One Teraplast share was trading up 5.4% on Friday morning, at an average price of RON0.54.
The company’s shareholders will discuss distributing the net profit worth RON41.5 million within the general meeting due on April 27.
The share capital increase will be operated by issuing 290 million new shares, with a face value of RON0.10 per share. The newly issued shares will not change the shareholders’ current stakes and will be distributed free of charge to all shareholders enrolled in shareholders’ register on the registration date to be set at the Shareholders’ General Assembly. The share capital increase aims to support the company’s current operations.
In February 2017, Teraplast acquired a 50% stake in the share capital of Depaco SRL, the second largest player on the Romanian metallic tiles market through the brand Wetterbest. The acquisition is strategic for Teraplast Group in the context in which TeraSteel subsidiary is leader of the zinc-coated metallic structures market and the new products to enter its portfolio will be complementary.
Teraplast group has an annual turnover of over RON400 million. Teraplast groups includes the company Teraplast, the TeraSteel subsidiary (the new name of Plastsistem starting January 2017), the TeraGlass subsidiary (starting April 2015; previously, the activity of TeraGlass was organized as a business line of the company Teraplast), the Teraplast Logistic subsidiary (starting June 2016) and Politub (an entity jointly controlled as association in participation). According to data provided by the Bucharest Stock Exchange, Teraplast is 46.77% held by businessman Dorel Goia, Luxembourg-based firm KJK FUND II owns 10%, and the remaining shares are distributed among various investors on the Bucharest capital market.