August 12 (SeeNews) - Bulgarian pawnshop chain operator Sofia Commerce-Pawn Brokerage [BUL:6SOB] said on Wednesday that it is planning to repurchase up to 3% of its own shares per calendar year in a programme which will run until July 2021, with the aim of subsequently decreasing its capital.
The company is seeking approval from its shareholders to carry out the repurchases, with the vote scheduled for August 20, Sofia Commerce-Pawn Brokerage said in a bourse filing.
Sofia Commerce-Pawn Brokerage intends to pay up to 9 levs ($5.42/4.60 euro) but no less than 5.50 levs for the repurchases.
The company currently holds 70,615 shares, or 2.98% of its own capital, which it repurchased during a share repurchase programme which ended on July 31.
Sofia Commerce-Pawn Brokerage ordinary shares 2.44% lower at 6 levs on the Bulgarian Stock Exchange on Wednesday, while its preferred shares ended 3.08% higher at 6.70 levs.
(1 euro = 1.95583 levs)