Broadhurst and Property Fund to get 7m euros for Otelinox shares

A number of Otelinox Targoviste shareholders, including Broadhurst investment fund and the Property Fund, whose stakes total 19.84% together, filed for exiting this company and are to get 25.5 million RON (some 7.1 million euros) for their shares. Otelinox Targoviste shareholders decided to have the company de-listed from the Bucharest Stock Exchange during an Extraordinary General Meeting on May 10 and approved a 12 RON price per share to repurchase the interests of those investors wishing to leave. Broadhurst Investments Limited's interest in Otelinox stands at 14.26% (1.52 million shares), so that it will get 18.24 million RON (approximately 5.1 million euros). The Property Fund owns 5.34% or 569,344 shares. The amount collected will be 6.83 million RON (1.9 million euros). Oth er shareholders to have submitted requests to withdraw from the company include SIF Banat-Crisana, 0.24% (26,370 shares) and other shareholders, totalling about 16,000 shares.