EnglishThe Management Board of Electrocontact Industrial Group (BSE - ECT) will propose to shareholders a share capital increase by 700.000 RON, the amount representing 84,71% of the company"s Y2006 net profit. The Extraordinary General Meeting of shareholdars will be held on April 28th.
Presently, the company has a share capital of 13,8 million RON, divided into shares with a face value of 0,1 RON. Last year, Electrocontact"s net 17,63 million RON, down 2,85% year-on-year. However, expenses amounted to 16,69 million RON, increasing by 6,18% compared to 2005. The company posted 15,89 million RON in turnover, down 16,75% year-on-year.
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