SIF Transilvania puts 1.2m euros more in tourism

The shareholders of Turism, Hoteluri si Restaurante (THR) Prahova decided to increase the share capital of the company by 4.5 million RON (1.23 million euros), by contribution in cash from shareholders. The capital increase will be done by issuing 45 million new shares, which will be offered for subscription to the shareholders at a price equal to the par value (0.1 RON). The majority shareholder of THR Prahova is SIF Transilvania, which owns more than 91.4%. According to sources on the market, Broadhurst investment fund is the main minority shareholder (4%). If the minority shareholders do not participate in the increase, SIF Transilvania will come to own more than 95%, and will have to put out a tender offer. The money raised through this increase could be used for funding projects to modernise the Central Hotel in Ploiesti, an asset of the company. ZF