Cargill Cereale - Bucharest (RASDAQ:CGIU) may increase share capital through a 3.42 million RON injection to 37.6 million RON according to a proposal of the executive management to the shareholders.
Shareholders who registered as such by July 20th are called to convene on August 9th to debate the share capital increase. The company currently has a share capital of 34.2 million RON divided into shares with a face value of 2.5 RON. The majority shareholder is Cargill Inc. with 93.94%.
The company is specialized in grains storage and was originally established as Comcereal SA through the merger of Comcereal - Alexandria, Comcereal - Slobozia, Comcereal - Galati and Comcereal - Giurgiu.
Cargill Cereale concluded last year with losses of 9.75 million RON, up 5.7 times from the 1.7 million RON loss posted in 2005. The turnover plunged three times from some 68 million RON in 2005 to 21.37 million RON in 2006.