Petrol with another attempt for a 4 to 1 reverse stock split (NEUTRAL)

The management of Petrol called an EGM on 15 February’17, on which its shareholders would vote on a 4 to 1 reverse stock split. If the proposal is approved, the par value of the company’s shares would be quadrupled to BGN 4.00 per share, while its number of shares would decline to 27 312 403, by which its capital would remain unchanged. If the pre-split number of shares of a shareholder is not a multiple of 4, the number of post-split shares of this shareholder would be rounded upwards at the expense of another company's shareholders - Perfeto Consulting EOOD. Please recall that this is the second EGM on this matter, with the first one being held on 16 November 2016, when the shareholders rejected the proposition.