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Investment fund Bulgarian Land Development (BLD), which is currently traded on the AIM market of the London Stock Exchange, may sell assets and return the net proceeds from the sale to its shareholders, according to a company announcement.

The biggest shareholders of BLD informed that after the expected delisting from trading, their plan is to take several measures to "facilitate the systematic and rapid realization of the group's assets and return the net proceeds from the sale to shareholders."

The fund, established in 2006 by the founders of the Bulgarian AG Capital, formerly known as Address Group, will hold an extraordinary GMS on July 21, to vote about the fund's delisting from the AIM market.

The envisaged measures include transferring the fund's management to AG Capital. Also, some of the employees of the fund will be transferred to AG Capital, and the latter will accept all "non-investment assets of the fund as office furniture and others, as well as certain contracts with third parties."

BLD has a number of development projects in the holiday, residential and office segments in Sofia and the country's sea and mountain resorts.