New lease of life in property
This week's shareholders' meeting of Europejski Fundusz Leasingowy will decide on whether to increase the company's capital and pay out a dividend. "The management will propose to earmark 65 percent of last year's profit for dividend, that is zł.65 million. The rest is to increase our reserve capital," said Waldemar Horbacki, EFL's deputy president.
This means shareholders would receive zł.1.5 per share. The company capital is to be increased from the present zł.43.7 million to zł.275.7 million. This will be done through increasing the nominal value of shares from zł.1 to zł.6.40. "The company's capital will be increased using means from our reserve capital," says Horbacki.
EFL is the biggest leasing company on the market. In 2004 it had a 16 percent stake in all leased assets. It plans to further strengthen its market position in 2005 and enter the real-estate leasing sector. (Poland A.M.)
This means shareholders would receive zł.1.5 per share. The company capital is to be increased from the present zł.43.7 million to zł.275.7 million. This will be done through increasing the nominal value of shares from zł.1 to zł.6.40. "The company's capital will be increased using means from our reserve capital," says Horbacki.
EFL is the biggest leasing company on the market. In 2004 it had a 16 percent stake in all leased assets. It plans to further strengthen its market position in 2005 and enter the real-estate leasing sector. (Poland A.M.)
