Bulgaria“s Drujba Glassworks said it will seek shareholder approval on 26 March 2008 for a proposal to raise its capital from BGL 6.689 million to BGL 53.516 million. The company, owned by Yioula Gla…
Bulgaria“s Drujba Glassworks said it will seek shareholder approval on 26 March 2008 for a proposal to raise its capital from BGL 6.689 million to BGL 53.516 million. The company, owned by Yioula Glassworks of Greece, plans to issue 46.826 million new shares with a nominal price of BGL 1. The shareholders will also vote to authorise management to further increase the capital of the company by up to BGL 200 million over a five-year period. Management will also have authority to issue up to BGL 200 million in debt. Drujba Glassworks posted a net profit of BGL 28.07 million in 2007, up 16.83% on the previous year. Sales were up 23.18% year-on-year to BGL 197.34 million.