SOFIA (Bulgaria), May 8 (SeeNews) – Bulgarian cables and conductors manufacturer Emka [BUL:57E] said it plans to purchase up to 3.0% of its equity capital.
The company plans to repurchase up to 223,000 shares in no more than five years, Emka said in a bourse filing last week.
The shares are to be repurchased at a mininimum price equal to the lowest price of the share in the last 52 weeks and a maximum price equal 95% of the highest price over the last year prior to the beginning of the buyback.
The proposal will be voted on at a general shareholders’ meeting, scheduled for May 14.
Emka's stock, a component of the broader BG40 index of the BSE, on Tuesday closed 0.27% up at 1.464 levs in a volume of 4,475 shares.
(1 euro = 1.95583 Bulgarian levs)