English
Shareholders in paper and cardboard manufacturer Petrocart - Piatra Neamt (RASDAQ:PTRC) have authorized the split of the face value of the shares, the purchase of 1.1 million shares (9.5%) in the company from the market and a 1.3 million EUR loan.
Following the share split, each shareholder will receive 25 shares with a face value of 0.5 RON for each share with a face value of 12.5 RON. The company will buy back 1.1 million shares with a face value of 0.5 RON and offer them to the employees. The 1.3 million EUR loan will be used to purchase machinery to process waste paper.
Petrocart has a share capital of 5.77 million RON divided into 462,000 shares with a face value of 12.5 RON. The shareholders are the Employee Association (43.47%) and SIF 1 Banat Crisana (28.54%). In 2007, H1 revenues amounted to 13.5 million RON (4.3 million EUR), compared to 13.1 million RON in the year-ago interval. The net profit amounted to 98,300 RON (31,300 EUR), up 2.4x y/y.
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