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Extraordinary General Meeting of the Shareholders of Telelink Business Services Group AD

Telelink Business Services Group AD held an extraordinary physical general shareholders meeting on June 30, 2020, from 10:00 a.m. local time at the Company’s headquarters in Sofia. The shareholders approved the following:

1. Conduct a buyback of  Group’s own shares under the following conditions:
– Amount: up to 3% of the Group’s voting shares
– Deadline: not later than December 31, 2020
– Minimum and maximum price: 7.40 BGN per share and 11 BGN per share respectively

2. A reasoned report prepared by the Managing Board of Telelink Business Services Group AD in accordance with art.114a POSA with regards to issuing a corporate guarantee (Parent Guarantee for Specific Liabilities) to Citi Trade Finance Operations (CITI Bank) and Cisco Systems International B.V. (Cisco).

3. A decision to issue a corporate guarantee by CITI Bank at the amount of 5 100 000 US dollars as a collateral against obligations under contracts signed by ComutTel D.O.O. Belgrade and Telelink D.O.O. Slovenia with Cisco Systems International B.V.

Read the full notice (in Bulgarian, under Bulgarian legislation requirements) here: https://www.tbs.tech/investor-post/resheniya-na-izvnredno-obshho-sbranie-na-akczionerite-na-telelink-biznes-srvisis-grup-ad-30-6-2020g/

Separately, on June 29, 2020 the Managing Board of Telelink Business Services Group AD approved the annual financial statements of its subsidiaries for 2019 and adopted a resolution on the distribution of dividends out of subsidiary retained earnings and profit for 2019. The sum of dividends to be paid out towards Telelink Business Services Group AD amounts to BGN 8 488 302.20.

See the announcement in Bulgarian here: https://www.tbs.tech/investor-post/reshenie-za-razpredelyane-na-dividenti-ot-dshherni-druzhestva-km-telelink-biznes-srvisis-grup-ad-v-obshh-razmer-na-8-488-302-20-leva/