December 20 (SeeNews) - Bulgaria’s Super Borovets Property Fund REIT [BUL:SBPF] said its shareholders approved a proposal to sell two of its wholly-owned subsidiaries - Rest and Fly and Balchik Lodzistik Park.
Super Borovets plans to sell Rest and Fly for no less than 10.5 million levs ($5.97 million/5.64 million euro), the company said in a bourse filing on Monday.
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Balchik Lodzistik Park should be sold for no less than its current market price, revised to reflect an appraisal following an in-kind contribution of a land plot in Balchik, on the Black Sea coast, the shareholders decided.
The company shareholders also voted to raise the capital of Balchik Lodzistik Park by increasing the nominal value of its shares.
As of 1327 CET on Tuesday, shares in Super Borovets Property Fund traded flat at 2.9 levs on the Bulgarian Stock Exchange.