EnglishArmax Gaz Medias has increased share capital by 52.36 million RON (16.11 million EUR) to 60.43 million RON after the shareholders subscribed 93.98% of the shares put up for sale, according to an announcement to RASDAQ. The company issued some 548 million shares with a face value of 0.1 RON. The 14.46 million RON that the company had added to the reserves at the end of 2006 was converted into 144.58 million free shares for the shareholder who had registered by July 4th.
Of the 403.38 million shares offered for subscription, only 379.10 million (93.98%) were sold whereas the remainder of 24.27 million will be annulled. Armax concluded H1 with a gross profit of 4.3 million RON (1.39 million EUR), up nearly nine times year-on-year. The turnover was 19.5 million RON (6.2 million EUR), up by 16.19% year-on-year.
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