Telematic Interactive Bulgaria to seek nod for share buyback

Telematic Interactive is seeking to buy back the shares at a price between 15 levs ($8.3/7.7 euro) and 20 levs each, it said in a stock exchange filing on Thursday.

The share repurchase programme, set to run until the end of 2026, will be carried out to reduce the company's capital. Sofia International Securities will act as investment intermediary on the transaction.

Telematic will also ask its shareholders to pay out a one-off gross dividend of 0.39 levs per share from its undistributed profit, or a total of 5.05 million levs.

The proposals will be put to the vote at an extraordinary general meeting of shareholders on March 11.

Telematic Interactive's equity capital is currently divided into 12.96 million voting shares of 1 lev in par value apiece.

As of 1200 CET on Friday, shares in the company traded 2.04% higher at 15.00 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)