Shareholders approved the move in April and the company will pledge one-star hotel Cocorul, one-star hotel Pajura, two-star hotel Claudia, two-star hotel Brandusa and two-star hotel Lidia, all located in the Venus seaside resort.
Hotels Pajura and Cocorul are on a list of assets put up for sale by THR Marea Neagra. The two hotels were built in 1970 and 1971 respectively.
THR Marea Neagra owns over 30 hotels on the Romanian Black Sea Coast, in resorts Eforie Nord, Eforie Sud, Neptun, Venus, and Saturn.
Company shareholders also approved the distribution of the RON3.1 million net profit of 2012 and will pay dividends of around RON1 million, while nearly RON1.93 million will go into a development fund and the rest will constitute legal reserves. The gross dividend has been set at RON0.0018/share.
This is the first time in the past nine years that THR Marea Neagra pays dividends.
In 2012, the hotel company posted a turnover of RON30.3 million (EUR6.8 million), up 15% on the year, and a net profit of RON3.15 million,m from a loss of RON2.77 million in 2011.
The most recent transaction with THR Marea Neagra took place Friday, at RON0.0578/share. At this rate, the company’s market value stands at RON33.46 million (EUR7.7 million).
SIF Transilvania owns 77.7% of THR Marea Neagra.