April 12 (SeeNews) - Energy and insurance group Eurohold Bulgaria [BUL:EUBG] said on Friday that it is asking its shareholders to endorse the issue of warrants that will allow holders to take part in future capital increases.
The company plans to offer for subscription up to 260.5 million freely transferable warrants at 0.50 levs ($0.27/0.26 euro) apiece, Eurohold Bulgaria said in a bourse filing.
Within ten years, investors would be able to exchange the securities for the same amount of voting shares in the company, priced at 2 levs apiece, as part of future capital increases.
The proposal will be put to the vote at an extraordinary general meeting of shareholders scheduled for May 30.
If approved, the offering will be considered successful if at least 78.15 million warrants are subscribed and paid for. Euro-Finance will act as investment intermediary on the transaction.
The company's equity capital is currently divided into 260.5 million shares with a par value of 1 lev apiece, commercial register data show.
As of 1352 CET on Friday, shares in Eurohold traded 0.76% higher at 1.33 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)