EnglishCeramica SA - Iasi has called an Extraordinary General Meeting for October 1st to decide on increasing share capital by 48,964,272 RON by issuing 97,928,544 nominal shares with a face value of 0.5 RON and an issuance value of 0.5 RON. Existing shareholders will have preemptive rights to the shares for 30 days after the announcement is published in the Official Gazette.
The initiative comes shortly after the failure of the majority shareholder"s offer to purchase Ceramica shares. UGIROFIN BV, the majority shareholder, made the offer for July 31st - August 20th, but none of the minority shareholders was willing to sell. UGIROFIN holds 65.8% in Ceramica as of June, when they acquired 10,752,804 shares (65.8%) from the free float for 6.58 RON/share. At the end of July, the new majority shareholder made a public offer of 6.58 RON/share for the remaining 34.2%.
Ceramica concluded last year with a gross profit of 7,350,663 RON and a turnover of 37,455,846 RON. At the end of Q1:2007, the company reported 9,685,756 RON in turnover and 2,604,973 RON in net profit.
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