The Annual General Meeting of Shareholders of ELANA AgroCredit will take place on 23 February 2015, 10 h. at the company’s office. According to the suggested agenda, 90% of the 2014 earnings and the undivided profit from previous years will be distributed as dividend to the shareholders. The gross dividend per share is to be BGN 0.0623.
ELANA AgroCredit has generated annual profit in 2014 at the amount of BGN 339 706,61. The total amount for dividend distributions is BGN 318 918,01.
As of 31 December 2014 ELANA AgroCredit has a total of 134 shareholders and 22 of them are institutional investors.
All documents for participation in the Annual General Meeting are published in Bulgarian.
Those with the right to vote at the General Meeting, should have purchased their shares 14 days before 23 February at the latest. Shareholders who are in possession of company shares 14 days after the General Meeting, can receive the dividend decided on that date.
Two successful years
BGN 12.9 mln. was invested in farmland purchases for financial leasing contracts of agricultural producers by 31 December 2014. The company started with the first leasing contract end of May 2013. ELANA AgroCredit has financed farmland deals for 1,800 ha in 20 regions of the country.
All payment installments have been collected at 100%, which proves once again the stable business model of the company – the purchased farmland within the leasing contracts is the very collateral that ensures no loss can be generated if the borrower stops paying. The crucial factors for successful implementation of the model are the competence for making the right choice of land and correct assessment of the borrower’s business.
Approx. EUR 9 mln. attracted for 2 years
ELANA AgroCredit was listed on the Bulgarian Stock Exchange in 2013 – the trading started 22 November 2013. The company raised BGN 4.4. mln. in an IPO, which is still considered one of the largest issues in the last 5 years. Therefore it was awarded The Best IPO in 2013 by the Bulgarian Stock Exchange.
In 2014 the company raised debt funding by an agreement with the European Bank for Reconstruction and Development (EBRD) for up to EUR 5 mln.to finance land purchases of farmers with leasing contracts. In the end of 2014 ELANA AgroCredit got a BGN 3 mln. loan from Societe Generale Expressbank.
In Q1 ELANA AgroCredit plans to raise capital via public offering of 15 346 305 new shares. The prospectus for the offering was approved by the Financial Supervision Commission in the autumn last year. The offering will be considered successful if 5 mln. new shares are subscribed.