EnglishShareholders in steel pipe producer Zimtub SA Zimnicea have approved a share capital increase by 2,41 million RON (over 724.000 EUR) to 12,07 million RON (3,6 million EUR), according to a report to the Bucharest Stock Exchange.
Presently, the company has a share capital 9,65 million RON (2,9 million EUR). The capital increase will be done through the issue of 965.764 new shares with a face value of 2,5 RON. Shareholders will receive one free share for each four shares held.
Zimtub concluded 2006 with net profit of 102.309 RON, while turnover amounted to 26,9 million RON, declining by 30,8% compared with 2005. For this year, the company expects gross profit to fall 7,12% to 118.000 RON, while revenues are estimated at 33,89 million RON, up 20% from 2006. The company plans to invest 3,89 million RON this year. The significant shareholders in Zimtub are Stelian Dragomir (25,37%), SIF Oltenia (24,80%), Ionel Bocioc (12,64%) and Ion Tugulescu (8,30%). Stelian Dragomir is also CEO of the company.
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