Extraordinary! Atanas Bobokov resigned as boss of “Monbat”

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The CEO of the Bulgarian Monbat Atanas Bobokov is leaving his post.

This is clear from his statement circulated by the company to the stock exchange. “In order to preserve the stability of the company Monbat AD represented by me and the trust of investors built over the years, I hereby declare that I am resigning from the position of Executive Director of the company Monbat AD,” it reads. money.bg.
He remains Chairman of the Board of Directors. Brothers Atanas and Plamen Bobokovi were charged, along with the deputy environment minister, with organized crime and “illegal activities related to the import and export of waste from abroad.”

The court ordered the detention of Atanas Bobokov, chairman of the board of directors and chief executive of Monbat. Plamen Bobokov was released on bail of BGN 1 million.

The actions of the prosecutor’s office led to the collapse of the company’s shares by nearly 20%. Thus, the market capitalization of the company, one of the leaders in revenue in Bulgaria, decreased from BGN 160.7 million to BGN 130.3 million today.

Compared to what was achieved on February 5 this year. peak of BGN 6.50 per share, the company loses 48% of its market capitalization. The first decline came in March due to the pandemic. The company then requested a temporary suspension of trading in its shares, but the BSE refused. Over the same period, the Sofix index lost 19% of its value.

The largest shareholders in Monbat are Prista Oil Holding with 42.73% (managed by the Bobokovi brothers), Prista Holdco Cooperative UA (ADM Capital and the European Bank for Reconstruction and Development) with 20.78% and Monbat Trading (also managed by Bobokovi) with 7.06%.



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