On August 20, the shareholders of Prodplast Imobiliare agreed in principle to split the company, transfer one of the company’s two plots to a newly set up firm amd build a shopping center on the respective plot. Subsequently, the company’s managing board reconsidered the proposition to split the company and summoned the shareholders’ meeting to cancel the decision.
The managing board, however, did not discard the plan to develop a shopping center and proposed increasing the company’s share capital by RON13 million, through cash inflow. The money is to be used for further investments in the real estate project. The company also owns a three-hectare plot in Tunari, Ilfov county, near capital city Bucharest.
The shareholders of plastics manufacturer Prodplast decided back in 2008 to split the company into two firms, of which, one would specialize in real estate operations.
Prodplast Imobiliare is indirectly controlled by businessman Florin Pogonaru, via several firms. Regional investment fund SIF Oltenia owns a 32% stake in Prodplast Imobiliare.(EUR1=RON4.5168)