EUROHOLD BULGARIA AD (42/2017) Eurohold's shareholders will vote for a capital hike and a bond issue

Podstawa prawna: Inne uregulowania
Eurohold's shareholders will vote for a capital hike and a bond issue

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    August 28 th 2017
    Eurohold 's shareholders will vote for a capital hike
    and a bond issue
    Euroins's shareholders will decide about delisting the company's shares on October 2
    Financial group Eurohold Bulgaria AD, one of the largest Bulgaria n public -listed
    companies, will hold an extraordinary meeting of its shareholders on October 2 nd, 2017,
    with reference to the management's plans for a capital hike and a bond issue with the
    aim to finance the company's operations on the middle term. Bulgar ian insurance
    company Euroins AD, part of Eurohold Bulgaria AD, will also hold an extraordinary
    meeting on October 2 nd, 2017 , in order to ask its shareholders to vote for delisting of
    the company's shares .
    According to the first proposal to its shareholde rs, Eurohold Bulgaria AD will seek to
    increase its capital by more than BGN 40 million to approximately BGN 202 million via
    the issuance of 40 336 250 shares with a nominal value of BGN 1 each and issued at a
    price of BGN 1.3 apiece . If all the shares are subscribed for and fully paid for the
    company will generate over BGN 52 million . Euro -Finance AD will be the investment
    intermediary of the emission . The capital increase will be considered successful if at
    least the half of the new shares (20 168 125) are subscribed for and fully paid for. In
    this case the company would generate a little over BGN 26 million. A prospect will be
    published in which there will be detailed information on how the generated proceeds
    will be used by the holding company .
    The secon d proposal to be approved by Eurohold's shareholders at the upcoming
    meeting is about a permission to issue up to EUR 100 million in bonds under the
    corporate Euro Medium Term Note Programme (EMTN ) approved by the Central Bank
    of Ireland in November 2016 . The EMTN programme allows the Bulgarian financial
    group to raise funds when it is necessary via the issuance of bonds listed on the Irish
    Stock Exchange. The holding company issued successfully the first tranche (EUR 40
    million) under the programme in Dece mber 2016. The nominal value of the planned
    new bond issue will be at the amount between EUR 40 million and EUR 100 million and
    will carry an interest rate of maximum 8% annually and a maturity of 5 years.
    Eurohold Bulgaria AD is one of the first Eastern European companies that launched
    EMTN Programme. Such a programme is a popular funding source for the corporate
    sector in the developed countries and allows bond issuers to enter foreign markets
    more easily to get capital. The EMTN programme provides the issuer with significant
    flexibility with reference to the terms of the bonds to be issued within the framework ,
    including the size of the bond issues, the interest rates, the maturity and etc.
    At the first half of August Euroins Insurance Group (EIG) , Eu rohold's insurance
    subholding, acquired almost 800 000 shares from minority shareholders of its Sofia -
    based subsidiary Euroins in a buyout bid priced at BGN 1.3. In this way the majority


    owner increased its share in the Bulgarian insurance company up to 95 % of the share
    capital. In relati on with this acquisition and the plans to delist the insurance company
    from the Bulgarian Stock Exchange (BSE) , Euroins 's management invite its
    shareholders at a general meeting to be held on October 2 nd in order to ask the m to
    vote for delisting of the shares. A new statute of Euroins will also be subject to a vo te at
    the extraordinary meeting.
    Eurohold Bulgaria AD
    Eurohold Bulgaria is a leading Bulgarian compan y, listed on the BSE -Sofia and the WSE. The holding
    company ope rates across CEE and SEE, focused on non -banking financial services and asset
    management. Eurohold Bulgaria is a majority shareholder of Euroins Insurance Group (EIG), one of
    the largest independent insurance groups operating in the CEE and SEE insurance m arkets . EIG
    operates in seven European countries and owns insurance subsidiaries in four of them –
    Bulgaria, Romania, FYROM and Ukraine. The insurance group has been operating in Greece
    since 2014. It has over 2 million clients, 1600 employees and annual r evenues of EUR 30 0
    www.eurohold.bg www .eig .bg

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Informacje o spółce
Nazwa:Eurohold Bulgaria AD
Adres: 43 Christopher Columbus Blvd. 1592 Sofia
Telefon:+359 2 9651653
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