Bulgaria“s Drujba Glassworks has received approval from shareholders to raise its capital from BGL 6.689 million to BGL 53.5 million. The operation will involve the issue of new shares with a nominal…
Bulgaria“s Drujba Glassworks has received approval from shareholders to raise its capital from BGL 6.689 million to BGL 53.5 million. The operation will involve the issue of new shares with a nominal value of BGL 1. Each shareholder will be given seven new shares for each existing share held. The shareholders also gave the board of directors a mandate to further raise the capital of the company by up to BGL 200 million over the next five years and issue debt of up to BGL 200 million over the same period. The decisions taken at the meeting will be legally binding only if the company manages to overturn the refusal of the commercial register to announce the date of the meeting. Drujba Glassworks, owned by Greece“s Yioula Glassworks, posted a net profit of BGL 29.07 million in 2007. Sales rose 23.18% to BGL 197.34 million.