Romarc Fuel, down after capital increase

Romarc Fuel shares over the last trading sessions have registered significant decrease, from 950 lei per share at the beginning of the month down to 360 lei for one share during the last session, following company’s share capital increase granting shareholders six free shares for each share already owned before the reference date in June.

Romarc Fuel, a company operating in the domain of whole sales, before the capital increase had a share capital worth 93 billion lei, divided in shares having a face value amounting to 1,000 lei.

According to Rasdaq reports, company’s own capitals amounted to 119 billion lei in mid-1999.

Over the first half of last year the company posted net profit worth 6.1 billion lei, against turnover amounting to 87 billion lei.

Company’s shareholding structure includes TWT Positive Limited, which owns 31.9% of stock, the East Europe Frontiers Fund, with 11% of the share capital, Rivita Handelsges, with 13.2% of the shares and other shareholders owning together 43% of the Romarc Fuel shares.

Romarc Fuel shares have been traded on the Rasdaq market since November 28, 1996.

During this period, 4,117 transactions were concluded involving 30.5 million shares worth 86 billion lei. During the last trading session, 563,742 shares were transferred within two transactions, at prices between 500 and 360 lei per share.