English
Shareholders in the electricity and oil industry equipment manufacturer Vulcan - Bucharest (RASDAQ:VULC) have approved an 11.01 million RON (3.13 million EUR) increase in share capital to 72.15 million RON (20.52 million EUR). Vulcan will issue 4.4 million shares with a face value of 2.5 RON. Shareholders registered as such by December 28th will be able to subscribe 18% new shares for a price equal to the face value.
Vulcan currently has a share capital of 61.14 million RON (17.38 million EUR) divided into 24.45 million shares with a face value of 2.5 RON. Grup Energetic Tender is the majority shareholder with 75.88%. Nine months through 2007, Vulcan posted a turnover of 32.59 million RON (9.71 million EUR), nearly as much as the 33.85 million RON posted for the entire year 2006. Losses amounted to 7.69 million RON (2.29 million EUR) but estimates for Q4 point to a profit. Operating revenues totaled 41.6 million RON, whereas expenses reached 49.1 million RON.
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