The stake represents one third of the 34.18% the group intended to but. Thus, the three shareholders currently control 76.92% in Cemacon.
KJK Fund SICAV-SIF, SSIF Broker and Andrei&Andrei Consultanta reached an agreement in October, whereby they will act jointly regarding any decision involving the company. The three shareholders, together with liquidator Casa de Insolventa Transilvania (CITR) and other five natural persons, including Andrei Cionca, hold a cumulative stake of 65.85% in Cemacon.
Afterwards, the three shareholders announced plans to launch a bid to take over the company, as, under capital market laws, investors owning over 33% of a company listed on the stock exchange have to launch a bid to acquire the remaining shares.
Cemacon’s sales rose 34% in the first nine months of 2013, to RON34.8 million, while losses halved on the year, to RON2.8 million.
On the Bucharest Stock Exchange Friday, Cemacon rose 3.69% at RON0.0534 a share. (EUR1=RON4.5400)