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Footwear manufacturer Banatim - Timisoara will increase share capital by 4.5 million RON to 5.7 million RON through a capital injection, according to an announcement to RASDAQ. The company will issue 45 million shares with a face value of 0.1 RON. Shareholders registered as such by August 9th will have a month to subscribe the new shares. Banatim shareholders revoked the Board and appointed new administrators.
Banatim - Timisoara has a share capital of 1.2 million RON divided into 12.07 million shares with a face value of 0.1 RON. Ring Afaceri SRL is the leading shareholder with 78.69%, followed by Bega Turism and Marius Velentin Cristescu with minority packages.
Banatim concluded Q1 with losses of 15,284 RON, compared to losses of 170,000 RON in Q1:2006. The business plunged 4.34 times in Q1, from 1.37 million RON in Q1:2006 to 316,500 RON. At the end of the period, the company had receivables of 847,640 RON and debts of 3.94 million RON.
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