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Car parts manufacturer Altur Slatina increased its share capital by 26.96 million RON to 53.73 million RON at the end of the share subscription period, according to a report to the Bucharest Stock Exchange.
Initialy, Altur planned to increase its share capital by 29.44 million RON and therefore issued 294.39 million shares. Shareholders subscribed for 269.64 million shares with a face value of 0.10 RON and a subscription price of 0.12 RON, of which 0.02 RON represents the issue premium. The remaining 24.747 million shares were cancelled.
The company posted losses of 2.64 million RON (844,164 EUR) in the first half of 2007, as compared with losses of 1.39 million RON in the same period last year. Turnover rose by 3.01% to 50.28 million RON (16.04 million EUR), from 48.8 million RON in H1 2006.
Altur estimates a gross profit of 800,000 RON for the current year, as compared to losses of 4.24 million RON in 2006. Total revenues are expected to reach 102.57 million RON, up 4% from 98.5 million RON a year earlier, while overall expenses should amount to 101.77 million RON, down 1% from 102.74 million RON from 2006.
Altur is listed on Tier 2 of the Bucharest Stock Exchange as ALT. Following the capital increase, the company has a market capitalisation of 91.34 million RON.The significant shareholders in Altur are Mecanica Rotes (29.33%) and SIF Oltenia (23.21%)
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