$6m for Otelinox

Otelinox Targoviste, a company listed on the first tier of the Bucharest Stock Exchange, is to increase share capital by 54.5bn ROL following the issue of new shares. The capital increase is actually an investment pledge honoured by the majority shareholder Samsung Deutschland GmbH, in line with the privatisation contract. The new shares are to be put up for sale to the shareholders registered with the Shareholders Registry by December 23. They will have to pay 145,000 ROL/share, 25,000 ROL of which account for the par value and 120,000 ROL for the issue premium in line with the gap between the existing share capital and the net asset of the company, according to the new regulations. The company will see a cash intake of at least 200bn ROL ($6 million) in the event the capital is subscribed by the principal shareholder only. ZF