English"Altex" Romania has increased its share capital by 37.5 million lei, to 73.6 million lei, by converting a debt it had towards its Dutch shareholder Bomenveld BV.
The operation was performed by issuing 1,488,190 shares with a face value of 25.20 lei each, which were fully subscribed by Bomenveld BV, according to data published in the Official Gazette, quoted by press agency Mediafax.
Following this operation, the stake of Bomenveld BV has reached 99.51% of the share capital of Altex Romania, with businessman Dan Ostahie holding the remaining shares.
Bomenveld BV is a holding company that Dan Ostahie created which he is using to control the companies in the "Altex" group.
In 2009, the retailer saw a 48% drop in turnover, to 180 million Euros, from 344 million Euros in 2008, and said it expects its business to stagnate this year.
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