Bulgaria's Telematic Interactive gets shareholders' nod for loan agreement

The decision was made at an extraordinary general meeting held on November 30, the company said in a bourse filing on Wednesday.

The planned loan agreement will have a term of five years and the amount will be provided in tranches. The last portion should be disbursed by June 30, 2023.

The loan will have an annual interest rate of 5.50%. Including the interest, the value of the deal reaches $331,500, the company said.

Telematic said in October that it is moving ahead with preparations for a potential listing on the Frankfurt Stock Exchange, a move which carries the potential for significant growth and expansion in the international market. Earlier in October, the company announced its entry to the Peruvian market.

Previously, Telematic also revealed plans to expand its activities in Italy, Mexico and Columbia.

The company reported in October a consolidated net profit of nearly 18 million levs ($9.6 million/9.2 million euro) for the first nine months of 2022, up from 14.4 million levs in the comparable period a year earlier.

As at CET 1020 on Thursday, shares in Telematic Interactive Bulgaria traded flat at 15.15 levs on the Bulgarian Stock Exchange.

($ = 0.9578 euro)