Broadhurst strikes again for Berceni shares

(story to be published in tomorrow’s issue, March 8)

Broadhurst Investment Fund resumed its bid for all the shares of Berceni Bucuresti bakery products factory. The investment fund is willing to take over 28.32 percent of the shares still traded on the second tier of the Bucharest Stock market, the price offered for one share being 800 lei/share, 200 lei/share higher than the nominal value of the shares. However, in its bid Broadhurst reserves the right to increase the price while the bid is opened. Therefore, shareholders who subscribed before the announcement of such a decision will get the price increased for the shares subscribed. The bid is opened between March 6 – 26 and is mediated by Delta Securities company. Berceni has a share capital of 14.18 billion lei divided into shares with a nominal value of 1,000 lei. The company is entirely privately owned, the main shareholder being Broadhurst Investments Ltd. fund with a stake of 71.68 percent of the shares. The turnover posted by Berceni in 1998 was 95.68 billion lei, and the company granted net dividends worth 16.6 lei/share. The company operates in the food products industry producing and trading bakery products. Berceni shares have been traded on the second tier of the Bucharest Stock Market since August 4, 1998, the reference price registered over the last trading session on Friday, March 3 being 810 lei/share. Variation registered by the price of the shares over the first part of this month was 1.25 percent.