The two measures will be discussed at the General Meeting of Shareholders of April 27, 2021.
The issue of non-convertible bonds will have an interest rate of 7% and a three-year maturity. The bond issue will be carried out under the form of several offers for the general public, for some qualified and/or professional investors, or as a private placement for investors.
Shareholders’ agenda also includes “the ratification of Decision no. 2/25.03.2021 of the Executive Board whereby it was approved the conclusion of a loan contract between Altur and Mr. Adrian Andrici, in the amount of RON3,461,007, for a one-year period. The loan will be used to pay overdue taxes to the state budget in order to reduce/annul the penalties (Government Emergency Ordinance no. 69/2020) that might be imposed”.
Altur ended 2020 with a turnover of RON75,3 million, compared with RON103,6 million in 2019, and a loss of RON13,7 million, from RON1,9 million in 2019.
Altur has a market capitalization of RON33 million after its shares have been trading up 56% since the beginning of 2021, amid deals worth RON953,960.
Investor Adrian Andrici holds 27.9% of the company’s share capital and Mecanica Rotes owns a 28.15% stake.