Sofia City Court registered the following changes for Eurohold JSC: registered amendments and supplements in the Statutes, passed on the general meeting of the shareholders held on June 30, 2003; registered the circumstance that the company shall be public according to Art. 110 of POSA.
Source: State Gazette (16.01.2007)

Sofia City Court registered the following changes for Eurohold JSC: registered the transformation of Eurohold JSC, and Starcom Holding JSC (reg. with company file No 6333/95), through their merger with the newly-established Eurohold Bulgaria JSC (reg. with company file No 14436/2006 of the Sofia City Court); registers dissolution without liquidation of the merging company Eurohold JSC, as its entire property shall be assigned to Eurohold Bulgaria JSC, under the terms of a universal succession; Eurohold Bulgaria JSC shall manage separately the assigned property of Eurohold JSC within a 6-month period, wherein each creditor of the company involved in the transformation, and the receivable of which is not secured and has arisen prior the transformation date, shall have the right to ask performance or security according to his rights; in case that the demand is not fulfilled the creditor shall have the right of preferred execution from the right owned by his debtor
Source: State Gazette (16.01.2007)

Sofia City Court registered the following changes for Starcom Holding JSC: registered the transformation of Starcom Holding JSC, and Eurohold JSC (reg. with company file No13770/96), through their merger with the newly-established Eurohold Bulgaria JSC (reg. with company file No 14436/2006 of the Sofia City Court); registers dissolution without liquidation of the merging company Starcom Holding JSC, as its entire property shall be assigned to Eurohold Bulgaria JSC, under the terms of a universal succession; Eurohold Bulgaria JSC shall manage separately the assigned property of Starcom Holding JSC within a 6-month period, wherein each creditor of the company involved in the transformation, and the receivable of which is not secured and has arisen prior the transformation date, shall have the right to ask performance or security according to his rights; in case that the demand is not fulfilled the creditor shall have the right of preferred execution from the right owned by his debtor
Source: State Gazette (16.01.2007)

Sofia City Court allows the application in the companies register in company file 13770/96 of the verified and accepted annual financial statement for 2002 of Eurohold JSC.
Source: State Gazette (16.01.2007)

Sofia City Court registered the joint stock company Eurohold Bulgaria JSC, formed through the merger of Eurohold JSC (reg. with company file No13770/96), and Starcom Holding JSC (reg. with company file No 6333/95), Eurohold Bulgaria JSC, having its registered office and principal place of business in Sofia, Izgrev region, 16 G.M.Dimitrov Blvd., and the following line of business: acquisition, management, evaluation and sale of holdings in local and foreign companies, acquisition, management, and sale of bonds, acquisition, evaluation and sale of patents, granting licenses for use of patents to company, wherein it participates, financing companies wherein the company participates; the company shall be public by the sense of the POSA; registered for unlimited term; with a capital of BGN 50,002,586, divided into 50,002,586 ordinary registered dematerialized voting shares with a par value of BGN 1; the company has a Supervisory Board with the following members: Asen Milkov Hristov -chairman, Dimitar Stoyanov Dimitrov – deputy chairman, and Ivan Georgiev Mankov, and a Managing Board with the following members: Asen Minchev Minchev – executive officer, Kiril Ivanov Boshov – chairman, and Iva hristova Garvanska – deputy chair. The company shall be represented by the executive officer of the managing Board Asen Minchev Minchev. Registered dissolution without liquidation of Eurohold JSC (reg. with company file No13770/96), and Starcom Holding JSC (reg. with company file No 6333/95), as the entire property shall be granted to Eurohold Bulgaria JSC, under the terms of universal succession; Eurohold Bulgaria JSC shall managed separately the granted property of Eurohold JSC and Starcom Holding JSC for a 6-month period; wherein each creditor of the company involved in the transformation, and the receivable of which is not secured and has arisen prior the transformation date, shall have the right to ask performance or security according to his rights; in case that the demand is not fulfilled the creditor shall have the right of preferred execution from the right owned by his debtor.
Source: State Gazette (16.01.2007)

Bulgarian companies will have the opportunity to present themselves before investors in London in the period March 6 to 8. This is the third meeting of this kind organised by the UK consultancy company Financial Services for Eastern Europe (FSEE), the Association of Bulgarian Investor Relations Directors (ABIRD) and the Bulgarian Industrial Capital Association (BICA). Monbat, Sofia International Securities, Enemona and Eurohold Bulgaria will are among the companies that will take part in the meeting with UK investors.
Source: Pari (18.01.2007)

RESOLUTION No 321 from December 21, 2006. On the grounds of Art. 27, Para. 2, item 2, in connection with Art. 21, Para. 1, item 1 of the Law on Protection of Competition, the Commission decided: Accepts as a status that the merger of Starcom Holding JSC and Eurohold JSC is not a business concentration by the sense on Art. 21 of the Law and shall not be included in the envelopment of Art. 24 of the Law. The resolution could be appealed at the Supreme Administrative Court of the Republic of Bulgaria within 14 days of the promulgation according to Art 41, Para. 3 of the Law. Chairman: P. Nikolov
Source: State Gazette (23.01.2007)

The Financial Supervision Commission took the following decisions on a meeting, which took place on January 25th 2007: Registered Eurohold Bulgaria JSC – Sofia as a public company in its register. Registered bond issue of the company with value of BGN 50 002 586, allocated into 50 002 586 common shares with nominal value of BGN 1 each. The issue is actually the registered capital of the company after the fusion of Eurohold JSC and Starcom Holding JSC into Eurohold Bulgaria JSC.
Source: FSC (25.01.2007)

Bulgaria's Financial Supervision Commission (FSC) has entered Eurohold Bulgaria in the register of public companies in Bulgaria. Eurohold Bulgaria was established through the merger of public company Eurohold and Starcom Holding. Eurohold Bulgaria's capital amounts to BGN 50 million. Bulgarian Holding Corporation is a major shareholder in Eurohold Bulgaria. The latter in turn is a major shareholder in insurance company Euroins.
Source: Pari (26.01.2007)

Etropal JSC has a BGN 10.7 mln. sales income for 2006 and over 70 % growth of its incomes for the same year. The profit of the company after taxes has doubled as well – from BGN 250 000 for 2005 to BGN 475 000. Etropal doubled its capital shares in the end of the previous year. The company is an issuer of bond issue with manager Euro Finance JSC. The company expects to finish a five-year-long investment programme during 2007. Etropal is a part of the portfolio of the newly created holding Eurohold Bulgaria JSC.
Source: Monitor (26.01.2007)

Eurohold Bulgaria posted BGN 1.663 million net profit for 2006, a tenfold increase compared to the BGN 162,000 profit netted in 2005. The operating revenue of the company grew from BGN 190,000 in 2005 to BGN 1.854 million in 2006. The increase may be attributed to the higher revenue from operations with financial assets and instruments, which grew to BGN 1.362 million as at the end of 2006. At the same time, the operating costs of the company totalled BGN 191,000 in 2006, up from BGN 28,000 a year earlier. Eurohold's external services costs grew from BGN 6,000 in 2005 to BGN 64,000 as at the end of 2006.
Source: Pari (07.02.2007)

The secondary trade in shares of Eurohold Bulgaria, established through the merger of Eurohold and Starcom Holding, will start on Wednesday on the Bulgarian Stock Exchange (BSE). The stock will be traded on Segment A of BSE's unofficial market. A total of 50,002,586 shares with BGN 1 par value each will be offered for trade. Eurohold Bulgaria specialises in the acquisition, management, assessment and sale of stakes in Bulgaria and enterprises. The company also specialises in bond management and sales, assessment and sales of patents and funding of companies. The portfolio of the new public company will comprise of 28 enterprise, including insurance company Euroins.
Source: Pari (12.02.2007)

The Bulgarian bourse has given the go-ahead to the issue of Eurohold Bulgaria, formed after the merger of Eurohold and Starcom Holding, to start trading from Feb 14. The BGN 50 mln capital of the new holding company is divided into shares with a par value of BGN 1 each. The managers of Eurohold Bulgaria said the free float of the company should reach 25-30 per cent by the end of the year.
Source: Dnevnik (12.02.2007)

The secondary trade in shares of Eurohold Bulgaria, established through the merger of Eurohold and Starcom Bulgaria, starts on Wednesday. A total of 50 million shares with BGN 1 par value each will be offered for trade on the Bulgarian Stock Exchange (BSE). Eurohold Bulgaria invests in real estate, manufacturing, financing and automobiles. The portfolio of the company features 18 enterprises, including the likes of Euroins insurance company, Nissan Sofia Consult, Euro Finance and Formoplast. Bulgarian Holding Corporation is a majority shareholder in Eurohold Bulgaria with a 96.3-percent stake. Eurohold Bulgaria's assets amounted to BGN 188.7 million at the end of 2006. The operating revenue of the company totalled BGN 181.45 million in 2006.
Source: Pari (14.02.2007)

The insurance company Euroins will enter the European market. This might happen either by buying of companies in two neighbor countries, or by granting its own products, the Chairman of the Supervisory Board of Eurohold Bulgaria JSC Assen Hristov said. Eurohold wants to buy companies for sale of automobiles in Romania and Greece as well. Yesterday was the first day for the shares of Eurohold Bulgaria JSC to be traded on the stock exchange after Eurohold and Starcom Holding merged. Over 3.357 mln. shares were traded at a medium price of BGN 2.79. Another 2.5 mln shares at a minimal price of BGN 2.65 will be offered at an auction on the stock exchange in a week. 15 % of Eurohold’s capital will be traded on the stock exchange in this way. There will be an increase of Eurohold’s capital until June, so that 30% of its capital will be traded.
Source: Standart (15.02.2007)

Bulgaria's financial regulator is expected to approve by the end of March the public offering prospectus submitted by local wine cellar Todoroff, said investment intermediary BenchMark which is in charge of the paperwork. If the Financial Supervision Commission rejects the prospectus it would have to be revised and refiled. The Todoroff IPO will be the first by a company from the local food and beverage industry. The free float of the company will be 25 per cent, board member Chavdar Tsenov said recently. The Todoroff wine cellar, established in 1945, is based in the village of Brestovitsa, in the Plovdiv region. It is 51 per cent-owned by Ivan Todorov with BenchMark Group controlling a 30 per cent stake. The wine cellar, which has an annual capacity of 420,000 bottles, absorbed BGN 3.5 mln in investment last year. An additional BGN 0.5 mln were spent on new vineyards. The company, which manages 74 ha of vineyards in the Brestovitsa area, plans to invest BGN 5 mln through 2010.
Source: Dnevnik (20.02.2007)

The investors willing to buy Eurohold stock who failed to do so during the initial public offering were given a second chance on Wednesday, when a special auction was organised for BGN 2.5 million worth of shares. Non-competitive bids reached an average price of BGN 3.5 per share. A total of 442 bids were approved. The maximum price achieved was BGN 6, the minimum approved, BGN 3.35. A total of 2,476,699 shares worth BGN 8.67 million changed hands at the auction. Eurohold Bulgaria appeared on the stock market as a result of the merger of Eurohold and Starcom Holding. The shares of the new company were listed for secondary trade on February 14, 2007. The issue consists of more than 50 million shares.
Source: Pari (22.02.2007)

The shares of Eurohold Bulgaria, which would be traded on the Stock exchange and are off the majority owner, reached 15 %, the Executive Director of the investment intermediary Eurofinance Simeon Petkov announced. This happened after another 2.5 mln shares were offered on an auction yesterday. The total turnover of the bourse auction was about BGN 8.668 mln. The shares of Eurohold Bulgaria have been traded on the unofficial market of BSE since February 14th. About 185 000 shares were traded on the regular bourse session yesterday at a medium price of BGN 3.76. The accomplished results on the auction can be determined as very good for the issuer, Christo Dzhenev, broker in Intercapital Markets said. The free shares of the company will be increased up to 30 % after the increase of the capital and the majority owner Bulgarian Holding Corporation won’t subscribe a part of the attributed new shares. It would decrease its share in this way. Everyone,, who was a shareholder in Eurohold, which does not exist anymore, could take 8 new shares from the new holding for one old share. The shareholders of Starcom, which was not a public company will take 5.83 new shares.
Source: Dnevnik (22.02.2007)

Most of the heavyweight holding companies traded on the Bulgarian stock exchange posted a revenue increase in 2006, show their consolidated financial reports. The heftiest gains were reported by the 3 biggest holding companies. Former privatisation funds Synergon Holding, Doverie Obedinen Holding and Industrial Holding Bulgaria each recorded full-year revenues in excess of BGN 100 mln. Standout Synergon posted revenues of BGN 347 mln mainly due to the performance of subsidiary Toplivo. Doverie Obedinen Holding erased a year-ago loss of BGN 3.164 mln to finish BGN 3.648 mln in the black in 2006. Revenues at Stara Planina Hold also rose but the company's profits almost halved due to an accounting adjustment. Albena Invest, Zlaten Lev Holding, Favorit Hold and Holding Varna A all posted revenue declines for 2006.
Source: Dnevnik (02.03.2007)

The long-awaited auction of Eurohold’s shares on the Bulgarian Stock Exchange passes under great interest. The filed orders were with value of BGN 45.4 mln, which is much more than the concluded deals with value of BGN 8.7. The medium price for fulfillment of the orders was fixed at BGN 3.5 and the minimal at BGN 2.65. 74.8 % are market orders. Only 25.2 % of the classified orders were limited. Eurohold deals in finances, trade with automobiles, real estates and manufacture. The short-term plans include reaching of 10 % market share in the common insurance, sales and the leasing of automobiles, the Chairman of the Managing Board Kiril Boshov says. The preliminary data shows that the consolidated income of Eurohold for the last year is BGN 181.4 mln. The consolidated profit is BGN 9.1 mln.
Source: Monitor (02.03.2007)

Euro-Finance, the local investment brokerage, will apply for a banking licence in 2007, company owner Eurohold Bulgaria said on Thursday, March 1. The brokerage, which plans to focus on investment banking, will raise its capital to BGN 10 mln to meeting the licensing threshold of BGN 10 mln. At the moment, the investment intermediary has a capital of BGN 1.5 mln, the requirement for the underwriting of securities issues and transactions in securities for the company's own account. The expansion will be non-retail and will therefore require no branch network. The company plans to add only an office in Varna. In related news, it emerged that Eurohold Bulgaria will reach a free float of 30 per cent with the sale of 7.5 mln shares at a March 7 auction. The managing board of the holding is expected to vote next week on a capital raise from BGN 50 mln to BGN 62.5 mln. The exercise should raise some BGN 42 mln in fresh cash for investment in subsidiary companies. Eurohold Bulgaria plans to hike the capital of its Eurolease Auto unit to BGN 10 mln. The capital of health insurance company Sveti Nikolai Chudotvorets will be raised to BGN 2.5 mln to meet legislative requirements. Eurolease Auto is preparing 2 bonds and could raise EUR 30 mln to EUR 50 mln on the foreign debt markets if the global environment is conducive. The proceeds from the bond issues will be used to restructure the company's loan borrowings. The company will aim for a 10 per cent of domestic new vehicle leases and should have a lease portfolio worth BGN 85-90 mln by the end of 2007, said Asen Asenov, manager of the holding's automotive division. The company executive said a deal has been finalised for the acquisition of a car dealer that will add to the mid-price range of the automotive brand portfolio. Eurohold Bulgaria companies distribute Dacia, Renault, Nissan and Saab vehicles.
Source: Dnevnik (02.03.2007)

Bulgaria's Eurofinance has plans to apply for a banking licence. We already meet the criteria for an investment bank, except for the requirement for a capital exceeding BGN 10 million, the CEO and majority owner of Eurohold Bulgaria, Assen Minchev, said. There is a strong need for an investment bank in Bulgaria, he added. The future bank will focus on three main activities. Its main business will be investment banking, including consultancy on corporate mergers, acquisitions, restructuring and stock and bond issuing. It will also deal with asset management and financial intermediation. Eurofinance's capital will be increased from BGN 2 to 15 million. For the purpose, Eurohold Bulgaria will auction 7.5 million shares with an issue value of BGN 3.35 each. After the auction Eurohold will raise its capital by issuing 12.5 million shares with a BGN 3.35 issue value (about BGN 42 million). Bulgarian Holding Company will keep its majority stake (70%). All raised funds will be re-invested in the holding and in increasing the capital of subsidiaries Eurofinance and Eurolease.
Source: Pari (02.03.2007)

Eurohold Bulgaria Eurohold Bulgaria was established in December 2006 as a result of the fusion between Eurohold and Starcom Holding. As a successor of the public company Eurohold, it acquires the status of public company as well. Activity Eurohold deals in finances, sale of automobiles, real estates and manufacture. The financial sector is very important for the holding and the company of great importance in it is Euroins. Euroins has representative offices in 87 cities and works with more than 4000 employees, brokers and insurance agents. Eurohold Bulgaria owns about 70 % of the capital of the company. Leasing Another company of key importance is Eurolease Auto, which deals in leasing services for cars. The company develops very fast, it’s represented in over 100 cities and it’s working with the modern software product Leasing Information and Management System. Eurohold Bulgaria covers the financial agency sector through Eurolease. Services St. Nicolas JSC is the health insurance company in the portfolio of Eurohold Bulgaria. This market is weakly developed in Bulgaria, but is expected to expand up to 15 times during the next 4-5 years. Automobiles The representatives of Eurohold Bulgaria on the Bulgarian automobile market are Scandinavia Motors, Nissan Sofia, Espace Auto, GPS Control and Axon Rent-a-Car. Besides sale of new automobiles, the Holding offers services like repair, GPS control, security and logistics of the automobile park, as well as rent-a-car. GPS control has over 3000 clients already. Real estates Eurohold Real Estates and Eurohotels are the two representatives of Eurohold Bulgaria in this sector. Eurohold Real Estates manages the building fund and Eurohotel owns and manages the three-star hotel Ela in Borovets. The hotel has 170 beds and is going to add 120 more. Manufacture The holding is represented by Etropal Formoplast and Eurotest – Control. According to the consolidated data for 2006 the holding has a turnover of BGN 181 mln. and manages assets with value of BGN 189 mln. Its equity is BGN 73.8 mln. and its capital shares are with value of BGN 50 mln. The managers expect the turnover to be more than BGN 260 mln, and the profits to be more than BGN 15 mln for 2007.
Source: Pari (05.03.2007)

Monbat JSC, Eurohold Bulgaria JSC, Euroins JSC, Enemona JSC, Agria JSC, UniCredit Bulbank, Central Cooperative Bank, Bul Trend Brokeridge, Sofia International Securities, OBB, Libra, Law firm Tocheva and Mandazhieva, Agency for Investment and Consultancy JSC, will be presented at the international conference “Introduction of the Bulgarian Business on the British Capital Market 2007”, which starts tomorrow in London. The economic counselor of the president of Bulgaria - prof, Dimitar Ivanov - will be a Chairman of the Conference.
Source: Monitor (05.03.2007)

The Bulgarian companies, whose shares will be floated on the London stock exchange, will be presented today. The Bulgarian participants in the London International Conference, dedicated to the presentation of these companies, will be officially received at the Bulgarian Embassy in the UK. Some of the Bulgarian companies presented in London are Monbat, Eurohold, Enemona and Sparky Eltos.
Source: Standart (06.03.2007)

Eurohold Bulgaria plans to raise its free-float to 30% by offering additional 7.5 million shares for trade on the Bulgarian Stock Exchange (BSE). The shares will be offered at a closed mixed auction on Wednesday. The minimum price per share is set at BGN 3. The management board of Eurohold Bulgaria plans to raise the capital of the company to BGN 62.5 million through the issuing of 12.5 million new shares. The issue value is expected to be set at BGN 3.35 per share. Four rights issued as part of the capital raise operation will allow the subscription of one new share. Eurohold Bulgaria's stock depreciated to BGN 3.15 per share during Tuesday's session on BSE.
Source: Pari (07.03.2007)

Four Bulgarian public companies participated in the London conference “Presenting the Bulgarian business to the British Stock Exchange” yesterday. The companies are Eurohold Bulgaria JSC – Sofia, Monbat JSC – Sofia, Sofia International Securities JSC – Sofia and Enemona JSC – Kozloduy.
Source: Sega (08.03.2007)

Eurohold Bulgaria failed to sell 2 million of the 7.5 million shares offered at an auction on the Bulgarian Stock Exchange (BSE) on Wednesday. The auction was organised with the purpose of raising the company's free float to 30%. The company raised a total of BGN 16.577 million instead of the initially planned BGN 22.5 million. The minimum price offered for the shares ranged between BGN 3 and BGN 3.25 apiece. Thus the free float of the company increased to 25%. Eurohold Bulgaria offered 2.5 million shares of its capital on BSE just two weeks prior to Wednesday's auction.
Source: Pari (08.03.2007)

At an investment forum in London over forty international banks showed interest in the Bulgarian companies and studied the opportunities to invest on the Bulgarian capital market. The companies presented there were Eurohold, Monbat, Enemona, UBB, CCB, Unicredit Group, etc. The forum is organized for a second time, with the cooperation of the Bulgarian embassy and Bulgaria's President Georgi Parvanov's advisor, Prof. Dimitar Ivanov.
Source: Standart (09.03.2007)

Six are the most popular sectors among foreign investor: banking and finance, real estate, insurance, agriculture, industry, car manufacturing, the chair of the Association of Bulgarian Investor Relations Directors, Daniela Peeva, told the Pari daily. The data were presented at the second investment forum in London, organised by UK Financial Services for Eastern Europe and the Bulgarian association. The survey was conducted by Richard Davies Investor Relations among 10 fund managers in February. A total of 16 Bulgarian companies made presentations at the forum this year, including Monbat, Enemona, Eurohold Bulgaria, Central Cooperative Bank, United Bulgarian Bank, Agria and Sparki Eltos. The interest of the local investment banks was enormous: more than 40 international investment companies took part in the conference.
Source: Pari (14.03.2007)

Eurohold Bulgaria and its parent company Bulgarian Holding Corporation have signed an extendable 5-year loan agreement for BGN 6 mln. Eurohold Bulgaria, created after the merger of former privatisation fund Eurohold with Starcom Holding, will invest the funds in its subsidiary companies and in equity acquisitions. The holding is active in finance, manufacture, real state and auto dealing.
Source: Dnevnik (22.03.2007)

The winners in Pari daily's Top 100 ranking of Bulgarian business people in terms of registered capital owned have changed considerably since last year. For instance, Maria Avramova and Kremena Peneva, who are majority owners of Bulgarian Holding Corporation, hold the 4th and the 9th positions, respectively. The rise is due to the recently set up Eurohold Bulgaria, following the merger of Eurohold and Starcom Holding. The first place is held by the unrivalled winner, Mitko Sabev, who is one of the owners of Petrol AD and Petrol Holding. The ranking was compiled on the basis of the registered capital of the companies the business people own, as published in the Daxy information system. Though this method does not take into account their bank accounts (which are a bank secret), it shows the amount of money that they manage and that increases their wealth day by day.
Source: Pari (03.04.2007)

Clients in other EU member states are expected to contribute BGN 5 mln to the annual premium income of Bulgarian insurer Euroins in '07, the company said on Tue. Overall '07 premium revenues are seen at BGN 70 mln or 5.8 per cent of the domestic market. The company posted premium income of BGN 52.7 mln in '06, up 30 per cent year-on-year. Euroins will use BGN 2.5 mln of its '06 profit to raise its capital to BGN 10 mln. Euroins' performance will have a direct impact on the bottomline of majority owner Eurohold Bulgaria. Insurance premiums usually account for 31 per cent of the holding's net sales.
Source: Dnevnik (04.04.2007)

At least nine companies will offer their stocks on the Stock Exchange. Eurohold Bulgaria, White Lagoon, Fia Bulgaria, Alpha Credit, Capital Management have appeared on the Bulgarian Stock Exchange. FIBank is expected to hit BSE in the summer. On April 5 the bank applied for approval from the Financial Supervision Commission.
Source: 24 chasa (10.04.2007)

The bond subscription of Bulgaria's Eurolease Auto finished successfully. The company offered EUR 5 million worth of debt securities, each with a EUR 1,000 par value. The bonds were placed by Euro-Finance. Both Eurolease and the investment intermediary are part of Eurohold Bulgaria. In early March the holding said it planned to raise Eurolease Auto's capital to BGN 10 million and float a bond issue on the international markets. The stock market did not react to the news about the successful placement. The price of Eurohold Bulgaria's stock remained flat at BGN 3.2, as 35,400 shares changed hands. According to unaudited data, the holding's consolidated profit for 2006 amounts to BGN 11.11 million.
Source: Pari (19.04.2007)

Eurolease Auto, the Bulgarian auto leasing company, said it has issued a EUR 5 mln bond which will be listed on the Bulgarian stock exchange within 6 months. The private placement matures in 2012. The interest coupon is equal to the 3-month EURIBOR+2.75 per cent. Eurohold Bulgaria, the parent of Eurolease Auto, said earlier this year that the capital of the leasing company will be increased to BGN 10 mln. It was announced at the time that Eurolease Auto is preparing 2 bond offerings. The management said that if the circumstances are favorable, the company may offer EUR 30 mln to EUR 50 mln in securities on international markets. The proceeds will be used to restructure the loan portfolio of the company. The Eurolease Auto leasing portfolio is seen reaching BGB 85-90 mln by the end of 2007.
Source: Dnevnik (19.04.2007)

Eurohold Bulgaria foresees a profit for 2007 of BGN 15.5 mln or BGN 0.25 per share, announced the holding company. In 2006 it registered a profit of BGN 9.7 mln or BGN 0.19 per share including the period when transforming Eurold and Starcom Holding operated separately. The company brought in the Financial Supervision Commission a prospect for capital raise according to the board of directors decision from March. The raise will be made through 12,500,646 new ordinary registered dematerialized shares with nominal value of BGN 1 per share and emissional value of BGN 3.35 per share. As a result the capital of the company will alter from BGN 50,002,586 to BGN 62,503,232.
Source: investor.bg (20.04.2007)

Local holding company Eurohold Bulgaria said it has finalised the acquisition of Cargoexpress, a dealer authorised to distribute Opel and Chevrolet vehicles in the Varna region. The deal price was not disclosed. Cargoexpress was part of the GE global distribution network and therefore the deal had to be approved by GE Motors South-east Europe which it did in March. The take-over is part of Eurohold's strategy to gain a 10 per cent share of the local market for new vehicles. Eurohold said the deal should boost the revenues of its automotive division by over 20 per cent and profit by over 40 per cent. Prior to the Cargoexpress deal, Eurohold was authorised to distribute locally Renault, Nissan, Dacia and Saab vehicles. The holding company expects to sell over 3,000 new vehicles in 2007.
Source: Dnevnik (21.04.2007)

Eurohold Bulgaria posted BGN 5.96 million consolidated profit for the period October to December 2006, after the merger of Stardom Holding and Eurohold. The combined profit of the two companies prior to their merger amounted to BGN 3.74 million. Eurohold Bulgaria's assets stood at BGN 172 million as at the end of December 2006. The net asset value of the company totalled BGN 64.2 million. Eurohold Bulgaria manages mainly financial, automotive, manufacturing and real estate companies. Financial sector companies generated BGN 5.157 million profit accounting for 53% of the profit of Eurohold Bulgaria's 20 subsidiaries. The holding company has submitted a new prospectus to the Financial Supervision Commission (FSC), for the offering of 12.5 million new shares with BGN 3.35 issue value each.
Source: Pari (23.04.2007)

Enemona, the Bulgarian power engineering company, racked up a profit of BGN 451,000 in Q1, up from BGN 381,000 a year earlier. Overall revenues topped BGN 11 mln with operating costs at BGN 10.66 mln. The capital of the company rose 4.18 per cent to BGN 11.24 mln. The company is headed for a listing on the Bulgarian stock exchange after the shareholders recently approved the move. Enemona was previously listed on the local bourse only as a bond issuer.
Source: Dnevnik (04.05.2007)

Investors will be able to seal deals allowing participation in Eurohold's capital raise operation as of May 15. Trade in Eurohold's rights will continue until May 28. Eurohold will issue a total of 50,002,586 rights. Four rights will allow the subscription of one new share. The company plans to raise its capital from BGN 50,002,586 to BGN 62,503,232. Eurohold will also issue a total of 12,500,646 new shares with BGN 1 and BGN 3.35 par and issue value, respectively. At least 7,500,388 shares have to be subscribed in order for the capital operation to be successful.
Source: Pari (07.05.2007)

The Supervisory Board of Eurohold Bulgaria JSC – Sofia convenes an annual general meeting of the shareholders on June 29, 2007.
Source: State Gazette (08.05.2007)

Local holding company Eurohold Bulgaria has forecast revenues of BGN 95 mln and a profit of BGN 6.3 mln for the first half of 2007. The company also released Q1 results, showing net profit for the period at BGN 2.5 mln and revenues of some BGN 40 mln. The financial and automotive subsidiaries contributed 1.443 mln and BGN 0.5 mln to the consolidated profit. Eurohold-controlled insurance company Euroins posted a net profit of BGN 677,000 for Q1. Auto leasing subsidiary Eurolease Auto reported a profit of BGN 353,000, up from BGN 106,000 a year ago. Profits at investment intermediary Euro Finance rose to BGN 481,000 in Q1 2007 versus BGN 67,000 a year earlier. The automotive subsidiaries combined for a Q1 revenue total of BGN 17.557 mln which compares with BGN 11.673 mln a year earlier. The total assets of the holding company stood at BGN 203 mln by end-March while own capital was at BGN 67 mln.
Source: Dnevnik (09.05.2007)

One of the youngest holdings on the Bulgarian Stock Exchange, Eurohold Bulgaria, has delighted its shareholders with a BGN 2.5 million net profit for the first quarter of 2007, the consolidated report shows. The net sales amount to BGN 36.363 million, the business expenses total BGN 34.792 million. The results fully agree with our plans for a BGN 15.5 million net profit for 2007, Eurohold Bulgaria's management board chairman, Kiril Boshov. All our subsidiaries post profit growth of three- to fourfold, he added. Eurohold plans to raise its capital from BGN 50.0 million to BGN 62.5 million by floating 12.5 million shares with a BGN 1 par value and a BGN 3.35 million issue value. The company will also issue 50.0 million rights. Our aim is to achieve a 10-percent share in the sectors of insurance, leasing, car sales, voluntary health insurance, Kiril Boshov said.
Source: Pari (09.05.2007)

The Eurohold Bulgaria reports and the corresponding information of the subsidiaries show a good start, despite the fact that a direct comparison between the results for the first quarter and the same period last year cannot be made due to the company beeing founded last year. The transportation and finance sectors are most responsible for the results. Euro Ins JSC registered a profit of 328 percent compared to the first quarter of 2006 and Euro-finance FH JSC rose its profit more than 7 times. Over 3 times is the raise of Evrolijiz Auto JSC profit. In the beginning of the year Eurohold acquired two more companies in automobile direction. As a result the expectation of 60 percent raise of the profit in 2007 look founded.
Source: Pari (09.05.2007)

Local insurance company Euroins will propose to shareholders at a June 29 general meeting to distribute as dividend 30 per cent of its 2006 net profit of BGN 4.23 mln. The allocated BGN 1.27 mln break down to a gross dividend of BGN 0.17 per share versus the BGN 0.05 per share paid out in 2005. The insurer will use BGN 2.5 mln from last year's earnings to raise its capital to around BGN 10 mln. The company will do so by issuing 2.5 mln new share in the form of stock dividend The residual earnings will be transferred to company reserves. Euroins is almost in position to market its products across the EU based on the so called common passport, said investor relations officer Maya Ivanova. The company, part of local holding company Eurohold Bulgaria, will first take a stab at the markets in Belgium, Spain, Greece and Germany. The only thing that now needs to be done is to select a broker for the company's products and services abroad.
Source: Dnevnik (14.05.2007)

Bulgarian Holding Corp. (BHC) said it will subscribe 71.6 per cent of the share offering placed by Eurohold Bulgaria, a financial holding company where it is a majority shareholder. Eurohold Bulgaria supervisory board chairman Asen Hristov told Dnevnik he was confident the capital raise will be successful. He said some 84 per cent of the share offering have been subscribed so far and that includes investors that are not current equity holders. The U.S. Firebird Avrora Fund, one of the bigger Eurohold shareholders, will subscribe the shares it is eligible to pick up, said Hristov. IN March this year, the fund bought a 6 per cent stake in Eurohold Bulgaria. The free float of the holding company will remain 30 per cent, said Hristov. Eurohold is performing a capital hike from BGN 50 mln to BGN 62.5 mln. The company could raise up to BGN 42 mln if the BGN 3.35 mln share offering is fully subscribed.
Source: Dnevnik (17.05.2007)

The profit of Eurohold Bulgaria, by the rights for raising the capital, is between 100 and 300 percent for the week they are traded at BSE-Sofia. Due to their specification the rights are an instrument that is very much influenced by the market value alternations of the share. In fact the rights price cannot be less than BGN 0.001 and if case of base share rise in price, the rights price gets high very quickly. Respectively if the base share price gets low it may lead to loss of the investments. Due to index rises in recent weeks, Eurohold shares got high in price followed by the rights, leading to big profit of several hundred percents for a few days.
Source: Monitor (28.05.2007)

The auction for sale of 2.5 mln rights of the Eurohold Bulgaria AD-Sofia will take place today. The rights, to which no shares have been subscribed in the raise of the company capital from BGN 50 mln to BGN 62.5 mln, shall be offered at the auction. The emission value of the shares will be BGN 3.35. Four rights are needed to acquire one share.
Source: Standart (05.06.2007)

Etropal, a Bulgarian maker of hemodialysis consumables and equipment, said it will launch a new production line for synthetic membrane dialysers. The BGN 1.5 mln installation will boost annual output from 0.5 mln to 1.2 mln dialysers. The company, owned by Eurohold Bulgaria, manufactured 0.3 mln dialysers in 2006. So far in 2007, the Etropole-based outfit has been contracted to make 650,000 dialysers, including an order from the health ministry and an export order for 330,000 devices. Another export contract for an estimated 350,000 dialysers is expected to be signed by end-August. A further 2 new production lines will be launched by the end of July in connection with a supply deal for Tyco Healthcare Group. The investment resource allocated for 2007 should boost sales by 70 per cent to BGN 17 mln.
Source: Dnevnik (11.06.2007)

The share sale of local holding company Eurohold Bulgaria has raised the company 42 mln levs on the local bourse. The issue was fully subscribed by the Wednesday expiry deadline, enabling Eurohold to hike its capital from 50 mln to 62.5 mln levs. The proceeds will be funneled to subsidiary companies. The capital of auto leasing subsidiary Eurolease Auto will be raised to 10 mln levs while that of health insurance fund Sveti Nikolai Chudotvorets will go from 1 mln to 2.5 mln levs. The most ambitious exercise will be performed by Eurohold-controlled investment intermediary Euro Finance. The capital of the company will be enlarged to 15 mln levs before it applies for a banking licence. If such is granted, the outfit will focus exclusively on investment banking services, steering away from the retail segment altogether. Insurer Euroins, also an Eurohold company, will receive a share of the capital raise proceeds to pursue the acquisition of stakes in foreign peers and to market services and products in the rest of the EU. Eurohold said Euroins was already in talks to buy insurers in neighboring countries. No further details were immediately available.
Source: Dnevnik (22.06.2007)

Eurohold Bulgaria raised a total of BGN 41.86 million through the issuing of 12.5 million new shares, according to an announcement of the company to the Bulgarian Stock Exchange (BSE). A total of 99.96% of the shares were subscribed and paid as at June 20, which means that the capital raise operation was successful. Thus the shareholder capital of the company rose to BGN 62.5 million. The management of Eurohold Bulgaria targeted to raise BGN 42 million. The company will use the proceedings to raise the capital of its subsidiaries Euro-Finance, Health Insurance Company St Nikolay Chudotvoretz and Eurolease Auto. Eurohold plans to turn investment intermediary Euro-Finance into a bank through raising its capital and submitting a request for banking licence to the Bulgarian National Bank (BNB) at a later stage. The remainder of the funding from the issue will be used for the acquisition of new companies and optimisation of the financial and operative structure of Eurohold Bulgaria. The company also plans to expand the operations of insurer Euroins.
Source: Pari (22.06.2007)

Eurohold Bulgaria JSC has acquired Romanian Asitrans Asigurari, the company announced. With this acquisition Eurohold Bulgaria will enhance its position on the regional insurance market. The holding aims at achieving 3-5% market share in the sector of general insurance in the Balkan Region. After the acquisition, the premium income of Eurohold Bulgaria companies in the genereal insurance sector is expected to reach 130 mln leva (66.467 mln EUR) in 2007, and 180 mln leva (92 mln EUR) in 2008. Part of the acquisition deal is the purchase of Asitrans Asiguràri's subsidiary Asitrans Leasing, which specializes in the leasing of new automobiles. In order to finalize the deal, Eurohold Bulgaria must obtain the approval of the Romanian Insurance Supervision Commission. 170,000 shares of Eurohold Bulgaria have changed hands so far today on the BSE, at levels between 4.088 and 4.49 BGN/share. 31 companies operate on the Romanian Market of general insurance. Last year their total premium income increased 39% to 1.308 bln euros. Premium income for 2007 1Q stands at EUR 510 mln, or nearly 40% up from a year ago. Meanwhile Bulgarian general insurance companies' income for 1Q rose just 12.5%.
Source: Monitor (29.06.2007)

Eurohold Bulgaria AD has signed a contract for the acquisition of a majority shareholding of the Rumanian general insurance company Asitrans Asigurari. The company is the 14th insurance company in Rumania, specialised in car insurances. Through the acquisition of this company, Eurohold Bulgaria AD has strengthened its position on the regional insurance market. The holding aims at reaching 3-5% market share of the general insurance sector on the Balkans. By acquiring Asitrans Asigurari, the incomes from insurance premiums of the general insurance companies of Eurohold Bulgaria AD is expected to reach BGN 130 million in 2007 and BGN 180 million in 2008. Part of the transaction is the acquisition of the subsidiary of Asitrans Asigurari, the leasing company Asitrans Leasing, specialised in leasing of new cars. Eurohold Bulgaria AD shall finalise the transaction on condition that it obtains permission from the Rumanian insurance supervision body.
Source: Standart (29.06.2007)

Local holding company Eurohold Bulgaria said it has entered the general and auto insurance market of neighboring Romania with the purchase of Asitrans Asigurari and Asitrans Leasing. The acquisition of the auto leasing company Asitrans Leasing is part of Eurohold's deal for a majority stake in general insurer Asitrans Asigurari. Eurohold Bulgaria already has one auto leasing subsidiary, Eurolease Auto. The cost of the acquisition will not be announced before the deal gets regulatory clearance, said Asen Hristov, chairman of the Bulgarian holding. The Romanian deal is Eurohold's first acquisition abroad. Eurohold company Euroins recently notified the Bulgarian financial watchdog of its intentions to provide insurance services in several EU states. The insurer also plans to acquire stakes in peers throughout the Balkan region. Eurohold will aim to carve out a 3-5% share on the Balkan insurance market over the next 2 years, said Hristov. The holding company estimates the Romanian acquisition should boost premium income to 130 mln levs in 2007 and to 180 mln levs in 2008. Euroins generates the bulk of its premiums from auto insurance as is also the case with the new Romanian subsidiary.
Source: Dnevnik (29.06.2007)

Euroins Insurance Company was presented with the award for best corporate management for the year 2006. The prize was given to Mr. Asen Christov, chairperson of the Managing Board of Eurohold Bulgaria at ceremony in the Military Club. Euroins came first before Industrial Fund Bulgaria, Orgachim, Synergon Holding, Stara Planina Holding,. The objective of the Company with the Best Corporate Management competition is to stimulate the Bulgarian public companies and the stock exchange. The awards is bestowed for fifth year in a row, the previous winners are Albena, Sopharma, Orgachim and Industrial Fund Bulgaria. A group of experts assesses the nominated in view of 37 criteria. 6 smaller awards were handed as well. Central Co-operative Bank was awarded as the Financial Institution with the Best Corporate Management, the insurance companies were as well competing for the prize - Bulstrad and DZI were among the nominated. Fair Play Properties came first as the best investment company. Chimimport in the undisputed winner in the field of public trading; BenchMark Group came first among the New Hope teams. The media whom the jury bestowed the first place was finance.news.bg. The Corporate Management Code is being drafted said prof. Bistra Boeva, a university tutor and former member of the securities and Exchange Commission. The Code should be prepared and submitted for discussion in the autumn.
Source: Zastrahovatel (02.07.2007)

Local insurance company Euroins, majority-owned by Eurohold Bulgaria, has shareholder approval to use its '06 profit to raise capital by BGN 2.5 mln to BGN 10 mln. The shareholders will get one new for each 3 old shares. The general meeting held last week also okayed the payment of a dividend of BGN 0.17 per share.
Source: Dnevnik (04.07.2007)

At a general meeting held 29 June, shareholders in Euroins AD-Sofia approved capital increase and dividend distribution, BSE reports. Shareholders approved a simultaneous reduction and increase of capital. The capital will first be reduced from 7 499 996 leva (3 834 687 euros) to 7 499 994 leva (3 834 686 euros) via the devaluation of two shares. Capital will then be increased from 7 499 994 leva (3 834 686 euros) to 9 999 992 leva (5 112 914 euros), by transforming part of 2006 profit which stands at 2 499 998 leva (1 278 228 euros) into capital, by issuing 2 499 998 new shares with a face value of 1 lev. New shares will be allocated among shareholders in proportion to their interest in the capital prior to its increase. No real cash payments will be made. Shareholders also approved to pay out 1 270 000 leva as dividend (649,340 euros), or 0.169333423 leva per share. Another 467 132.01 leva will be allocated to the Reserves Fund. The company's net profit for 2006 stands at 4 237 130.01 leva (2 166 410 euros) after taxes. The final date for transacting the shares of the company as a result of which the holder will be entitled to dividend and to receiving new shares from the capital increase, is 11 July 2007. Eurohold Bulgaria AD is principal shareholder controlling 60.35% of the capital. Euroins stock hit new record level on the BSE today at 17 leva. The stock added 9.41% to an average of 16.39 leva today.
Source: Other (04.07.2007)

Evrohold Bulgaria JSC - Sofia, Bourse code EUBG, the annual general meeting of which was held on June 29, 2007, will not distribute dividends for the year 2006. Evrohold Bulgaria JSC - Sofia reported a profit for 2006 in the amount of BGN 603,000, which shall be allocated in the Reserves Fund.
Source: Capital market (04.07.2007)

Eurohold Bulgaria has increased its management board from three to six members. Changes have been also made in the management body of Eurohold's subsidiary, Euroins. The chairman of the insurance company's board, Kiril Boshov, has assumed the office of chief executive officer as well. Eurohold Bulgaria raised its market capitalisation by 1.21% on Friday, as more than 245,000 shares changed hand at an average price of BGN 5.01 apiece. But Euroins's stock cheapened by 0.59% to BGN 16.88.
Source: Pari (09.07.2007)

Eurohold Bulgaria is now the official majority shareholder in Romanian insurance company Asitrans Asigurari. The Bulgarian company has been given the green light from the Romanian insurance supervisory authorities. Eurohold will pay EUR 12.5 million for more than 75% of the Romanian company's capital. The integration of the company into the holding's structure has to be completed until the end of 2007, Eurohold said. The capital of Asitrans Asigurari will be raised in August and a new board of directors will be elected to include representatives of the Bulgarian owner.
Source: Pari (25.07.2007)

The Romanian insurance supervision commission allowed Eurohold Bulgaria to acquire the majority share in Asitrans Asigurari, placed 14 among the Romanian insurance companies. The deal was closed and Eurohold was enlisted as the majority shareholder of the Romanian insurer. The new company will be fully integrated in the holding by the end of 2007. In August 2007 the capital of Asitrans Asigurari will be augmented and the managers board will undergo some changes and Eurohold representatives will hold office. The present CEO for the company will be in charge henceforth as well. IT investments and new offices in Bucharest are the main priorities of the near-future improvements. The total investments Eurohold Bulgaria has put in the deal include the purchase of 75% of the capital of the Romanian company, the capital augmentation, software and operational integration of the new company, as well as the acquisition of Asitrans Leasing by the end of 2007, all investments came to EUR 12.5 million. Asitrans realised a premum of EUR 14.5 million for the first half of 2007, registering a 45% rise as compared to the previous year. Eurohold is going to invest more than EUR 30 million on the Romanian insurance market, via the insurance company and the leasing company, during the 2007-2010 period. The Bulgarian holding is targeting a 3% market share in the field of non-life insurance and a 4% market share in the field of motor vehicle leasing as the strengthening of Euro Finance as one of the leading investment mediators on the Romanian market. On June 28th Eurohold Bulgaria to have signed an agreement acquiring the majority share in a Romanian insurance company. After acquiring Asitrans Asigurari Eurohold Bulgaria expects a 2007 premium of BGN 130 million and BGN 180 million for 2008 in the field of non-life insurance. The strategy and financial consultant of the deal - EPIC - stated that with acquiring the Romanian insurer Eurohold Bulgaria strengthens its positions on the insurance market of the region. According to EPIC the holding is targeting a 3-5% market share in the field of non-life insurance of the Balkan countries.
Source: Zastrahovatel (25.07.2007)

Eurohold Bulgaria is a holding managing a capital of BGN 50 million. It was established in December 2006 as a result of the merger of Starcom Holding and Eurohold. Euroins, a subsidiary of Eurohold Bulgaria, was the first Bulgarian insurance company to target the foreign markets after the accession. Eroins Insurance Company was established in 1996 and managed a capital of BGN 3 million. In 2006 the capital of the company was augmented twice, once in April 2006 - to BGN 6 million and once more in August - to BGN 7.5 million. In the end of 2006 the biggest shareholders of the insurer were Starcom Holding and Eurohold owning the respective 62% and 11%. In 2005 the company realised a premium of BGN 40 million, as compared to BGN 29.5 million in 2004. This very index registered a 37% rise which quite surpasses the growth pace of the market. Th e2005 profit came to BGN 1.393 million, as compared to BGN 593 thousand in 2004, registering an increase by 135%.
Source: Zastrahovatel (25.07.2007)

Local holding company Eurohold Bulgaria could issue bonds worth up to EUR 220 mln over the next five years. A September 24 general meeting of shareholders will vote on a proposal to authorize the management to issue debt of up to EUR 200 mln over the next five years as well as to make a private placement of up to EUR 20 mln open to a designated circle of investors. It is no secret that Eurohold is in talks to expand abroad and acquire insurance assets and hence the bond placement provides an option to promptly raise the necessary capital, said Eurohold executive Asen Hristov. The EUR 20 mln debt will most likely be issued by the end of 2007, said Hristov. According to the shareholder meeting notice, the bond will have a five-year maturity. The placement process will be open to no more than 100 buyers. The shares from the recent Eurohold Bulgaria capital raise started trading on the local bourse on Wednesday. They closed 0.76 per cent down at BGN 5.19.
Source: Dnevnik (26.07.2007)

Yesterday the board of directors for Eurohold Bulgaria decided to call an extraordinary shareholders session on September 14th. The agenda suggests amendments of the regulations. The shareholders will discuss the bond issuance. The planned action suggests the private sales to fewer than 100 persons of bonds worth EUR 20 million and 5-year term. The accumulated resources will be invested in the construction of new showroom, taking the motor vehicles trade forward, as well as the acquisition of other companies. The agenda as well suggests that the board of directors will be empowered to get loans amounting no more than BGN 200 million and invest in the subsidiary Eurolease Auto, whose major shareholder is Eurohold. The resources will finance the leasing business of the company for the next 12 months.
Source: Zastrahovatel (27.07.2007)

Eurohold Bulgaria JSC received a permission from the Romanian insurance supervision for acquisition of majority package from the insurance company Asitrans Asiguràri. The integration of the company into the holding must finish till the end of 2007. The capital of Asitrans Asigurari will be increased and the new Board of Directors (which will include representatives of Eurohold) will be assigned during August 2007. The investments made by Eurohold Bulgaria JSC for the acquisition of over 75 % of the capital, which include payment of shares, increasing of the capital, software and operative integration of the company, as well as acquisition of majority package of the leasing company Asitrans Leasing till the end of 2007, are with EUR 12.5 mln. value. Asitrans Asigurari realized a premium income of EUR 14.5 mln. for the first six months of 2007, which is a 45 % growth compared to the same period during the previous year. Eurohold’s investment programme for Romania includes the acquisition of a representative office building in Bucharest, which would unite the activities of the insurance company, the leasing company and Euro Finance JSC. The investments, which would be made on the Romanian market in the insurance, leasing and financial segment for the period 2007 – 2010, will be over EUR 30 mln.
Source: Cash (27.07.2007)

Eurohold Bulgaria posted BGN 3.451 million net profit for the first half of 2007, the non-consolidated report of the company showed. No comparisons to the corresponding period of 2006 are possible due to the merger of Starcom Holding and Eurohold in the end of 2006. Eurohold Bulgaria's financial revenue amounted to BGN 4.014 million for the first six months of 2006. Dividend revenue accounted for BGN 3.180 million of the financial revenue of the company. Operating revenue stood at a mere BGN 168,000 for the first half of 2007. The equity capital of the company stood at BGN 95.915 million as at the end of June 2006, compared to BGN 50.606 million as at the end of 2006. Investments in subsidiaries totalled BGN 51.187 million as at June 30, 2007, compared to 25.823 million as at the end of 2006, the company said.
Source: Pari (01.08.2007)

Insurance company Euroins, which is part of Eurohold Bulgaria's portfolio, netted BGN 2.31 million profit for the first half of 2007, a 2.77-fold year on year increase. The premium income of the company amounted to BGN 26.319 million as at June 30, 2007. Euroins (70.01%), Etropal (77.14%), Espace Auto (100%), Health Insurance Company St. Nikolay Chudotvorez (50%), Euroloease Auto (53.34%), Scandinavia Motors (100%), Nissan Sofia (98%), Euro-Finance (98.53%), Eurolease Asset Leasing (100%), Eurolease Rent-a-Car (100%) and GPS Control (96.29%) are among the more attractive companies within the portfolio of Eurohold Bulgaria.
Source: Pari (01.08.2007)

By a decision dated to August 1, 2007 Sofia City Court registered the following change for Bulgarian Holding Company JSC: changes the business title of the company to Starcom Holding JSC
Source: Court registration (01.08.2007)

The turnover of the Bulgarian Stock Exchange (BSE) rose 20 per cent month-on-month to BGN 551 mln in Jul. UniCredit Bulbank accounted for almost half of the turnover, contributing BGN 258.7 mln in bourse transactions. Raiffeisenbank (Bulgaria) EAD was the runner-up with BGN 108.9 mln followed by the Balkan Advisory Company which thanks to clients like Swiss Julius Bear racked up BGN 94 mln in bourse transactions. The total market capitalisation added 9 per cent to BGN 22.6 bln in Jul.
Source: Dnevnik (07.08.2007)

The Board of Directors of Eurohold JSC - Sofia convenes an extraordinary general meeting of the shareholders on September 14, 2007 in Sofia. The subjects are as followed: 1. Alternation of the company statute, a project for decision – the extraordinary general meeting decides on company statute alternation according to the board of directors proposal; 2. Deciding on issuing bonds and granting the management the right to issue them, a project to be decided: – the extraordinary general meeting decides on issuing and partial offering for initial trade to less than 100 people( not by the public offering conditions according to the law of securities public offering) of an emission of ordinary, registered, dematerialized, interest-bearing, unconvertible, free transfering company bonds with total nominal value up to EUR 20 mln, including; the bonds have maturity 5 years from the issue date. The general meeting of shareholders grants the board of directors the right to decide on the total value of the bond loan in the limits pointed out in the decision, the total amount of the bonds in the emission, and the nominal value of a bond as well as deciding all the other details on bond emission including and not only the emission value of each bond, date of term of the bonds, the pay-off scheme of the bond loan including the free of charge period, interests pay-off, accounting methods, the way and the period of bond pay-off, way and period of pay-off of the principal, the start and final date, place, order and conditions for bond registering, type and value of the granted security, if any, insurance conditions, securing the pay-off for the principal and the interests sums, if any, and other.
Source: State Gazette (07.08.2007)

Eurohold Bulgaria will have three representatives in the Board of Directors for the Romanian Asitrans Asigurari. At the shareholders meeting, which took place 2 days ago, the 7 members of the managing board were elected and the new managers are Mr Kiril Boshov - chairperson of the managing board for Eurohold Bulgaria, Mr Asen Christov - chairperson of the supervision department for Eurohold Bulgaria and Mr Christo Tsenev, who worked for Xerox for 6 years, 3 - in Romania. The shareholders meeting voted for the augmentation of the company's capital from RON 12.1 million to RON 24.2 million (i.e. EUR 7.7 million). The capital augmentation is in view with the ambitions of achieving a greater market share. After the augmentation of the capital the share of Eurohold Bulgaria will come up to more than 75%. We remind you that Eurohold, part of which is Euroins Insurance Company, signed the acquisition agreement in th eend of June. The total investments Eurohold Bulgaria has put in the deal include the purchase of 75% of the capital of the Romanian company, the capital augmentation, software and operational integration of the new company, as well as the acquisition of Asitrans Leasing by the end of 2007, all investments came to EUR 12.5 million. Asitrans Asigurari is placed 14th out of all the 31 companies on the Romanian insurance market. The company is specialised in motor insurance. It was established in 1994and has 81 agencies in Romania, 7 of which are based in Bucharest. 470 employees are working for the company as well as 5 500 insurance brokers. Last year Asitrans Asigurari realised a premium of EUR 18.46 million, registering a rise by 140%. In 2006 the MTPL insurance market share of the company came to 3.6% as it sold 108 000 insurance policies. Motor insurance makes 83% of the company's premium. During the first three months of 2007 Asitrans Asigurari has gained a premium of EUR 8.33 million, i.e. a market share of 1.63%. Its 2007 objectives are the realising of a premium income of EUR 30 million and the opening of 20 new agencies. The 2006 premia of the Romanian non-life insurance market amounted EUR 1 308 billion having registered growth of 39%. The premium for the first 3 months of 2007 came to EUR 510 million keeping to the same growth pace of 40%. In comparison with the Romanian market, the Bulgarian non-life insurance market has grown by 12.5% during the first 3 months of 2007. The non-life insurance companies of Eurohold are now expected to have premia of BGN 130 million in 2007 and BGN 180 million in 2008.
Source: Zastrahovatel (10.08.2007)

Eurohold Bulgaria JSC Eurohold Bulgaria JSC is a company, created in 1995 and was later restructured after the union between Starcom Holding JSC and Eurohold JSC.The holding is involved in financial services, sales of cars, real estates and manufacture.
Source: Cash (10.08.2007)

Eurohold Bulgaria owns 38.41 % of the capital of Formoplast JSC – Kardzhali, announced the Bulgarian Stock Exchange yesterday. The acquisition of the shares is completed in 2 deals – Starcom Consult sold 15 932 shares for BGN 238 980. And Formoplast 98 JSC sold 69 910 shares for BGN 349 550. In the end of June Eurohold Bulgaria owns 48.87 % of the capital of Formoplast JSC, shows a reference to the six-month statement.
Source: Monitor (13.08.2007)

Eurohold Imoti, part of Eurohold Bulgaria structure, has bought a site in Veliko Tarnovo comprising an area of 7,500 sq. m, where a modern automotive sales and service complex of Nissan Sofia, the dealer of Nissan, Renault and Dacia, will be built on. The transaction value is Euro1.5 million. The project includes the construction of a show-room, a service shop and a tinsmith's workshop complying with the Renault Nissan Alliance standards, a shop for spare parts, administrative offices, parking places for 60 new cars etc. The complex will start work in the autumn of 2008. By 01.08.2007, Nissan Sofia, part of Eurohold Bulgaria portfolio, has placed 1,000 new cars.
Source: Monitor (21.08.2007)

Eurohold Imoti, part of Eurohold Bulgaria, will invest EUR 1.5 million in the setting up of an automobile sales and repair complex for the Nissan, Dacia and Renault makes in Veliko Tarnovo. Nissan Sofia, the official dealer of the three makes for Bulgaria, is part of Eurohold Bulgaria's portfolio. The investor has already acquired a 7.500-sq. m plot. The project envisages the setting up of a showroom, a car service and repairs shop, a spare parts outlet, offices and parking space for 60 new vehicles. The complex is slated for completion in the autumn of 2008. Nissan Sofia sold 1,000 new vehicles in the period January to July 2007.
Source: Pari (21.08.2007)

Eurohold Bulgaria has raised its stake in Formoplast to 87.28% through the acquisition of 38.41% in the Kardzhali-based plastic products maker. Eurohold also holds 1.21% of Formoplast's capital through connected persons. Eurohold's stock price appreciated by 0.17% to an average of BGN 6.00 per share on Tuesday. A total of 39,246 shares in the company changed hands on the day. Formoplast's stock price remained unchanged at BGN 19 per share after 104 shares in the company were traded on the day.
Source: Pari (22.08.2007)

Evrohold Imoti SPLTD, a part of Evrohold Bulgaria JSC, bought 7.5 decares in Veliko Turnovo and a modern trade and maintenance complex of Nissan Sofia, a dealer of Nissan, Renault and Dacha automobiles, will be built. The deal is worth EUR 1.5 mln. The project plans the construction of a showroom fully equipped according to the Renault Nissan Alliance standards, a service-station and a tinsmith department, a spare parts shop, administrative offices, construction of a 60 parking spots for new automobiles and other. The copmplex is wxpected to open in the autumn of 2008. Towards 1 August 2007 Nissan Sofia, a part of Evrohold Bulgaria, sold 1,000 new cars.
Source: Yantra - Veliko Tarnovo (22.08.2007)

Formoplast, an Eurohold company, will seek shareholder approval at an Oct 10 general meeting to tap its reserve funds and raise capital to 3.8 mln levs from 223,465 levs at present. The company will also perform a share split with each shareholder receiving 16 new shares for each old share. The free float of the company is 11.5% and there are no plans to increase it, said Eurohold which owns 88.5% of the company.
Source: Dnevnik (23.08.2007)

There are no real investment banks in Bulgaria at this point, neither Bulgarian nor foreign. Specialists attribute it to the small market, on which a large-scale institution, such as an investment bank, will hardly be successful in the competition of investment intermediaries and investment intermediary services offered by commercial banks. A change seems to be underway. The willingness of Elana and Eurofinance investment intermediaries to be transformed into investment banks, has been widely discussed recently. Intercapital Markets have also indicated that they have similar intentions. Eurofinance, has BGN 14 million subscribed capital, which gives good grounds for the company to be transformed into an investment bank, Assen Hristov chairman of the management board of Eurohold, which owns Eurofinace, told the Pari daily. The Bulgarian National Bank (BNB), however, has been obstructing Eurofinance's attempts to obtain an investment bank license, Hristov said. There are no major differences between an investment bank and an investment intermediary. The main difference is the fact that the bank is accountable to the BNB, while the investment intermediary is accountable to the Financial Supervision Commission (FSC). Another difference is the requirement for subscribed capital. An investment bank has to have at least BGN 10 million capital, while the capital of the investment intermediary should be at least BGN 1.5 million. The major advantage of the banks is that they can collect deposits, whereas investment intermediaries are not allowed to do so. Most banks in Bulgaria are owned by foreign banks, which have their own investment units. Bulgarian banks prefer to collect resources in the country and transfer them to the foreign units, which subsequently manage and invest them.
Source: Pari (30.08.2007)

Eurohold Bulgaria posted BGN 6.211 million consolidated net profit for the first half of 2007. The result is incomparable to the corresponding period of 2006, as the company has been operating in its present form since October 2006. Eurohold Bulgaria has generated BGN 91.360 million consolidated revenue since the beginning of 2007. The strong financial results may be put down to the synergy developed between the automobile and the financial units of the company. The premium income of insurer Euroins went up by 35% year on year to BGN 26.319 million. Euroins' profit for the first half of 2007, marked a 177.6-percent year on year increase. Investment intermediary Eurofinance, which is also part of Eurohold Bulgaria, posted BGN 707,000 net profit for the first six months of 2007, a five-fold year on year increase. Eurohold Bulgaria's stock appreciated by 2.44% to an average of BGN 6.71 per share on Thursday.
Source: Pari (31.08.2007)

Eurohold Bulgaria reported consolidated profit of BGN 6.211 million for the first six months of 2007. The consolidated revenue of the holding since the beginning of 2007 is BGN 91.360 million. The strong financial results may be put down to the synergy developed between the automobile and the financial units of the company. Eurohold Bulgaria's stock appreciated by 2.44% to an average of BGN 6.71 per share on Thursday.
Source: Monitor (31.08.2007)

According to the consolidated report on the stock exchange Evrohold Bulgaria has BGN 6.2 mln profit for the six months. The consolidated income from the year start is BGN 91.34 mln.
Source: Standart (31.08.2007)

The BG40 index of the most traded stocks on the Bulgarian Stock Exchange (BSE) closed at 420.76 points on Friday adding 10.88% to its value in August. Orgachim and Odessos Shiprepair Yard were the major driving force behind the strong performance of the index in August. Trade in Orgachim's stock resumed after a suspension which had continued for month and a half. The price of the stock appreciated steeply propelling the index to new all-time highs. Odessos' stock, which appreciated from BGN 297.06 to BGN 319.66 per share over the last month, affected strongly BG40's performance towards the end of August. Pari daily's Bullish Bearish Sentiment (BBS) index shows bullish approach towards the performance of the BG40 in September. A total of 72% of the brokers from the leading investment intermediaries predict an upward movement. Some 28% of the respondents predict that the index will lose part of its value during the month.
Source: Pari (03.09.2007)

Eurohold Bulgaria, which is managed by Assen Hristov corrected the commercial offer to the minority shareholders of Formoplast JSC – Kardzali. The new project’s price is BGN 20.47, not BGN 19.59. Eurohold holds 197 754 shares of Formoplast, which is equal to 88.49 % of its capital. The number of the shares – subject to the commercial offer – is 25 711, the term of the offer is 28 days, counted from the day of publication in 2 central daily newspapers.
Source: Monitor (10.09.2007)

Despite several delays, the shares of Devin AD were finally listed for secondary trade on the Bulgarian Stock Exchange after the Financial Supervision Commission (FSC) entered the company in its registers. The company will place an issue of BGN 17.891 million, distributed in the same number of shares of BGN 1 each. The mineral water bottler raised its capital from BGN 14.891 million to BGN 17.891 million through the issue of 3 million new shares with a par value of BGN 1. The subscriptions that were received during the IPO were approved at a price of BGN 6.10. During its Thursday's meeting, the FSC also approved three tender offers. Sofstroy offers to buy shares in Zavodski Stroezhi PS of Pernik at BGN 36.05 per unit. Mel Holding will pay BGN 9.40 per share in Svinevadstvo Preslavets. The commission also gave to green light to Eurohold Bulgaria's offer to buy shares in Formoplast at BGN 20.47.
Source: Pari (14.09.2007)

Petrol is the local champion The biggest Bulgarian companies reported revenues of BGN 3.65 bln Petrol JSC - Sofia is the local leader by revenues among the Bulgarian companies, showed the H1 reports of the public companies. Bulgaria’s biggest fuel distributor generated BGN 565 mln for the first six months, reporting a drop of 13% y/y. Company’s revenues exceed its market capitalization totaling BGN 502 mln. Second ranks BTC, generating slightly less revenues of BGN 502 mln. The growth compared to June 2006 is just 0.1%. The top three includes also Chimimport reporting BGN 373 mln. The growth here, however is record-high – over 120 percent. Very soon the company will become the local top one by capitalization after the former leader BTC is delisted from trade. The top 20 public companies reporting the highest revenues have collected a total of over BGN 3.65 bln, the rating prepared by profit.bg revealed. Kremikovtzi, Bulgartabac, Sopharma, Synergon Holding, First Investment Bank, Alcomet, and Neochim also ranked among the top 10. Besides Petrol, the only one company reporting revenues reduction is Kremikovtzi. The metallurgy plant reported BGN 363 mln, which is 22% less than the results in 2006. The second decade includes Toplivo, OTsK, DZI, Blagoevgrad BT, Bulstrad, Drujba Glass Works, Eurohold, Doverie - United Holding, Kaolin, and Orgachim.
Source: Standart (14.09.2007)

Three auction offers were approved by the Financial Supervision Commission – they are for Industrial Constructions-PS-Pernik JSC, Svinevadstvo-Preslavetz JSC and Formoplast JSC. Only Formoplast will not be removed from the register after the auction offer. It was made by Evrohold Bulgaria after it acquired 38.41 percent of the company and now owns 88.5 percent. According to the law, after a shareholder acquires two thirds of the votes in general meeting, it has to make an auction offer. Evrohold offers BGN 20.47 per share and the offer is for 25,711 securities owned by the other shareholders.
Source: Dnevnik (14.09.2007)

Yesterday at the extraordinary shareholders meeting of Eurohold Bulgaria voted in favour of the regulations amendments allowing the holding to issue bonds in accordance with the Law on commerce. The company is to issue bonds worth EUR 20 000 000 which are to be initially sold to fewer than 100 persons. The date of payments of the bonds in after a 5-year period. The resources the bonds trade is to accumulate will invested in new motor cars showrooms, expansion of business and augmentation of the capitals of the subsidiaries. The issue of empowering Eurohold Bulgaria to sign contracts with Bulgarian and/or foreign banks for the banking provision of the loans its subsidiary Euro Lease will be getting will be discussed at the following general meeting as the negotiations with the financial institutions are not concluded yet.
Source: Zastrahovatel (17.09.2007)

Etropal JSC – a part of Eurohold Bulgaria JSC has a capital growth of BGN 2 900 000, the company announced. The decision was taken on September 10th 2007 from The General meeting of the shareholders of Etropal. There will be issued new 2 900 000 registered dematerialized shares with nominal value of BGN 1 each. In this way Etropal has 93.71 % participation on Eurohold Bulgaria JSC. Etropal JSC has announced 80 new job positions in connection with the expansion of its activity since the beginning if the year. Over 300 people work at the company now. The company issued new bond issue under the conditions of private offering on August 8th. The amount of the issue is EUR 2 000 000 and its term is 60 months.
Source: Monitor (17.09.2007)

The shareholders of local holding company Eurohold Bulgaria have granted the management discretion to issue debt of up to 20 mln euro, the company said in a filing with the stock exchange. The proceeds will be spent to raise the capital of subsidiary companies and for investment in the automotive sector. The private placement of the five-year bond will be limited to less than a 100 buyers, said Eurohold. The holding company said its subsidiary Etropal raised its capital from 1.1 mln to 4 mln levs last week. Eurohold's equity share rose from 77% to 94%. In August, Eurohold hiked the capital of its health insurance fund Sveti Nikolai Chudotvorets from 1 mln to 2.3 mln levs. The last investment in the automotive sector made by Eurohold was the purchase of a land plot in Veliko Tarnovo for a Nissan, Renault and Dacia showroom and auto repair center. The 1.5 mln euro outlet should open for business within a year.
Source: Dnevnik (17.09.2007)

The shareholders of Evrohold Bulgaria took decision for issuing and private offering of bonds for EUR 20 mln, said the holding company managed by Mr. Asen Hristov. The decision was taken at the General Meeting of the shareholders of the holding. The bond emission would not be public according to the Public Offering of Securities Act as the initial sale would be to not less than 100 people. The bonds that the Managing Board will issue will be ordinary, registered, interest-bearing with maturity of at least 5 years.
Source: Monitor (18.09.2007)

The general meeting of Etropal JSC, 77 percent of the capital owned by Evrohold Bulgaria, made a decision to raise the company capital from BGN 1.1 mln to BGN 4 mln by issuing 2.9 mln registered dematerialized shares with nominal value of BGN 1. The new capital is registered by Sofia City Court and the majority shareholder now owns 93.71 percent of the shares. From the beginning of the year the company, specialized in the production of medical and surgeon equipment and orthopedic equipment, has 80 new employees and currently over 300 people work there. According to the investments plan Etropal issued a new emission of bonds in August, in private offering conditions, worth EUR 2 mln and a pay-off term of 60 days.
Source: Banker (18.09.2007)

Bulgaria's Kremikovtzi again tops Pari daily's Top 50 ranking by sales revenue. The metallurgical plant held the first place from 2002 until 2004 before it was sold to Pramod Mittal, the Indian businessman. Nevertheless, Kremikovtzi continues to be the biggest loss maker, with a total loss of BGN 21.47 million for the first half of 2007. The plant improved its results from last year but it is still pestered by problems, including rumours of pending closure. Second in sales is the Bulgarian Telecommunications Company. Despite the slight drop in revenue for the first half of the year, the telecom remains the most profitable company on the Bulgarian Stock Exchange. Petrol is third in the ranking. The fuel distributor increased its sales on the back of rising oil prices on the world market. But it is its profit growth that is the most striking: more than 200%. Bulgartabac Holding and Synergon Holding are ranked fourth and fifth with a narrow difference in results. Chimimport continues climbing up the list with more than 100% sales growth for the first half of 2007. The profit of the holding surged by nearly 2,000% year on year.
Source: Pari (19.09.2007)

The first place in the ranking of holdings is held by Bulgartabac Holding, the tobacco giant. The net sales revenue of the company reached BGN 167.375 million for the first half of 2007 on a consolidated basis. It is followed by Synergon Holding with net sales totalling BGN 151.517 million. The third place is held by Chimimport: its revenue is just a notch below BGN 147 million. Synergon's retreat from its top position for 2006 is due to the 9-percent increase in net revenue posted by Bulgartabac. For the same period Synergon's sales went up by 6%. Chimimport's net sales jumped by the record 119%, year on year.
Source: Pari (19.09.2007)

Bulgarian medical equipment maker Etropal will raise its capital from BGN 4 million to BGN 5 million, it emerged after a general shareholders' meeting on September 18. The company will issue 1 million book-entry voting shares with a par and issue value of BGN 1. The new shares will be distributed among shareholders in proportion to their holdings just before the operation. One new share will be offered for four shares held now. As much as BGN 1 million of the retained profit for 2006 and previous years, which amounts to BGN 1.048 million, will be used for the capital raise. The remaining BGN 48,651 will be allocated to the reserve fund, the shareholders decided. Meanwhile it emerged that Etropal is primed for a public status. By this month's end the company will submit a public offering prospectus to the Financial Supervision Commission. The future public company is part of Eurohold Bulgaria, which holds 97.31% of the capital.
Source: Pari (20.09.2007)

Chimimport JSC is the most liquid company on the Bulgarian Stock Exchange once again, and Kaolin is among the first five for the first time, the stock-exchange bulletin from September shows. The capitalization of the bond market as to September 30th is over BGN 27.87 milliards – 150% growth for one year. BTC is still the company with the highest market evaluation – BGN 3.09 milliards and Chimimport’s is BGN 2.12 milliards. First Investment Bank is on third place with BGN 1.474 milliards.
Source: Dnevnik (04.10.2007)

Evrohold Bulgaria was granted a permition by the Rumanian insurance supervision to acquire a majority stake of the insurance company Asitrans Asigurari. The shares have already been transferred as well as signing Evrohold as the majority shareholder of the insurer. The integration of the Rumanian company in the holding must finish by the end of 2007. Significant investments in information technologies will be made as well as opening new offices in Bukureshti and in the rest of the country.
Source: Standart (09.10.2007)

Evrolijiz Auto JSC, part of Evrohold Bulgaria JSC issued fifth consecutive bond emission, announced BSE-Sofia. The bond loan is worth EUR 10 mln divided in 10,000 bonds with nominal value of EUR 1,000 each. Unicredit Bulbank has been chosen for an agent of the bondholders of the emission. All payments of capital and the interests are managed by Central Depository JSC. Evrolijiz Auto is obliged to register the bonds for trade on a regulated securities market (BSE-Sofia) in no more than six months from issuing
Source: Dnevnik (09.10.2007)

Bulgarian medical equipment maker Etropal submitted a prospectus for secondary offering of shares to the Financial Supervision Commission, the company said. A general shareholders' meeting decided in September to raise Etropal's capital from BGN 4 million to BGN 5 million by using the retained profit for previous years. The company will issue 1 million new shares with a par and issue value of BGN 1, which will be distributed among shareholders in a 1:4 ratio. The would-be public company is part of Eurohold Bulgaria, which holds 97.31% of the capital. The holding is expected to reduce its stake by offering part of its shares on the stock exchange. However, Eurohold will keep its majority interest. Etropal has seven subsidiaries, including a joint venture in Italy.
Source: Pari (10.10.2007)

Etropal JSC – a part of Eurohold Bulgaria JSC introduced a prospect for secondary public supply of securities in the Financial Supervision Commission on October 8th, 2007. After registering the trade issue of BFB – Sofia, Eurohold Bulgaria intends to limit its participation in the enterprise by selling some of its shares. They will keep their majority interest in mid-term plan, though. A reference to DAKSI shows that Eurohold Bulgaria has 93% of the capital of the enterprise for manufacture of medical and surgical equipment.
Source: Banker (10.10.2007)

The shareholders of Eurohold Bulgaria will consider setting up a new company to consolidate the holding's insurance business at an extraordinary general meeting on October 27, 2007. According to the plans, Euroins Insurance Group will unite the insurance operations of Euroholding Bulgaria. The shares of Sofia-based insurer Euro Ins, health insurance company Sveti Nikolay Chudotvorets, and Romania's EuroIns Romania (Asitrans Asigurari) will be transferred into the new company. The move is aimed at making Eurohold's reports and insurance operations more transparent, the chairman of the holding's management board, Kiril Boshov, told the Pari daily. While the consolidated reports at present only show the total income from insurance, car sales, leasing, production and real estate, the report of the insurance holding will detail the income, profit and total insurance indicators of the group, Boshov added. Besides business consolidation, the new company will also help carry out the holding's investment strategy, which includes acquisition of insurance companies in the region. In the medium term, Eurohold plans to have a 4- to 5-percent market share in general insurance in the Balkans. The restructuring will also facilitate the access to financing for future deals, Boshov said.
Source: Pari (16.10.2007)

Eurohold Bulgaria will have a General meeting of the shareholders on November 27th 2007 when the establishing of a new subsidiary - EuroIns Insurance Group - will be under discussion. The new insurance company will consolidate the insurance bi\usiness of the holding. The capital of EuroIns Insurance Group will be formed with the shares contribution from EuroIns Bulgaria, EuroIns Romania (Asitrans Asigurari) and St. Nicholas Thaumaturgus Health Insurance Company. EuroIns Insurance Group will have all the features of a strategy investor and will accelerate the accomplishment of a 4-5% market share on the Balkan non-life insurance market. EuroIns IG will strive to become one of the most important insurance groups in the Balkan region. EuroIns Insurance Group will manage insurance companies only and thus will meet the more rigid supervisory regulations. The insurance supervisory bodies in EU tend to allow the investors to hold the majority share if he former are doing business in the insurance field only and not in the other financial sectors. The new company will make audits easier and will make Eurohold Bulgaria's accounts transparent. EuroIns Insurance Group will be preparing consolidates financial records which will include the accountings of its subsidiaries and it will thus provide the investors and auditors with detailed information. As a single unit EuroIns Insurance Group will more easily have access on the international capital markets when accumulating resources for future acquisitions. The General shareholders meeting of Eurohold Bulgaria will as well discuss the holding's investment strategy in the insurance field.
Source: Zastrahovatel (16.10.2007)

The Romanian insurance company of Asitrans Asigurari, which has been owned by Eurohold Bulgaria for some months now, will officially change its name to EuroIns Romania. The decision will be made at the General meeting of the company's shareholders appointed for the end of November 2007, INSURANCE.BG was informed. The shareholders are as well expected to approve the reduction in the number of the managers for the Romanian subsidiary - from 7 to 5. The three Bulgarian representatives - the chairperson of the Managing Board for Eurohold, Mr Kiril Boshov, the head of the holding's supervisory council, Mr Asen Christov and Mr Christo Tsenev - the will retain their posts. The other managers will be the Romanians Mr Bogdan Stan and Ms Christina Basgan, and Mr Stan will be assigned as CEO. Eurohoild Bulgaria has already made its capital augmentation deposit of approximately EUR 4 million and thus increasing its share on EuroIns Romania (Asitrans Asigurari) to 70%. We remind you that EuroIns was the first Bulgarian insurance company to start doing business abroad. Officials working for the Romanian subsidiary of Eurohold Bulgaria said that the business done on foreign markets is allowed by EU legislation allowing doing business in other countries as will as the acquisition of foreign companies. In accordance with the intentions of the Holding announced today, the insurance business will be done by a new body - EuroIns Insurance Group. The capital of the new company will be formed with the shares contribution from EuroIns Bulgaria, EuroIns Romania (Asitrans Asigurari) and St. Nicholas Thaumaturgus Health Insurance Company. The establishing of the Group will be approved at the extraordinary shareholders meeting on November 27th 2007. The expansion strategy suggesting the acquisition of new insurance companies in the region will be discussed as well, as the objective is Eurohold Bulgaria to become the major shareholder in 4-5 of the Balkan-based insurance companies.
Source: Zastrahovatel (16.10.2007)

Local holding company Eurohold Bulgaria said it will seek shareholder approval to bundle its insurance businesses into a single corporate entity. An extraordinary meeting of the company's shareholders is scheduled for November 27. The new entity, EuroIns Insurance Group, will take over the management of Eurohold companies Euorins, health insurer Sveti Nikolai Chudotvorets and Asitrans Asigurari, the recently acquired Romanian general insurer. Eurohold will transfer its equity holdings in the three companies to EuroIns Insurance Group which will be incorporated as a holding subsidiary. The revamped structure of the holding's insurance business will better position it to pursue a 4-5% share of the general insurance market in the Balkan region over the mid-term. It will also make it easier to secure regulatory approval for acquisitions abroad since industry oversight bodies are generally better disposed towards take-overs involving pure-play insurance businesses and not holding companies active in more than one industries.
Source: Dnevnik (16.10.2007)

GPS Control, a subsidiary of Eurohold Bulgaria, has opened its first representative office in Milan. The new office will serve as a coordinating unit between Italian distributors and the headquarters in Sofia. In Italy, GPS Control will offer the FIXY system, which provides complex servicing, control and monitoring of car fleets. The company has already launched a special server on the Italian market, as well as several test cars, Eurohold Bulgaria said. The company expects that in 2008 the increase in sales in Italy will be three- to five-times as big as that in Bulgaria. GPS Control plans to open offices in Rome and Greece next year. It will partner with another subsidiary of Eurohold, Euroins, to offer complex insurance packages on the Italian market. On the stock exchange, Eurohold Bulgaria cheapened by 2.17% to an average of BGN 8.10 on Wednesday, in line with the overall bearish trend. Euroins's shares dropped by 1.21% to BGN 17.94.
Source: Pari (18.10.2007)

GPS Control, active in the field of GPS control applications, fleet security and logistics, has commenced a project to achieve greater exposure on the European markets, parent company Eurohold Bulgaria said in a filing with the Bulgarian stock exchange. Last week, GPS Control opened an office in Milan, Italy. The main task of the office will be to co-ordinate the operation of the Italian distributors with the management decisions taken at Sofia headquarters. In Italy, where an office in Rome is planned as well, GPS Control will offer its FIXY solution for fleet tracking and management. The company will be co-operate closely with insurer Euroins, another Eurohold company, in providing comprehensive and competitively priced insurance packages on the Italian market.
Source: Dnevnik (18.10.2007)

Sofia City registered the capital increase of Eurolease Auto JSC, a part of Eurohold Bulgaria. The capital is raised from BGN 4,867,200 up to BGN 9 mln through the issue of 4,132,800 new registered materialized indivisible non-preferred voting shares with the par value of BGN 1 each. The Court also registered changes in company’s management delisting Eurohold Bulgaria as a member of then Board of Directors.
Source: Banker (12.11.2007)

Eurohold Bulgaria finalised the acquisition of 49.82% of the capital of Plastchim-T. The rest of the shares are owned by the managers and employees of the company which is the largest manufacturer of BOPP foil and plastic bags. Plastchim-T is the third company operational in the plastics industry whose shareholder is Eurohold Bulgaria. The other two companies are Formoplast - manufacturing plastic household goods - and Etroplast - manufacturing medical plastic supplies. Plastchim-T accumulated incomes of BGN 38 million for the first nine months of 2007 (i.e.70% increase in comparison with the same period of last year) and net profit of BGN 1.6 million (i.e.80% increase). The company is expected to generate sales incomes of BGN 52 million and net incomes of BGN 2.2 million. With the acquisition, Eurohold Bulgaria will enhance the results in its manufacturing business and its companies are expected to generate sales incomes of BGN 75 million and net profit of BGN 3.6 million. As part of Eurohold Bulgaria, Plastchim-T will have better access to capital markets and banking finance augmenting its investment programme to BGN 20 million and the triple increase of its capital within the next 24 months.
Source: Zastrahovatel (14.11.2007)

Local holding company Eurohold Bulgaria said it has acquired a 49.82% stake in Plastchim-T, a producer of polypropylene bags and BOPP film. The rest of the company equity is controlled by employees and managers. Eurohold said the acquisition will be a boon to its industrial manufacturing business which is expected to record sales of 75 mln and net profit of 3.6 mlnlevs in 2007. It already controls two manufacturers of plastic products, Kardjali-based Formoplast and Etropole-based Etropal. Plastchim-T employs over 800 staff at production facilities in Varna and Tervel. The company has budgeted 20 mln euro for a two-year investment program that should triple output capacity.
Source: Dnevnik (14.11.2007)

Eurohold Bulgaria AD-Sofia, BSE code - EUBG, has filed with BSE-Sofia additional information regarding the acquisition of 49.82% of the capital of Plastchim-T AD. The entire information is posted on the BSE-Sofia web site at: http://download.bse-sofia.bg/prospekt/EUBG/
Source: Banker (15.11.2007)

Eurohold Bulgaria has raised its stake in its Romanian insurance unit Euroins Romania to 84.7%, the holding company said. The formal procedure on the consolidation of Eurohold Bulgaria's majority stake in Euroins Romania ended on November 14. Eurohold Bulgaria initially acquired 75% of the capital of the Romanian insurer, named Asitrans Asigurari at the time. The name of the company was subsequently changed to Euroins Romania. The capital of the Romanian insurer amounts to 24.2 million Romanian lei. Eurohold Bulgaria offers 1.4 million shares, accounting for 28% of the capital of its subsidiary Etropal, at a closed auction, which will be held on the Bulgarian Stock Exchange on Monday. The minimum price is set at BGN 7.95 per share. Eurohold Bulgaria has also finalised the acquisition of 49.82% in Plastchim-T, which is the largest producer of folio and polypropylene bags in the Balkans. Eurohold Bulgaria's stock price depreciated by 2.03% to an average of BGN 7.22 per share on Friday.
Source: Pari (19.11.2007)

The formal procedure of Eurohold Bulgaria's consolidating its majority share in Euroins Romania was concluded. After the 100% augmentation of the capital of the Romanian insurance company (to the amount of RON 24 200 000) Eurohold Bulgaria already owns 84.74% of the Romanian insurer's capital.
Source: Zastrahovatel (19.11.2007)

Local holding company Eurohold Bulgaria said its stake in Romanian insurer Euroins Romania increased to 84.74% after the capital raise performed last week. The insurer doubled its capital to 24.2 mln lei or 13.687 levs. Eurohold bought Asitrans Asigurari in June 2007 and later renamed it to Euroins Romania. The Eurohold shareholders will vote November 27 on a proposal to merge the insurance divisions of the holding. In addition to the Romanian and Bulgarian arms of the same name, the group will also join the St Nikolai Chudotvorets health insurance company. The new structure will be called Euroins Insurance Group.
Source: Dnevnik (19.11.2007)

Eurohold Bulgaria sold 21.34% of Etropal's capital at a closed auction on the Bulgarian Stock Exchange on Monday, November 19, the holding said. Investors bought 1,067,185 shares at an average price of BGN 8.07 per share. The total amount Eurohold received from the auction exceeds BGN 8 million. At this stage the holding does not plan a secondary procedure to auction the unsold 332,000 shares. If a decision is taken for a new auction, the minimum price will be set on the basis of the market price but it will not be below BGN 7.95 per share.
Source: Pari (20.11.2007)

Eurohold Bulgaria booked BGN 10.55 million consolidated net profit for the first nine months of 2007. The holding company netted BGN 6.21 million profit for the first half of the year alone. The operating revenue of the company totalled BGN 187.82 million for the period January to September 2007, while its total costs amounted to BGN 176.6 million. Eurohold Bulgaria generated BGN 115 million revenue and booked BGN 6.8 million profit from its financial operations in the period. Automotive operations accounted for BGN 58 million and BGN 1.8 million of the company's revenue and profit, respectively. Eurohold Bulgaria forecasts BGN 330 million revenue for the entire 2007. The stock of the company appreciated by 1.52% to BGN 6.69 per share on Thursday.
Source: Pari (23.11.2007)

Local company Eurohold Bulgaria said it has added to its stake in local real estate investment trust Bulland Investments. Eurohold subscribed around 3.2 mln new shares from the recent Bulland capital raise, adding them to the 417,850 Bulland shares it already owned. The holding company now owns just over 25% in the REIT and has no plans for the stake to exceed 30%. The Eurohold portfolio currently includes also Eurohold Imoti and Eurohotels.
Source: Dnevnik (26.11.2007)

Three of the four indexes of the Bulgarian Stock Exchange (BSE) closed Monday's session with gains. The Sofix blue-chip index advanced by 0.71% to 1,777.04 points. The broader BG40 index of the most traded stocks appreciated by 1.23% to 548.1 points. The BGTR30 index of the best performers in total return closed 0.58% up at 1,130.7 points. The BGREIT index of real estate investment trusts was the only loser among indexes slipping by 0.56% to 103.25 points. A total of 12 of Sofix's constituents ended the day with gains. Sopharma became the most traded stock on Monday after 204,730 shares in the company changed hands on the day. The stock appreciated by 0.57% to BGN 8.88 per share. Chimimport's stock appreciated by 3.7% to BGN 16 per share. Monbat, Aroma and Kaolin were also among Monday's gainers on BSE. Central Cooperative Bank's stock price dipped by 0.84% to an average of BGN 10.55 per share. Forucom Real Estate Fund was BSE's biggest loser on Monday. The stock price of the company went down by 17.27% to BGN 1.15 per share. Chimco, First Investment Bank and Todoroff were also among BSE's losers on Monday.
Source: Pari (04.12.2007)

Last night Eurohold celebrated its twelfth birthday in Hall 6 of the National Palace of Culture. And Eurohold Bulgaria made its first year - the company which came into being with the merger of Starcom Holding and Eurohold. The investment portfolio of the holding included some of the most dynamically developing economic sectors - financial services, motor cars sales, real estate and manufacture. The incomes of the company for the first nine months of 2007 amounted BGN 188 million and the net profit - BGN 10.6 million. The Finances Department generated most of the incomes - BGN 155 million and profit of BGN 6.8 million. The newly acquired Romanian insurance company - Euroins Romania, former Asitrans Asigurari - is the last to join the Finances Department. In comparison with the end of 2006 when the assets of the Holding amounted BGN 177 million, by September 30th 2007, the assets increased to BGN 333 million,. The main objective of the company is a 10% market share in the fields of non-life insurance, supplementary old age provision, motor cars sales and leasing. The growth is to be accomplished not only on the Bulgarian market, but on the foreign markets, too. "Intro" string quartet entertained the guest and the CEO of the Holding, Mr Assen Christov, presented the 2008 calendar whose pictures were taken by one of the most popular Bulgarian professionals, Mr Temelko Temelkov.
Source: Zastrahovatel (14.12.2007)

Euroins Insurance Group, a subsidiary of Eurohold Bulgaria, will raise its capital from BGN 1 million to BGN 126.14 million. The company will issue a total of 125.14 million shares with BGN 1 par value each. The capital of the company will be raised only under the condition that all new shares are subscribed by Eurohold Bulgaria. A total of 110.14 million of the newly-issued shares will be subscribed by Eurohold Bulgaria against a non-cash payment. It represents 6.8 million shares of the capital of insurance company Euroins and 1.15 million shares of the capital of St. Nikolay Chudotvorez health insurance company. The remaining 15 million new shares will be paid for in cash.
Source: Pari (19.12.2007)