EnglishShareholders in farming machinery manufacturer Mecanica - Ceahlau (BSE:MECF) have agreed to change the face value of the company"s shares from 2.5 RON to 0.1 RON. Shareholders registered as such by October 10th will receive 25 new shares for each old share. The measure is intended to increase share marketability.
Mecanica will have a share capital of 13,325,705 RON divided into 133,257,050 shares with a face value of 0.1 RON. The majority shareholder is SIF Moldova with 55.18%, followed by MEI Roemenie & Bulgarije Fonds NV with 7.81%. The company concluded H1 with a net profit of 1.45 million RON down by 34.8% y/y, whereas the turnover decreased by 13% to 15.3 million RON. Estimates for this year include a turnover of 37.63 million RON (+25%) and a net profit of 3.83 million RON (+32%).
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