Shareholders also rejected two bond issue propositions, Impact Developer said in a statement Friday.
On December 5, Romanian businessman Adrian Andrici, who owns a 10.69% stake in the company, proposed to cut Impact’s share capital ten times, to RON19.78 million.
Thursday, shareholders approved Impact’s revenue and expenses budget for 2013.
The company estimates losses of RON19 million next year, from a negative result of RON35.6 million expected for 2012.
Revenues are seen to increase 33% to about RON52 million, from RON39 million estimated for 2012. Overall expenses are expected to climb 17% in 2013 to RON69 million.
On Thursday, shareholders elected Vlad Nicolae Neacsu as member of Impact’s managing board. Neacsu is general manager of firm Primcom, controlled by investment fund Fondul Proprietatea (FP.RO).
Impact’s turnover increased 113% in the first nine months of 2012 to RON20.5 million, while the losses widened by 13% to RON16.26 million.
The company’s shareholders include Dan Ioan Popp, who owns 16.5% of the company’s shares, businessman Adrian Andrici (10.69%), investment management company East Capital, which owns a 10.1% stake via Cyprus-based Salink Limited, and three ING funds that own 5.18%.
On the Bucharest stock market Friday, Impact was trading down 2.16%, at RON0.1135 a share. (EUR1=RON4.4451)