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Bulgaria's FSC bans Tchaikapharma shareholder vote on 7.6 mln euro property buy

Author Mario Tanev
Bulgaria's FSC bans Tchaikapharma shareholder vote on 7.6 mln euro property buy Author: Tchaikapharma / All rights reserved.

SOFIA (Bulgaria), December 6 (SeeNews) - Bulgarian drug maker Tchaikapharma High Quality Medicines [BUL:7TH] said on Friday that the Financial Supervision Commission has barred the company's shareholders from voting on a proposed 14.85 million levs ($8.4 million/7.6 million euro) property purchase.

According to the regulator, Tchaikapharma has not presented a report outlining the benefits for the company from the deal within the regulated time frame, the minutes from the company's shareholders meeting show.

Tchaikapharma is planning to acquire ten properties near Sofia from local drug wholesaler Commercial League - Global Pharma Center.

As at 13:15 CET on Friday, Tchaikapharma shares traded at 10.6 levs, unchanged from their previous closing price on the Bulgarian Stock Exchange.

Tchaikapharma's portfolio includes over 150 pharmaceutical products.

(1 euro = 1.95583 levs)

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