English
Real estate developer Conect Business Park - Bucharest (RASDAQ:COEC) has asked shareholders to authorize a loan of up to 3.5 million EUR that would be used to buy land for a residential project in Saftica, nearby Bucharest, according to an announcement to RASDAQ.
Conect Business Park has a share capital of 16.2 million RON (4.47 million EUR) divided into 1.2 million shares with a face value of 13.36 RON. The company is controlled by Tinapack Co. SRL with 97.09%. The company concluded the first nine months of 2007 with a net profit of 8.6 million RON (2.56 million EUR), up from 264,300 RON in the first three quarters of 2007.
The turnover amounted to 6.2 million RON (1.84 million EUR) up by 16.6% y/y frtom 5.34 million RON. The company has a market value of 77.9 million RON, as per the latest quotation of 64.20 RON/share in 28 August 2007.
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