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IHB will increase the registered capital

29 Aug 2007 | 10:43

DECISION
for increase the capital of Industrial Holding Bulgaria plc,
through new issue of shares

On 29 August 2007, The General Meeting of Shareholders approved a decision to increase the capital of the Company, namely:

I. The General Meeting increases the registered capital of the company from BGN 26 254 040 up to not more than BGN 43 756 733 by means of issuance of up to not more than 17 502 693 new ordinary non-physical voting shares with nominal value of BGN 1 and issue value of BGN 2,40.

The registered capital shall be increase under the terms and conditions set forth in Art.192, Paragraph 1, first sentence, Art.194, Paragraph 1 of the Commercial Act and Art.112 and following articles as per the Public Offering of Securities Act.

On the grounds of Art.112b, Paragraph 2 of the Public Offering of Securities Act persons who have acquired shares not later than 14 days after the date of the decision for increase of the capital of company are entitled to participate in the capital increase.

For each existing share as of the end of the term hereinabove mentioned shall be issued one subscription right. Each 3 /three/ subscription rights shall entitle their owner to subscribe 2 /two/ new shares with issue value of BGN 2,40 each.

Each person shall be entitled to subscribe such number of shares which be equal to the number of subscription rights acquired or possessed multiplied by 2/3.

The registered capital of the company will be increase only if at least 15 000 000 shares with nominal value of BGN 1 and issue value of BGN 2,40 each are subscribed and paid in, whereby in this case the registered capital of the company will be increased only with the nominal value of the shares subscribed. It is not possible an upwards diversion beyond the capital limit offered for subscription.

II. The General Meeting appoints First Financial and Brokerage House Ltd. having its registered seat and address of management in the city of Sofia, 2 Enos Street as investment intermediary for the increase of the registered capital of Industrial Holding Bulgaria PLC.

III. The General Meeting empowers the Managing board of the company to adopt decisions related to specification of the terms and conditions and procedure related to the increase of the capital, as well as to prepare the prospectus for public offering of the shares; as well as to conclude the contract with the appointed investment intermediary and to undertake all and any necessary legal and other actions with regard to fulfillment of the decision for increase of the registered capital.

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