In June, Impact’s shareholders decided to reduce the company’s share capital from RON197.8 million to RON19.7 million to cover loss registered over the past years.
ASF argues that Impact’s loss is lower than RON178 million and regulations do not allow for the remaining funds to be reserved.
Impact Developer said in a statement last week two thirds of the sum would be used to cover loss of RON116.3 million (registered in the last three years) and the remaining RON61.7 million would be set aside.
The company reported loss of RON19.1 million for 2010, of RON22.2 million for 2011 and of RON74.9 million for last year.
Impact is controlled by businessman Gheorghe Iaciu, which holds a 38.05% stake in the company. Other shareholders include Adrian Andrici (13%) and investment management company East Capital, which owns 10.1% of the shares through Salink Limited.
The company’s turnover rose 54% in the first half of 2013 to about RON13 million, from RON8.4 million in the similar interval a year ago. It reported loss of RON5.8 million for the first half, down 38% from RON9.4 million in January-June 2012.
Impact shares rose significantly this year, by about 70%, to RON0.195/unit, from RON0.115/unit at the end of 2012. (EUR1=RON4.44)