Oil Terminal majority shareholders representing almost 78% of equity decided yesterday to increase the share capital from nearly 58.2 million lei (about 13 million), to about 319.2 million lei (about 71 millions euros), according to a report consulted by energynomics.ro.

Therefore, the decison of the general shareholders‘ meeting (GSM) was to increase the capital “to the maximum of 319,236,363.8 lei via in-kind and cash contributions amounting to a maximum of 260.993.3387,5 lei, by issuing a maximum of 1,609,933,385 new shares,” reads the report sent to the Bucharest stock Exchange.

The in-kind contribution will be of about 155.6 million lei, the nominal value of the shares being 0.10 lei (10 bani), and will consist of two fields located in Constanta totaling over 380,000 square meters.

Cash contribution will be of about 105.4 million lei (about 23.4 million euro), by issuing a proportional number of shares. Shareholders will be able to keep their owneship ratios to the company by exercising their preference rights, while the subscription rate will be about 4.48.

Autor: Bogdan Tudorache

Active in the economic and business press for the past 26 years, Bogdan graduated Law and then attended intensive courses in Economics and Business English. He went up to the position of editor-in-chief since 2006 and has provided management and editorial policy for numerous economic publications dedicated especially to the community of foreign investors in Romania. From 2003 to 2013 he was active mainly in the financial-banking sector. He started freelancing for Energynomics in 2013, notable for his advanced knowledge of markets, business communities and a mature editorial style, both in Romanian and English.