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Shareholders in Sapte Spice (the former Vel Pitar) have approved a 15.88 million RON increase in share capital, from 4.12 million RON to 20 million RON, according to a report to the Bucharest Stock Exchange quoted by NewsIn. The company will issue 158.8 million shares with a face value of 0,10 RON/share.
Sapte Spice ended 2006 with a net profit of 3.24 million RON (960.000 EUR), down 27.6% from 4.47 million RON a year earlier. Turnover rose by nearly 12.9% to 258.24 million RON (76,4 million EUR), compared with 228.82 million RON in 2005.
Shareholders in the former Vel Pitar approved in February the company"s split-off. Thus, Vel Pitar became Sapte Spice SA. Also, shareholders decided to reduce share capital by 2.925 million RON, from 7.045 million RON to 4.12 million RON, by cancelling 29.25 million shares with a face value of 0,10 RON.
On March 10th, shareholders decided to delist the equity shares of the company from BSE and they have set the share price at 1,7247 RON/share for shareholders who wanted to exit the company following this move. Vel Pitar is controlled by Broadhurst Investments with 81.69% of the share capital. Shares are listed on the Tier 2 of the Bucharest Stock Exchange as VEL.
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