EnglishRamnicu Valcea-based milling and bakery company Sapte Spice, (the former Vel Pitar) reduced its share capital by 2.92 million RON, from 7.045.255,1 RON to 4.120.255,1 RON, through the cancellation of 29.25 million shares.
Shareholders in the former Vel Pitar approved in February the company"s split off. Thus, Vel Pitar became Sapte Spice. Also, shareholders decided to set up the following companies: Vel Pitar, Moara Rahova, VP Magassin, VP Immobili, Brassai Com, Borcea Park, VP Realty, Moara de Foc and Targul din Vale.
Shareholders in VEL will convene on June 18th to discuss a share capital increase by 15.88 million RON, to 20 million RON. The company is listed on the Bucharest Stock Exchange as VEL. The majority shareholder is Broadhurst Investments Ltd., with 81.68% in the company.
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