Sofia Commerce Pawn Brokerage to issue up to BGN 5m preferred stock (NEUTRAL)

The shareholders of Sofia Commerce Pawn Shops approved the proposal to issue up to 5m new preferred shares of BGN 1 par value. The exact number of shares and the total issue value would be decided by the Board of Directors. The shareholders were supposed to vote on a tender offer to themselves for up to BGN 2m, but the voting on that item from the agenda was banned by the FSC.