Dornafarm to increase share capital by 1.7 million euros

Pharmaceuticals distributor Dornafarm could increase its share capital by 5.84 million RON (some 1.7 million euros) to a total of 7.2 million RON, with cash contributions from shareholders, the Suceava-based company announced. The proposal to increase the capital was approved during a general meeting. The shareholders will be able to subscribe shares from November 3 until December 3. Dornafarm will merge (as absorbing company) with Farmastop Services and Farmacia Gara de Nord, after shareholders rejected a merger with Sanrotex. The distributor’s majority shareholder is pharmacist Ovidiu Constantin Rabanca, who holds 52.37% of shares, with the remainder divided among over 3,400 shareholders. Dornafarm posted turnover worth 32.54 million RON last year, an increase of 36.4% on 2005, and approximately 40,000 RON in net profit.