April 11 (SeeNews) - Bulgaria's Slantse Stara Zagora Tabac is considering the possibility of building a new plant for tobacco products, according to data from the company's invitation for an extraordinary shareholders meeting.
The company is seeking approval from its shareholders to acquire a land plot of between six and eight hectares for up to 12 million levs ($6.9 million/6.1 million euro), Slantse Stara Zagora Tabac said in an invitation for the meeting on Wednesday.
If the proposal is approved by the shareholders, Slantse Stara Zagora Tabac will have 18 months to acquire the land plot.
The proposal will be put to a vote on May 13.
Earlier this year, Slantse Stara Zagora Tabac said that it is planning to launch a capital increase, aimed at raising up to 17.82 million levs. The company will offer 1.65 million shares with a nominal value of 1 lev each for subscription at a price of 10.8 levs apiece.
Slantse Stara Zagora Tabac's registered capital currently amounts 1.18 million levs.
The company's shares last traded on the Bulgarian Stock Exchange at a price of 7.2 levs apiece.
Slantse Stara Zagora Tabac is majority-owned by local diversified group Sila Holding [BUL:6S5], which owned 67.85% of the company at the end of 2018.
(1 euro = 1.95583 levs)