The Board of Directors has decided to announce the start of a procedure for buy-back of own stock of Stara Planina Hold’s capital.
Pursuant to Art. 187b of the Commercial Law, Art. 111, para. 5 and 6 of the Law on Public Offering of Securities and pursuant to a resolution of the General Meeting of Shareholders of the Company held on May 16, 2019, on September 4, 2019, the Board of Directors decided to announce the procedure for redemption of treasury shares of Stara Planina Hold Plc under the following conditions:
1. Number of shares to be repurchased - up to 0.5% of the capital or up to 105,000 (one hundred and five thousand) shares.
2. Initial redemption date - 05/09/2019
3. Minimum redemption price - BGN 5.00.
4. Maximum redemption price - BGN 5.00.
5. Deadline for redemption, including payment of the repurchased shares - until 31.10.2019 incl.
6. In the event that a certain amount of shares is exhausted, namely if the company buys 105,000 shares, the redemption procedure is terminated as successfully completed. In the event that the maximum number of shares is not redeemed within the period specified in point 5, the Board of Directors may, at its discretion, extend the time limit subject to the conditions set out in the preceding sentence.
7. Selects International Asset Bank AD as a licensed investment intermediary to which a buyout order will be issued.