Meeting of the Board of Directors
Financial
We would like to announce hereby that on 13.05.2016 was held a meeting of the Board of Directors of MONBAT AD where the following resolutions were approved:
- The Board of Directors of Monbat AD adopted a resolution for convocation of a regular attendance session of the Annual General Assembly of the shareholders of Monbat AD on 27.06.2016 at 10.30 in the city of Sofia, Grand Hotel Sofia. Among the resolutions to be proposed for voting to the shareholders are: distribution of the company’s profit generated in 2015, namely: distribution of dividend in the amount of BGN 10 920 000; amendments to the Remuneration policy of the members of the Board of Directors; change in the permanent and additional monthly remuneration of the corporate board members and amendments to the company’s Articles of association. More information on the convening of the General Assembly of Shareholders and the particular draft resolutions proposed to shareholders can be found in the invitation and the written materials announced by Monbat AD.
- The Board of Directors of Monbat AD adopted a resolution for a new buy back procedure of company’s own shares to be performed, namely up to 3 % of the share registered capital or up to 1 170 000 shares. Minimum price for the buy back shall be BGN 6.00 and the maximum price for the buy back shall be BGN 8.00. The Board of Directors set the initial terms for the by back procedure to be 01.06.2016. More information on the new buy back procedure can be found in its particular public announcement under the procedure of the Law on Public Offering of Securities and the Commercial Act. 3.
- The Board of Directors of MONBAT AD adopted a resolution to establish a Corporate Governance and Internal Control Committee to the Board of Directors with the following members: Atanas Bobokov, Kamen Zahariev, Yordan Karabinov and Peter Bozadzhiev. The purpose of the committee’s establishment is to raise the corporate governance standards in the company and the effective functioning of the internal control system. The Committee will report quarterly to the Board of Directors and may put forward proposals on the implementation of corporate governance and internal control best practices.
contact for investors
Daniela Peeva
Investor Relations Director
tel. +359 2 988 2413
e-mail: investorrelations@monbat.com