EnglishImobil Trust UTA SA - Arad, controlled by Imotrust SA - Arad (RASDAQ: ARCV) with 59.9%, has sold a plot measuring over 15,000 square meters for 4.1 million EUR, according to a report to RASDAQ. Imotrust SA - Arad posted a Y2006 net profit of 4.25 million RON (1.25 million EUR), up 97.6 times year-on-year.
Last year"s turnover reached 2.17 million RON, two times up from the 1.6 million RON posted in 2005. The management has suggested to shareholders to incorporate last year"s net profit into the capital and distribute free shares following the capital increase.
Shareholders will convene on April 27th to make a decision on the management"s move to increase share capital from 6.06 million RON to 10.68 million RON. The company has a share capital of 6.06 million RON divided into 60.69 million shares with a face value of 0.1 RON.
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