KBC Group agrees to acquire remaining stake in Bulgarian insurer Belgium's KBC Group said it has agreed to acquire MetLife's 40% stake in Bulgaria-registered life insurance joint venture UBB-MetLife Life Insurance Company, thus becoming a full owner of the company. "The financial impact of this deal is immaterial to either KBC or MetLife. The deal is still subject to regulatory approval and is expected to close in the second quarter of 2018," KBC said in a statement late on Friday. In June, as part of KBC’s acquisition of UBB and Interlease, KBC acquired 60% of UBB-MetLife Life Insurance Company. The life insurance products of the company are exclusively distributed via UBB’s bank branches. UBB-MetLife Life Insurance Company has a 10% market share in the Bulgarian life insurance market. In Bulgaria, KBC also controls insurance company DZI. "Once the deal is closed, KBC, through DZI, will service the insurance policies of the existing UBB-MetLife customers until maturity of their policies. Following this transaction, KBC will be able to distribute DZI life and non-life insurance products through UBB’s bank branches and, in this way, fully roll out its bank-insurance approach in the Bulgarian market, one of KBC’s core markets," the group said. Combined, DZI and UBB-MetLife Life Insurance Company will have a market share of 21% in the Bulgarian life insurance market.
Source: 24 chasa (03.01.2018)

The Governing Council of the Bulgarian National Bank decided to issue a preliminary approval for the purchase of 67.6% of the Municipal Bank by the Liechtenstein-based Novito Opportunities Fund AGmvK. The subject of the transaction are 3 880 388 dematerialized shares representing 67.646407% of the subscribed share capital, amounting to BGN 57 362 810, which are owned by the Sofia Municipality. The deal has already been approved by the municipal councilors and by the Commission for Protection of Competition. According to the data gathered by the Central bank, the Bulgarian producer and trader of fuel Insa Oil owns non-voting shares in the bidder-buyer Novito. The Fund is warned that the conversion of these shares into voting shares will require a new permit from the BNB. All shares of the applicant's capital are owned by KAIAC Fund Management AG, a company incorporated under the legislation of Liechtenstein, representing an alternative investment fund licensed and overseen by the Liechtenstein Financial Markets Authority. Insa Oil was founded in 2001 and deals with the production and marketing of petroleum products in Bulgaria, Romania, Greece, Serbia and Kosovo.
Source: Sega (12.01.2018)

The Governing Council of the Central Bank decided to authorize the transformation of CIBANK EAD by merging in United Bulgarian Bank AD (UBB) under the procedure of Art. 262 of the Commercial Law. The BNB issued the permission under the terms and conditions that UBB will acquire all the assets of CIBANK EAD and will ensure compliance with the supervisory requirements established in the applicable regulatory framework to protect the interests of depositors and other creditors of the banks involved in the transformation. Once the BNB has authorized the merger and it is entered in the Commercial Register at the Registry Agency, there will be only one legal entity - United Bulgarian Bank AD.
Source: Banker (12.01.2018)

Eurobank will maintain its operations in Bulgaria, Serbia and Cyprus The Greek Eurobank, owner of Postbank in Bulgaria, will maintain its operations in Bulgaria, Serbia and Cyprus after withdrawing from Romania. This was stated by Deputy Chief Executive Officer Stavros Ioanou. Expectations are that subsidiaries of the group in these countries will double their profitability over the next few years. The three largest Greek banks - NBG, Piraeus Bank, Eurobank - are selling their businesses in the region, implementing the restructuring plan imposed on them by the EU. NBG sold its bank in Bulgaria UBB to Belgian group KBC in 2017, and Piraeus still has not provided formal information on what stage the processes are at. At the end of last year, the Greek Piraeus finalized the deal for its division in Romania. Greece's third-largest bank, Eurobank, has signed a deal in November to sell its Romanian bank Bancpost to Transylvania Bank, the second-largest bank there.
Source: Capital (17.01.2018)

Bulgaria's DZI Life Insurance seeks nod to fully acquire peer UBB-MetLife Bulgaria-based DZI Life Insurance, owned by Belgium's KBC Group, is seeking the approval of the competition authority to acquire full ownership of Sofia-based UBB-MetLife Life Insurance Company, a notice posted on the website of the regulator reads. As Belgium's KBC Group is already majority owner of UBB-MetLife Life Insurance Company, the deal will not affect competition on the local insurance market, according to the notice posted on the website of the Commission for Protection of Competition on Friday. Last week, DZI Life Insurance received approval from the Financial Supervision Commission (FSC) to acquire full ownership of UBB-MetLife Life Insurance Company. In December, KBC Group said it agreed to acquire MetLife's 40% stake in their Bulgaria-registered life insurance joint venture UBB-MetLife Life Insurance Company, thus achieving full ownership of the company. In June, as part of KBC’s acquisition of Bulgaria's United Bulgarian Bank (UBB) and Interlease, KBC acquired 60% of UBB-MetLife Life Insurance Company. The life insurance products of the company are exclusively distributed via UBB's branches. UBB-MetLife Life Insurance Company has a share of 10% of the Bulgarian life insurance market, according to FSC data. Combined, DZI and UBB-MetLife Life Insurance Company will have a market share of 21% of the Bulgarian life insurance market.
Source: Capital (23.01.2018)

KBC-owned Bulgarian lenders UBB, CIBANK finalize merger Bulgaria’s United Bulgarian Bank (UBB), majority owned by Belgium's KBC Group, on Tuesday announced the merger of CIBANK, a wholly-owned Bulgarian subsidiary of the KBC Group, into UBB has been finalized. The reorganization of CIBANK through merger into UBB has been officially entered into Bulgaria's Commercial Register following the receipt of the needed permit from Bulgaria's central bank on Monday, UBB said in a statement. "From this date onwards, all rights and obligations of CIBANK have been transferred to United Bulgarian Bank [...] by which the process of CIBANK’s merger into UBB has been finalized." As a result of the merger the clients of CIBANK become clients of UBB, the bank added. After the merger, UBB becomes one of the largest banks in Bulgaria, with assets exceeding 11 billion levs, the bank noted. According to the latest data available from the Bulgaria's central bank, the merger will create the third largest bank by assets in the country after UniCredit Bulbank and DSK Bank. The newly formed bank is focused on servicing individuals and small and medium-sized enterprises (SMEs), UBB said. CIBANK and UBB are expected to fully complete merging their banking processes by the end of 2018, the CEO of both banks and country manager for KBC, Petar Andronov, told SeeNews in November. In October, the two Bulgarian lenders signed an agreement under which UBB will absorb CIBANK. Under the terms of the agreement, CIBANK shares will be converted into shares in UBB at a ratio of 1:0.78419, CIBANK said in a filing to the country’s commercial register at the time. In 2007, KBC Group acquired 75% of CIBANK, and in 2010 increased its shareholding interest to 100%. In June 2017, KBC Group completed the acquisition of UBB and leasing company Interlease from National Bank of Greece for a total consideration of 610 million euro. After the merger of CIBANK into UBB, twenty-one banks and five branches of foreign banks operate in Bulgaria.
Source: Capital (07.02.2018)

Bulgaria's DZI Life Insurance gets regulatory nod to acquire UBB-MetLife Life Insurance Bulgaria's competition regulator said it has given approval to DZI Life Insurance owned by Belgium's KBC Group to acquire full ownership of Sofia-based UBB-MetLife Life Insurance Company. Following the acquisition, the combined market share of UBB-MetLife Life Insurance Company and DZI Life Insurance in terms of total premiums will be 21.6%, the competition regulator said in a statement on Friday. The acquisition will not lead to the establishment of a dominant position on the market where Allianz Bulgaria Life will remain leader with a market share of 26.3%, the regulator said. In January, DZI Life Insurance received approval from the Financial Supervision Commission (FSC) to acquire full ownership of UBB-MetLife Life Insurance Company. In December, KBC Group said it agreed to acquire MetLife's 40% stake in their Bulgaria-registered life insurance joint venture UBB-MetLife Life Insurance Company, thus achieving full ownership of the company. In June, as part of the acquisition of Bulgaria's United Bulgarian Bank (UBB) and Interlease by KBC, the Belgian group acquired 60% of UBB-MetLife Life Insurance Company. The life insurance products of the company are exclusively distributed via UBB's branches.
Source: money.bg (13.03.2018)

Bulgaria's competition regulator has given approval to DZI Life Insurance owned by Belgium's KBC Group to acquire full ownership of Sofia-based UBB-MetLife Life Insurance Company. Following the acquisition, the combined market share of UBB-MetLife Life Insurance Company and DZI Life Insurance in terms of total premiums will be 21.6%. The acquisition will not lead to the establishment of a dominant position on the market where Allianz Bulgaria Life will remain leader with a market share of 26.3%. In January, DZI Life Insurance received approval from the Financial Supervision Commission (FSC) to acquire full ownership of UBB-MetLife Life Insurance Company. In December, KBC Group said it agreed to acquire MetLife's 40% stake in their Bulgaria-registered life insurance joint venture UBB-MetLife Life Insurance Company, thus achieving full ownership of the company. In June, as part of the acquisition of Bulgaria's United Bulgarian Bank (UBB) and Interlease by KBC, the Belgian group acquired 60% of UBB-MetLife Life Insurance Company. The life insurance products of the company are exclusively distributed via UBB's branches.
Source: Standart (14.03.2018)

Sociate Generale is Leaving Bulgaria The French Societe Generale Banking Group is withdrawing from all countries in Central and Eastern Europe and is also selling its business in Bulgaria - Societe Generale Expressbank, Capital reported. According to sources, Hungary's OTP Bank, which owns DSK Bank, is conducting a survey of the French institution. The initial plan was for direct negotiation between the two, but according to two sources of Capital, another interest appeared - at the end of February an indicative offer for the package was filed by a fund of the American affiliate Apollo Global Management. But at least at this stage the price offered is low. Apollo also said they would not comment. In recent years, the fund has been actively overseeing the region, and in Bulgaria it has been among candidates for UBB, it is believed to have wanted to buy both Fibank and Piraeus Bank. The bank in Bulgaria is sold in a package with five other divisions of the French group - in Albania, Macedonia, Montenegro, Serbia and Moldova. All of them are well-run and profitable, but they also suffer from similar shortcomings - small markets where the formerly enticingly high profitability is melting and the environment is saturated and at the same time unstable from a political and regulatory point of view. Therefore, came Societe Generale's decision to withdraw from the Eastern European region from the non-strategic markets where it is not in the top 3 of market share.
Source: Dnevnik (02.04.2018)

Bulgarian banks' net profit falls in Q1 The combined net profit of the banks operating in Bulgaria edged down to 267.2 million levs ($164.9 million/136.6 million euro) in the first three months of 2018, from 287.6 million levs in the same period a year earlier, the country's central bank said on Monday. Net interest income decreased to 720.8 million levs from 774.0 million levs at end March 2017, while fee and commission income grew to 281.7 million levs from 264.9 million levs, the Bulgarian National Bank (BNB) said in a regular report on the performance of the country's banks. The banking sector's net operating revenue fell to 852.2 million levs at end-March, from 875.3 million levs in the same period of 2017. The banks' total assets increased to 97.57 billion levs at the end of March, from 92.9 billion levs a year earlier. Twenty-two banks and five branches of foreign banks operated in Bulgaria as at end-March, according to BNB data.
Source: Capital (02.05.2018)

Bulgarian banks are among the candidates for Piraeus Five binding bids have been submitted for the aquisition of Piraeus Bank, the Bulgarian division of the Greek Piraeus Bank. Three Bulgarian banks, one venture capital fund and the Greek Eurobank (owner of Postbank) have reached the final stage. The sale of the ninth largest bank in Bulgaria has been prepared for months. At the end of March, it was announced that the deal for the bank was at an advanced stage. Indicative offers were submitted by Hungary's OTP Bank (owner of DSK Bank in Bulgaria and considered the main candidate for Societe Generale Expressbank) and the global investment fund Apollo at the end of last year. Discreet comments then in the banking sector indicated that Piraeus's likely purchaser was Postbank. After the sale, Piraeus Bank will be the third bank with Greek owners that would have changed its owner within 3 years - after the acquired branch of Alpha Bank and UBB, which was bought by the Belgian KBC Banking Insurance Group and merged with Cibank.
Source: Dnevnik (13.06.2018)

Bulgaria's UBB, DZI acquire office building of Sofia's Millennium Centre United Bulgarian Bank (UBB) and Bulgarian insurer DZI, both part of Belgium's KBC Group, have acquired the office building of Millennium Centre, a mixed-use high rise in central Sofia, UBB said. "We are delighted to find such a modern, comfortable and convenient office space. Our new headquarters will allow us to better develop the relationships between teams, to improve operational and business efficiency, and to strengthen our relations with our customers," Peter Andronov, CEO of UBB and chairman of KBC Group country team for Bulgaria said in a statement on Wednesday. UBB and DZI acquired the office building from local construction company NIKMI. The value of the deal was not disclosed in the statement. According to local media outlet Capital.bg, the transaction is valued at 108 million levs ($63.7 million/55.2 million euro). UBB and DZI moved their headquarters into the office building last year. Its name is UBB Millennium Centre. Millennium Centre has a total office space of 25,000 sq m. The complex also includes a hotel, a residential building, congress centre, spa centre and retail space.
Source: Dnevnik (28.06.2018)

MBL: Investment in offices is at a record level since early 2018 Investment in office space reached a record volume of EUR 260 million in the first six months of the year, the highest activity in the segment for the past 11 years. This was stated in a report for the last quarter by MBL consultants. After a record 2017 for shopping malls, some of the biggest business buildings have changed their owners this year. Three of the emblematic office deals during the period are for Megapark, the office building of Millennium Center and Sofia Tower, according to MBL. A few days ago United Bulgarian Bank (UBB) and the insurance company DZI, part of the Belgian group KBC, bought the tall building from the Millennium Complex of NIKMI for BGN 108 million. A month ago, the newly established Lion's Head, a joint venture between the Old Mutual Group in South Africa and the Bulgarian AG Capital, became the owner of the Megapark complex valued at EUR 90-100 million. At the end of April, the Polish GTC bought Mall of Sofia for EUR 90 million and 10,300 sq. m. office areas of the Sofia Tower building. According to MBL estimates, in the second quarter of the year the acquired offices were worth more than BGN 150 million. Based on the concluded deals in the last months, the return on investment in Class A offices remained around 8%. According to Nikolay Neov, Office Manager at MBL, the demand for new office space for rent remains strong, despite the fact that the total newly rented areas in the second quarter are just over 15,000 sq. m. According to the company's data, 40,000 sq. m. of new offices have received a permit for use in the second quarter, bringing the total volume of existing areas to 1.92 million sq. m. Currently, 370 thousand sq. m. are being constructed in the capital, and nearly two thirds of them will be completed by the end of 2019.
Source: Capital (02.07.2018)

Belgium's KBC Asset Management NV, a unit of KBC Bank, intends to set up a branch in Bulgaria, the Financial Supervision Commission (FSC) said. FSC has sent a notification to Belgium's Financial Services and Markets Authority about the company's intentions. KBC Group acquired Bulgaria’s United Bulgarian Bank (UBB) and leasing company Interlease from National Bank of Greece for a total consideration of EUR 610 million last year.
Source: Banker (09.07.2018)

Agroenergy Invest REIT-Sofia (6A7) The General Meeting of Shareholders of Agroenergy Invest REIT dated 29 June 2018 has taken the following dividend distribution decision for year 2017: - Gross dividend per share: BGN 0.0477 - Dividend payout starting date: 03 August 2018 - Dividends will be paid out through the system of the Central Depository and via CB United Bulgarian Bank AD. The right to a dividend will be entitled to all shareholders registered with the Central Depository on the 14th day following the GMS date i.e. by 13 July 2018 (Record Date). The final date for transacting shares of this company on BSE-Sofia, as a result of which the holder will be entitled to receive a dividend, has been 11 July 2018 (i.e. Ex Dividend Date: 12 July 2018).
Source: BSE (18.07.2018)

Agro Finance REIT-Plovdiv (6AG) With reference to a dividend distribution decision taken by the regular GMS of Agro Finance REIT on 29 June 2018, the company has changed the dividend payout starting date as follows: - Gross dividend per share: BGN 0.178 - Dividend payout starting date: 13 August 2018 - Dividend payout final date: 31 December 2018 - Dividends will be paid out through the system of the Central Depository and via the branches of CB United Bulgarian Bank AD. The right to a dividend will be entitled to all shareholders registered with the Central Depository on the 14th day following the GMS date i.e. by 13 July 2018 (Record Date). The final date for transacting shares of this company on the BSE, as a result of which the holder will be entitled to receive a dividend, has been 11 July 2018 (i.e. Ex Dividend Date: 12 July 2018).
Source: BSE (02.08.2018)

Societe Generale Close to Sale of Bulgarian Bank to Hungary's OTP French bank Societe Generale (SOGN.PA) is in final talks to sell its Bulgarian unit to Hungary’s OTP Bank OTPB.BU and is likely to announce the deal this month, two sources familiar with the process said. The French lender is also expected to offload its unit in Albania to OTP, the sources said, as part of its strategy to dispose of units that either lack critical size or potential for synergies within the group. European banks are restructuring their assets as they seek to strengthen in markets where they see potential growth, while withdrawing from markets deemed too small to compete. SocGen is also exploring the sale of its Polish unit Eurobank, investment bankers said last month, and on Monday the French bank announced the sale of its private banking unit in Belgium to ABN AMRO (ABNd.AS). “The deal (in Bulgaria) has been largely agreed. The central bank has already held a preliminary meeting with DSK Bank (OTP’s Bulgarian unit) over it,” one source said. Societe Generale Expressbank is Bulgaria’s seventh largest bank with assets of 6.7 billion levs ($4 billion) as of June, central bank data showed. In March, Bulgarian financial weekly Capital, citing unnamed sources, said that Societe Generale also planned to exit the markets in Serbia, Macedonia, Moldova and Montenegro and was holding talks with OTP and private equity firm Apollo Global Management. Apollo has declined to comment. Since then, the sale of the SocGen’s Montenegro unit has been put off for the time being, mainly due to political issues, two sources familiar with the talks said. The sources declined to comment on the value of the deal in Bulgaria, but one said it was likely to be in line with the sale of National Bank of Greece’s Bulgarian unit to Belgium’s KBC Group last year, which equalled 1.1 times the unit’s total equity. Expressbank’s total equity stood at 723 million levs at the end of June, central bank data showed. OTP controls Bulgaria’s second largest lender, DSK Bank, and the deal, pending regulatory approvals, is likely to boost its market share in terms of assets to about 19 percent, close or even above that of top Bulgarian lender Unicredit Bulbank. Reporting by Tsvetelia Tsolova, additional reporting by Marton Dunai in Budapest and Inti Landauro in Paris and Benet Koleka in Tirana; Editing by Jason Neely and Susan Fenton
Source: Dnevnik (02.08.2018)

HypoCredit AD-Sofia (9RTE) BSE has received a report under Art. 100g (1), item 3 of the POSA as at 30 June 2018 from CB United Bulgarian Bank AD in the latter's capacity of a trustee of the bondholders of HypoCredit AD-Sofia (9RTE), ISIN BG2100018089.
Source: BSE (17.08.2018)

Unicredit Bulbank sells the largest ever bad credit portfolio to B2Holding Nine months after the biggest deal for the portfolio of non-performing loans for BGN 460 million to United Bulgarian Bank (UBB), the tender for EUR 250 million of bad loans by Unicredit Bulbank has been completed. That is not all, however, because Postbank has launched the procedure for selling EUR 365 million of bad loans with the intention of releasing them until the end of the year. Thus, 2018 appears to be a significant one, breaking the record three times, exceeding forecasts of EUR 1 billion in credits sold, and boosting top players' positions in debt collection. Prepared for several months, the deal for bad credit portfolio with EUR 250 million by Unicredit Bulbank has been finalized, with buyer being the Norwegian B2Holding, which last year managed to win the other two of the bank’s auctions - they amounted to EUR 93 million and EUR 84 million respectively. The new portion of debt consists mainly of corporate secured loans of around EUR 150 million and unsecured loans to individuals. B2Holding on a consolidated basis reported EUR 37 million in operating profit for the second quarter and provided an investment resource of EUR 220 million on the 23 markets it operates on. The Southeastern Europe market, where Bulgaria, Romania, Greece and Cyprus has contributed nearly EUR 14 million to the group at the end of the second quarter. The Bulgarian subsidiary is the regional asset market leader.
Source: Capital (28.09.2018)

The ECB will inspect six Bulgarian banks The European Central Bank (ECB) chose to inspect six of the largest banks in Bulgaria in connection with Bulgaria's application for membership in the EU Banking Union. The list of the three largest lenders - UniCredit Bulbank, DSK Bank and UBB, as well as First Investment Bank (FIB) will most likely enter the list. The auditors of the Restructuring Fund are expected to arrive in Bulgaria on November 10th. The Cabinet filed an official application for membership in the Banking Union on July 18th, after the government took six commitments as a condition for Bulgaria to be accepted in the ERMII "waiting room" in a letter to the EU institutions from June 29th, one of which was the entry in the Banking Union. Sofia received a political promise from Brussels to enter the ERMII and the Banking Union on the same day. According to Bulgaria's own timetable, this should be done by July 2019. The other conditions Bulgaria has committed to, are to strengthen macro-prudential supervision, control of the non-banking financial sector (especially insurance), money laundering fight, management of state-owned enterprises and the settlement of insolvency problems. In pursuit of the goal, Bulgarian government approved an action plan for joining the Banking Union and ERMII in August this year, which the Ministry of Finance confirmed that it continues to implement last month.
Source: mediapool.bg (11.10.2018)

Postbank buys Piraeus for EUR 75 million Post Bank is buying Piraeus Bank for EUR 75 million after the headquarters of the two institutions in Athens signed an agreement to finalize the acquisition deal. BACB and Investbank, as well as an active fund in the region, participated in the competition with offers for the purchase. The sale of the small bank has been running for months because of pressure from creditors of their Greek mother banks to split up with non-strategic assets in the southern neighbor. The result of the deal will be an improvement in the position of Postbank, which is currently the fifth largest bank on the Bulgarian market. The buyer's stated intention is to merge and thus become No. 3 on the Bulgarian bank market. After the transaction, Postbank will remain the only Greek bank in the country. As of the first nine months of this year, Postbank has assets for BGN 8.1 billion, and Piraeus Bank Bulgaria has BGN 3.1 billion. The forecasts are that Postbank's total assets after the deal will exceed EUR 5 billion, which will lead the institution ahead of Fibank and perhaps UBB, which recently ceased to be Greek after it had been acquired the Belgian KBC. According to expectations, after the deal the bank will generate revenue of EUR 150 million before provisions and a net profit of EUR 70 million. Currently, Piraeus Bank employs more than 900 people, and the branch network has 70 offices across the country.
Source: Capital (08.11.2018)

The ECB has announced which six Bulgarian banks it will check The European Central Bank (ECB) has announced the six Bulgarian banks for which an asset quality review and a stress test will be launched. This is part of the process of Bulgaria's request for close cooperation with the ECB, which is the first step towards joining the single banking union. Inclusion in it must in turn precede Bulgaria's entry into the ERM II mechanism. According to the official announcement of the financial institution, the three largest banks that will be reviewed are UniCredit Bulbank, DSK Bank, UBB, as well as First Investment Bank, Central Cooperative Bank and Investbank. "An overall assessment is a mandatory part of the process of establishing close cooperation between the ECB and the national competent authority of an EU Member State whose currency is different from the euro," the ECB said. The review of financial institutions' assets and stress tests will begin as early as this month and the results will be ready and published in July next year.
Source: money.bg (13.11.2018)

HypoCredit AD-Sofia (9RTE) BSE has received a report under Art. 100g (1), item 3 of the POSA as at 30 September 2018 from CB United Bulgarian Bank AD in the latter's capacity of a trustee of the bondholders of HypoCredit AD-Sofia (9RTE), ISIN BG2100018089.
Source: BSE (19.11.2018)

With reference to a Board of Directors decision for the increase in capital of Lavena AD-Shumen adopted on 25 October 2018 and to the subsequent announcement pursuant to Art. 92a of the POSA made on 07 December 2018 via the chosen information agency (www.x3news.com) as well as via the websites of the issuer and of the authorised investment intermediary, please, be informed that the BSE Director of Trading has issued an order on the grounds of Art. 32 (2) in conjunction with (1) of Part III - Listing Rules of the BSE Rules and Regulations for the admission to trading of the following issue of rights: - Number of shares prior to the increase: 8,319,506 - Number of rights issued: 8,319,506 - Number of shares offered for subscription: 1,599,905 - Nominal value per share: BGN 1.00 - Issuing value per share: BGN 3.50 - Ratio between the rights issued and new shares: 5.2/1 (rights/share) - Everyone may subscribe at least to one (1) new share and at most to such number of shares equal to the number of acquired and/or held rights divided by 5.2. - The capital will be increased if at least 1,000,000 new shares will be subscribed to and paid in. - BSE code assigned to the rights issued: 4L41 - ISIN of the rights issued: BG4000016189 - LEI code of the issuer: 485100EMCXGWTWVPV192 - Trading lot: One (1) right - Currency of trading: BGN - Minimum tick size: 0.001 - Indicative reference price set for the first trading session: BGN 0.01; In case of a change before the first date of trading, the new reference price will be duly disclosed. - Starting date of trading in rights on the Exchange: 18 December 2018 - Final date of trading in rights on the Exchange: 28 December 2018 - Starting date of transferring the rights: 18 December 2018 - Final date of transferring the rights: 02 January 2019 - Auction date as per Art. 112b (7) of the POSA: 09 January 2019 - Starting date of subscribing to shares of the increase: 18 December 2018 - Final date of subscribing to shares of the increase: 24 January 2019 - Investment intermediary authorised to administer the capital increase: BenchMark Finance AD - Bank with which an accumulation account will be opened: CB United Bulgarian Bank AD - The right to take part in the capital increase shall be entitled to all shareholders registered with the Central Depository not later than seven (7) days following the date of publication of the public offering notice in pursuance of Art. 92a (1) of the POSA i.e. by Friday, 14 December 2018 (Record Date). - The final date for transacting shares of this company on the Exchange, as a result of which the holder will be entitled to take part in the capital increase, will be Wednesday, 12 December 2018 (Ex Date: 13 December 2018).
Source: BSE (12.12.2018)