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Mefin Sinaia shareholders approve 2.5 fold share capital decrease

The shareholders of issuer Mefin Sinaia on Monday approved the compensation of the company's losses in the previous years by the 2.5 fold diminution of the share capital, informs a Mefin release to the Bucharest Stock Exchange (BVB).

The share capital was trimmed from RON 13.231 million to RON 5.292 million so as to cover RON 7.939 million in losses registered in the years 2002, 2005 and 2006. In 2002, the company was RON 1.265 million in the red, in 2005 - losses stood at RON 2.744 million and in 2006 - at RON 3.928 million. The shareholders also approved the reduction of the share's face value from RON 2.5 to 1 RON. Mefin Sinaia, a producer of parts and accessories for motor vehicles and engines, closed Q1 2008 with a profit of RON 478,256, in a turnaround from the loss of RON 327,547 registered in the similar period of 2007, informs the financial report submitted to the Bucharest Stock Exchange.

The company's total revenues stood at RON 7.917 million, whereas outlays were RON 7.439 million. The company's turnover reached RON 6.637 million.

Mefin Sinaia, which produces Diesel fuel injection pumps, is owned by the American company DCI Walbridge Partners, and its major shareholders are DCI Walbridge Partners Ltd - with 79.63 pct and Broadhurst Investments Ltd - 7.78 pct.

Sursa: http://www.rompress.ro

Tags: million capital mefin share shareholders sinaia bvb

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