Sopharma has Given BGN 1 Million in Shares to over 1 700 Employees

Sopharma AD has already distributed 277,400 shares to 1,733 of its employees. The decision for the gift was taken in June by the shareholders of the company and is on the occasion of the 85th anniversary of the company. A total of 276,000 shares repurchased will be distributed to 1,834 employees.

The process is not yet over, as some of them are on maternity leave or long-term leave, the company said in a statement to the stock exchange. The book value of the units at the date of the decision was BGN 1.034 million. Their share of the total number of shares was 0.22 percent. The gift also aims to familiarize employees and their families with the opportunities that financial instruments provide, such as an alternative saving method. In the decision, the Board of Directors recalls that the return on the Bulgarian Stock Exchange exceeds that on deposits.

The number of shares as gift is determined by the employee's history in the company. Those with between 1 and 9 years of service receive 100 shares and the five with the most experience - over 40 years in the company - 500. Today Sopharma shares are traded at BGN 3.80 per share, losing 11% percent since the beginning of the year. With Sofix dropping 10.53%. According to the latest consolidated report of the stock exchange company, the profit is BGN 20.7 million for the second quarter of 2018