Also, shareholders approved the date of September 14, 2021 as ex date.
The shareholder meeting was not attended by representatives of Paval Holding, the investment vehicle of Dragos and Adrian Paval brothers, the owners of do-it-yourself (DIY) retailer Dedeman, which holds 23.2% of Alro’s share capital.
Alro Group is one of Europe’s largest vertically integrated aluminum producers. In the first half of 2021, Alro reported consolidated loss of RON47.5 million, compared with a profit of RON253.6 million in the same period in 2020, and sales of RON1.53 billion, up 13% from the first half of 2020.
Individually, Alro reported revenue of RON1.42 billion in the first half of 2021, higher than RON1.22 billion in the same period in 2020, and a loss of RON27.5 million, compared with a net profit of RON211.7 million, per the company’s half-year financial report.
Alro Slatina, with a stock market capitalization of RON2 billion, is 54.2% held by Russian group Vimetco, 23.2% owned by Paval Holding and 10.2% held by Fondul Proprietatea.
ALR shares have been trading up 28% since the beginning of 2021, amid deals worth RON46.9 million, per stock market data.