Bulgaria's Energoni plans to buy back up to 10% of stock in five years

SOFIA (Bulgaria), January 19 (SeeNews) – Bulgarian renewable energy company Energoni [BUL:2EL] said on Monday it plans to ask shareholders for their approval to repurchase up to 10% of the company's capital within the next five years, but at the rate of no more than 3% per calendar year.

The company intends to buy back 4,756,300 of its own shares at a minimum price of 0.001 levs ($0.0006/0.0005 euro) and a maximum price of 1.0 lev, Energoni said in a statement.

The decision will be put to the vote at an extraordinary shareholders' meeting on March 6.

Energoni, set up in 2007, is active in the development and construction of energy industries. Its main business activities include investing in renewable energy sources and power generation, providing integrative management and execution of turnkey investment projects in the renewable energy sources sector, and delivering services in construction of wind park systems and equipment.

(1 euro = 1.95583 Bulgarian levs)

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