Carpatica increases capital by 3.6m euros

Banca Carpatica (Carpatica Bank) plans on increasing its share capital by 12.45 million RON (3.55 million euros) through capitalisation of reserves created from last year”s net profit. The bank is to issue over 117.3 million new shares at a par value of 0.1 RON/share, which accounts for 12.05% of the current capital. The shares will be distributed as bonus shares to shareholders registered in the shareholders” registry at the end of May 5. Each shareholder would thus receive 120.5 bonus shares for every 1,000 old shares owned. Carpatica had increased its capital by capitalising its reserves last year as well, when they allocated 11.7 million RON of the net profit for this. Bonus shares then accounted for 12.81% of the capital. Following the increase proposed for this year, Carpatica”s share capital would top 115.7 million RON (over 33 million euros). The capital increase is to be submitted for approval to the General Meeting of Shareholders, scheduled for April 15. Shareholders are also to elect a new vice-president of the bank, with the Board of Directors proposing Ion Dobrica for this position, head of the Treasury and Capital Market division. Other candidacies can be submitted before the end of this month. Carpatica saw a 17.7 million RON (4.9 million euro) profit last year, almost a 34% increase on gains seen in 2004, according to preliminary data reported by the bank. The end of the year had seen bank assets exceed 255 million euros, double as much as at the end of 2004. ZF