The proposal is subject to shareholder approval at a meeting scheduled for November 1, the company said in a statement Friday.
Electrocarbon is 50.8%-owned by Vivaio Campina company. Metaleuroest holds 21.3% of the company’s shares, while Ekomin owns a 25.82% stake.
The company reported a net profit of 1.2 million lei (EUR0.27 million) in the first half, down from RON4.6 million a year earlier. Sales fell 28.5% to RON71.4 million.
On the Bucharest bourse Wednesday, Electrocarbon’s shares closed at RON3.5, valuing the company at RON62.82 million.