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General Meeting of Shareholders

06 Mar 2004 | 12:13

March 6, 2004: The EGM took a decision IHB to issue convertible bonds
Extraordinary General Meeting of Shareholders /EGM/ of Industrial Holding Bulgaria plc /IHB/ was held. The EGM took a decision IHB to issue convertible bonds with parameters as follows:
Total issuing value of the issue: BGN 5,250,808
Number of bonds: 5,250,808 bonds
Face value per bond: BGN 1.00
Issuing value per bond: BGN 1.00
Type of bonds: convertible, dematerialized, registered, freely transferable, naked
Term till bond issue maturity: 36 months
Interest rate: 6% annually
Constant recurrence of interest payments: six-month, twice a year
The principal amount of the bond issue shall be redeemed at a time on maturity or through conversion of the bonds into shares.
Minimum amount of accumulated payments providing for conclusion of the bond issue: BGN 2,100,000.
Maximum amount of accumulated payments providing for conclusion of the bond issue: BGN 5,250,808.
Correlation between the rights issued pursuant to Paragraph 1, item 3 of the POSA and one bond: Any 4 rights issued against 4 shares of the company capital held shall give their holder (a shareholder or a third party, who has acquired the rights through an open auction) the right to subscribe to 1 bond.
The EGM voted a possibility for pre-term paying off of a part of or of the whole bond issue through conversion of the bonds before the expiration of the bond issue term.
The EGM authorized the Management and Supervisory Boards of the company to prepare a Prospectus for initial public offering of bonds.
The EGM made amendments to the Statute of the company.

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