Shareholders in Champagne producer Lanson-BCC, formerly Boizel Chanoine Champagne, have approved an increase in the company's share capital.

An extra one share will be awarded for every ten shares held, as part of the plan which was backed by shareholders at the firm's combined general meeting yesterday (12 July).

Following the move, Lanson-BCC's share capital will comprise 5,578,492 shares with a par value of EUR10, representing a share capital of EUR55,784,920 (US$70m).

The firm last month changed its name to reflect the group's focus on the Lanson Champagne brand in international markets.

In March, Lanson-BCC reported a fall in profits of nearly 22% to EUR16m (US$21.6m) for the 12 months of 2009, compared to EUR20.5m in 2008.