Paval Holding and PIF Industrial Bacau – two companies held by brothers Adrian and Dragos Paval, the founders of do-it-yourself retail chain Dedeman – jointly own over 95% of the company’s share capital, thus, at least 95% of the voting rights that can be actually exercised following a public purchase offere carried out between April 22 and May 8, 2024.
The offer was unfolded at the price of RON0.4395 per share; Paval Holding acquired 975,344 CEON shares of a total of 24.6 million shares that made the object of the operation. Minority shareholders – which own under 3% of the share capital – will receive RON0.4395 per share as well.
CEON shares were suspended from trading at the Bucharest bourse, on Wednesday (June 5). Cemacon shares have gained 0.9% so far in 2024, but lost 8% in the last 12 months, amid deals worth RON3.3 million and RON4.5 million, respectively.
Valued at RON400 million, the company ended the first quarter of 2024 with loss of RON3.7 million, at group level, compared to profit of RON12.8 million in the same period of 2023. Its EBITDA plunged 71% on the year to RON4.9 million.
At individual level, the profit dropped from RON12.8 million to RON1.1 million, and the turnover reached RON35.1 million, down 26% on the year.