Bulgaria’s Holding Roads To Pay 2.0 Mln Euro Bonus To Supervisory Board Chair

The company will also seek an approval from its extraordinary shareholders’ meeting scheduled for December 19 to pay a bonus of 100,000 levs to its management board chairman Orlin Hadjiyankov and another 60,000 levs to the management board deputy chairman Filip Stoyanov, it said in a statement.

Last year the company more than doubled its consolidated net profit to 15.9 million levs.

Holding Roads, part of the blue-chip SOFIX index of the Sofia bourse, is controlled by Bozhkov, who also has interests in gambling, insurance and foreign trade.

Shares in Holding Roads plummeted 30% to 4.90 levs on Tuesday with over 110,000 shares changing hands. The statement was issued after the close of bourse trading. The company started trading on Tuesday its new shares from a 70-for-1 bonus issue.

(1 euro = 1.95583 Bulgarian levs)