May 12 (SeeNews) - Bulgarian manufacturer of plastic crates and battery boxes Akumplast [BUL:AKUM] said on Friday that its shareholders dismissed proposals to establish a subsidiary in Tunisia and provide it with a loan of some 228,000 euro ($249,205).
The proposals were turned down at a general meeting of shareholders held on May 12, the company said in a bourse filing.
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Akumplast intended to name the unit Akumplast Industry and invest 380,000 euro into its planned registered capital of 500,000 euro, thus securing a 76% stake.
Akumplast, founded in 1985, specialises in manufacturing plastic battery boxes made from propylene, lids and accessories for lead-acid starter and traction batteries, along with plastic crates.
Shares in the company last traded at 153.00 levs on the BaSe market of the Bulgarian Stock Exchange, bourse data show.
($1 = 0.9149 euro)