July 10 (SeeNews) - Bulgarian diversified group Synergon Holding [BUL:6S7] said that it is planning to skip dividend distribution for 2019 and cover its loss for the year, of 9.8 million levs ($5.7 million/5 million euro), from its reserves.
Shareholders in Synergon Holding will vote on the proposal at a meeting scheduled for August 11, the company said in a bourse filing on Thursday.
The company widened its net loss to 9.8 million levs in 2019 from 6 million levs in 2018.
Synergon Holding shares last traded on the Bulgarian Stock Exchange at a price of 0.825 levs.
Synergon Holding was set up in 1996 as a privatisation fund under Bulgaria's voucher privatisation programme. The fund was transformed into a holding structure the following year. It has more than 25 subsidiaries and affiliated companies operating in various sectors of the Bulgarian economy.
(1 euro = 1.95583 levs)