bgELANA AgroCredit management decided to reduce the issue price in the forthcoming capital increase
ELANA Agrocredit
On 20 January 2015 the Board of Directors of ELANA AgroCredit decided to reduce the issue price of shares in the planned public offering which was decided at a meeting as of 20 June 2014.
The Financial Supervision Commission approved the prospectus for the public offering by its decision No. 797-Е as of 18.09.2014.
The issue price of shares will be reduced from BGN 1.05 to BGN 1.02.
The reason for the reduction comes from the forthcoming voting of an annual dividend of 6.23% per share at the Annual General Meeting of Shareholders on 23 February 2015.
By this dividend distribution the value of the company will go down which does not create fair conditions before current and potential investors in case the old issue price is preserved.
The brokerage ELANA Trading which manages the capital raise, has already prepared an addition to the approved prospectus, which is submitted to the Financial Supervision Committee.
When the document is approved, ELANA AgroCredit will announce the dates of the public offering.
