“This plan is to be confirmed by the syndic judge within 15 days, according to the provisions of Law no. 85/2014, and after this moment, the trading of Romcab SA shares on the stock market can be resumed,” the report reads.
Shortly after the confirmation of the reorganization plan, a new financial report, reflected following the provisions of the reorganization plan, shall be released.
The company also said Monday it was in final talks with real estate developers to expand the production unit in the Acatari locality, in order to lay the ground for the relocation of the factory in Targu Mures, corroborated with the realization of a future turnover under conditions of higher profitability compared with the previous period.
Romcab, with a market value of RON17.6 million, is 69% owned by Sadalbari SRL based in Targu Mures, which, in turn, is 91.8% held by Motoplus Paneuro, which, in turn, is 99.7% owned by Tarca Ioana Roxana, an associate or minority shareholder in several firms, mostly in the automotive sector.