English
The National Securities Commission (CNVM) has frozen the transfer of 130,000,630 shares in Sapte Spice for two weeks starting on 10 September. The shares in question were issued within a capital increased decided by the shareholders in Sapte Spice on 18 June 2007.
The shares are the object of an open litigation and this was the reason for the freeze. In June 2007, the shareholders decided to increase share capital by 15.88 million RON from 4.12 million RON to 20 million RON. For so doing, the company was to issue 158.8 million shares with a face value of 0.1 RON. At the end of August, CNVM froze another 130 million shares in Sapte Spice, also for two weeks. The company has a share capital of 15.93 million RON divided into shares with a face value of 0.1 RON. The majority shareholder is Broadhurst Investments with 94.42%. Sapte Spice is traded on the Bucharest Stock Exchange as VEL.
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