Bulgaria's Vega plans to invest in renewables

Under the proposed change, the company's new set of activities will also include investing in financial assets and real estate for sale and rent, along with developing and operating industrial zones, Vega said in a bourse filing.

In addition, Pleven-based Vega plans to relocate its headquarters to Sofia and replace its board of directors by appointing three new members. The proposed changes will be put to the vote at an extraordinary general meeting of shareholders scheduled on February 23.

Vega is the legal successor of a company founded in 1968 for the production of shoes, clothing, leather and haberdashery, according to its website. It is currently active in the import, export, distribution, production, purchase and sale of goods in their original and processed form.

Shares in Vega last traded at 0.80 levs ($0.45/0.41 euro) on the BaSE market of the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)