The Ministry of Finance has included a new item on the agenda of the General Meeting of Shareholders of the Bulgarian Stock Exchange, Sofia (BSE ), which is scheduled for June 3. The state as majority shareholder with a stake of 50.05% offers shuffles in the composition of the Board of Directors, as the invitation for the meeting says.
Ministry will seek an early termination of the mandate of members of the board – Assen Yagodin (now Chairman), Vasil Golemanski (Deputy Chairman and Executive Director) and George Bulgarski.
To replace them are to be selected (if they get approved by the the Financial Supervision Commission, in accordance with the Markets in Financial Instruments Act) Natalia Stoyanova Petrova, Ivan Borisov Kutlov and Dimo Evgeniev Spassov.
The first proposal for changes in the management of BSE was in the agenda of the extraordinary general meeting in January this year but it was blocked by the Financial Supervision Commission as the procedure was violated. Then the Treasury wanted to replace the three board members (Yagodin, Golemanski and Bulgarski) with Gergana Chavdarova Beremska -Kardjova, Dimo Spassov and Ivan Kutlov. Now instead Beremska-Karadjova for a board member is proposed Natalia Petrova.
Shareholders will also discuss ways to distribute the profit of BSE-Sofia from 2013, which after taxes amounted to 1,054,026 levs . Managers offer 70% of it, or 737 818 levs, to be paid as dividend. Thus each share will bring a 0.1121 levs in dividend. The remaining 30% (316,208 levs) is proposed to go to the Reserve Fund.
To adopt this distribution proposal, shareholders will have to accept the report and financial statements of the company.
The BANKER
