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.

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