Business | July 17, 2001, Tuesday // 00:00

The capital of Blagoevgrad-BT was not increased, as the announced agenda the shareholders` general meeting envisaged. Ivan Batsarov, representative of Bulgartabac Holding and chairman of the Directors` Board of the Blagoevgrad-based venture, put forward a counter-proposal the equity capital to be frozen to its current amount, as well as the terms on shares` issuing. Batsarov didn`t adduce motives for his proposal, eyewitnesses maintain. In line with the pending privatization the capital was to be increased from 2.7 million levs to over 100 million levs. Shareholders said, that the management has removed four resting centers from the assets of the venture and will sell them. The net profit in 2000 equals to 26.6 million levs and 30% of it will be distributed as dividends. Each share is assessed to 3 levs, while 18.6 million levs are placed on additional reserve. Bulgartabac Holding controls 85.24% of the Blagoevrgad-BT capital.

We need your support so can keep delivering news and information about Bulgaria! Thank you!

Business » Be a reporter: Write and send your article
Bulgaria news (Sofia News Agency - is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." (Sofia News Agency - and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria