights at the forthcoming General Meetings of the companies.

Shareholders in the Rousse based manufacturer of paints and lacquers Orgachim will vote the decision to allocate 2006 profit which is in the amount of 8.095 mln leva to the company’s Reserves Fund. Meanwhile shareholders in Neochim will vote the proposal for redemption of shares at a minimum price of 30 leva and maximum price at 40 leva.

Tuesday is the last date for transaction shares of Petrol AD as a result of which the holder will be able to exercise their voting right at the forthcoming general meeting of the company.
Shareholders will vote the proposal to distribute 50% of last year’s profit or a total of 8.426 mln leva as dividend.

On Tuesday a general meeting of Elhim Iskra will vote the decision for capital increase from 836 947 leva to 12 554 205 leva through the issuance of 11 717 258 common, dematerialized, registered, voting shares.

As a result each shareholder will be able to receive 14 free shares for each 1 owned by him.

On May 23, shareholders in Doverie United Holding will vote the decision to replace Oleg Stoyanov, Ilia Iliev and Andrey Georgiev with Radosvet Radev, Ognyan Donev and Ventsislav Stoev in the company’ s Supervisory Board.

Another issue on the agenda of the General Meeting is to vote allocation of 2006 profit as well as an increase of the company’s investment reserves. According to the draft decision undistributed profit for 2006 which was formed after tax corrections and is in the amount of 6355.66 leva shall cover the loss of 6894.05 leva which formed in prior periods due to the same reason.

Shareholders will also vote the decision not to allocate 2006 profit but to use 538.39 levaform it to cover the remaining part of the loss after tax corrections and to use the other 86 818 leva to increase investment reserves.

Last week BG40 added 10.33% to reach 275.87 points while SOFIX gained 3.28% to 1297.08 points.