English
Amicosotis SA has reported ownership of 5.88% in faucet manufacturer Mecanica Rotes - Targoviste (RASDAQ:METY). The main shareholders are SIF Oltenia (SIF5) with 23.94%, Catalin Chelu (23.18%), Amirastar Trading SA (20.25%), Ionel Maricel Stan (11.57%), MEI Roemenie & Bulgarije Fonds NV (6.54%) and Amicosotis SA (5.88%).
In early June, Mecanica Rotes shareholders authorized the listing on the BSE and a share capital increase by 14 million RON (4.3 million EUR) from 12.8 million RON to 26.87 million RON through a cash injection and the issuance of free shares. The company will issue nearly 14.08 million shares with a face value of 1 RON.
The capital increase will have two components: 1.28 million shares (10% of the capital) worth 1.28 million RON will be allocated free of charge to shareholders registered as such by June 27th, whereas 12.8 million shares will be offered to the same shareholders for subscription.
Mecanica Rotes reported a 22% year-on-year profit decline at the end of 2006 to 1.5 million RON, compared to 1.92 million RON at the end of 2005. The turnover gained 3.6% to 6 million RON, up from 5.78 million RON at the end of 2005. The company owns shares worth 7.92 million RON in several companies listed on the Bucharest Stock Exchange (BSE). The company currently has a share capital of 8.4 million RON divided into 8.4 million shares with a face value of 1 RON.
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