Olimp Estival May Sell Neptun Complex

F.A.
Ziarul BURSA #English Section / 16 ianuarie 2007

Shareholders in Olimp Estival 2002 will convene on February 14th to discuss the sale of Neptun Complex. On December 12th, the shareholders had decided they would mortgage Neptun Complex. On the occasion, the shareholders will discuss increasing the share capital by an amount large enough to ensure full payment of the debts and the implementation of an investment plan.

The intention was to obtain a loan to pay outstanding debts. The complex consists of Neptun Hotel, Neptun Restaurant and Neptun Pool. Olimp Estival 2002 SA also owns the hotels Amfiteatru, Belvedere and Panoramic in Olimp. The company concluded last year with losses of 726,276 RON and a turnover of 3.98 million RON. Olimp Estival SA is controlled by AVAS with 54.03%, followed by SIF Transilvania with 39.62%.

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