September 23 (SeeNews) - Bulgaria's Prime Property BG REIT [BUL:PPBG] said that it is seeking the approval of its shareholders to launch a share repurchase programme targeting up to 3% of its own equity capital.
The company will pay up to 0.70 levs ($0.42/0.36 euro) per share but no less than 0.50 levs per share in the buyback programme, the REIT said in an invitation for a shareholders meeting published earlier this week.
The programme will run for a period of up to one year. Prime Property BG REIT shareholders will vote on the proposal at a meeting scheduled for October 28.
According to commercial register data, the capital of Sofia-based Prime Property BG REIT amounts to some 35.7 million levs ($21.4 million/18.2 million euro) divided into 35,706,593 shares with a nominal value of 1 lev each.
(1 euro = 1.95583 levs)