Forestar wants 3.5m euros from its shareholders

Timber producer Forestar Tarcau, based in Neamt county, intends to increase its share capital by some 3.5 million euros (12.37 million RON) through a capital contribution from its shareholders. The company's shareholders will give their verdict on the capital increase at the end of the month. Currently, Forestar's share capital stands at 4.32 million euros (15.27 million RON). Last year the company posted turnover worth 16.4 million euros (59.4 million RON). The company's majority shareholder is the Romanel International Group, which owns 97.6% of the shares. Recently, the company has been de-listed from the RASDAQ.