Home > Press > A transaction concluded by the subsidiary "Pharmalogistika" AD under Art. 114, para. 3 of the Law on Public Offering of Securities requiring prior approval of the public company

A transaction concluded by the subsidiary "Pharmalogistika" AD under Art. 114, para. 3 of the Law on Public Offering of Securities requiring prior approval of the public company

9 June 2023

Sofia, Bulgaria, June 9, 2023 - Pursuant to the requirements of Article 100t of the LPOS and in conjunction with Article 114, par. 9 of the LPOS, "Sopharma" AD hereby informs that following a request made to the parent company "Sopharma" AD by the subsidiary "Pharmalogistika" AD and the consent given by the Board of Directors on 06.06.2023, today the subsidiary concluded the following transaction falling within the scope of Art. 114 para. 3 of the Securities Act:

 

  1. 1.                   "Pharmalogistika" AD, UIC 130959211, as a landlord, concluded a contract for the lease of an investment property with address in the town of Sofia, blvd. Rozhen № 16, with a total rental area of 2 985.25 sq.m. for a monthly rental price of BGN 17 190 (seventeen thousand one hundred and ninety) excluding VAT for a period of 3 /three/ years to "Sofprint Group" AD, UIC 175413277.

 

A) Interested parties participation:

Tsvetanka Zlateva and Boris Borisov are members of the Board of Directors of "Pharmalogistika" AD and of "Sofprint Group" AD - grounds for interest under art. 114, par. 7, item 3 of the Law on Public Offering of Securities.

 

B) Transaction Value:

The market price of the rented property has been determined in accordance with a market valuation prepared by an independent valuer under Article 5 of the Independent Valuers Act. According to the market valuation so prepared, the monthly rental market price of the real estate is BGN 17 190 excluding VAT.

 

C) Assessment of the applicability of the conditions under Art. 114, para. 3, item 1 of the Law on Public Offering of Securities:

The value of the described transaction exceeds the threshold under Art. 114, para. 3, item 1, letter (b) of the Law on Public Offering of Securities and thus requires a preliminary approval by the parent public Company.

 

D) Assessment of the applicability of Article 114(6) of the Law on Public Offering of Securities:

The hypothesis of Article 114 paragraph 6 of the Law on Public Offering of Securities does not apply to this transaction.