Shareholders in Aeroteh SA Bucharest on May 25th will discuss an increase in share capital from 8,11 million RON to 10,55 million RON, the amount representing 68% of the company"s Y2006 net profit, according to a report to the Bucharest Stock Exchange, quoted by NewsIn.
In 2006, the company posted 15,8 million RON in turnover and net profit of 3,83 million RON. Shareholders decided that almost a third of last year"s net profit, namely 1,07 million RON be disbursed as dividends, while the remaining 2,445 million RON be used for the share capital increase. The company will issue 978.248 shares with a face value of 2,5 RON. For the current year, Aeroteh expects turnover to reach 12,3 million RON, while net profit should amount to 2,56 million RON, declining from 2006, due to investments in modernization and restructuring.
The majority shareholder is the Employees Association (PAS), holding 65,69% in Aeroteh, followed by Dumitru Banut (13,67%) and others (20,64%). Aeroteh Bucharest manufactures and repairs aircrafts and has a share capital of 8.112.707,5 RON, divided into 3,245 million shares with a face value of 2,5 RON/share. Aeroteh shares are traded in the "unlisted" category of BSE as AER.