This proposal will be analyzed in a General Meeting of the shareholders scheduled for March 6th, according to a document release by the company to Bucharest Stock Exchange.

The capital increase would take places in two phases, first one were only the company’s shareholders could participate in and the second one where the remaining shares could be bought by other investors too.

The company has already the shareholders’ agreement to launch a bonds issue with five years maturity valuing 100 million lei.

The real estate developer has registered last year businesses of 26.1 million lei (EUR 5.9 million), with 19% growth compared to 2012 and losses of 46.7 million lei (EUR 10.6 million), with 38% down, according to the preliminary financial report sent by the company to the Stock.


Impact estimates for next year a turnover of approx. EUR 26 million, aiming to reach in 2016 approx. EUR 50 million/year, while the operational profit EBITDA is anticipated to EUR 1.6 million in 2014 and EUR 22.5 million in 2018. (Source: