Alum Tulcea needs $20 million

Alum Tulcea’s Extraordinary General Meeting of shareholders early next week will analyse a 687bn ROL (approximately $20 million) capital increase in order to provide financing resources for the company. The operation should be conducted by issuing 11,544,090 shares (59,582 ROL in par value). The share capital of the company currently reaches 388.8bn ROL, distributed across 6,525,756 shares, whose par value is 59,582 ROL. Alum logged 2,397bn ROL (some $72.5 million) turnover last year and 447bn ROL (some $13.5 million) in gross losses. The company that supplies 15% of the raw material used by aluminium producer Alro Slatina was bought by UK-based Balli Group in 1995. ZF