Constanta Shipyard's share capital increase

The majority shareholder of Santierul Naval Constanta (Constanta Shipyard – SNC), namely Resource International, subscribed and paid in full more than 150.7bn ROL ($4.4 million) during the share capital increase operation conducted by the company. Resource International subscribed more than 6 million shares with a par value of 25,000 ROL. As a result of the increase, the share capital of the Constanta Shipyard now stands at 1,269bn ROL, distributed across more than 50 million shares (25,000 ROL in par value). Resource International, which is controlled by businessman Gheorghe Bosanceanu from Constanta, owns 92.4% in the company and its stake is worth more than 515bn ROL ($15.2 million) if calculated at the par value. The other shareholders have seen their interests in the Shipyard shrink because they did not subscribe in the capital increase. ZF