The shareholders of the real estate developer Imotrust Arad (ARCV), decided at the end of last week to increase its share capital by 10.3 million RON (2.8 million euros), to 30.88 million RON (8.5 million euros). The increase will be performed by using reserves, and by the distribution of bonus shares. 102.94 million shares with a nominal value of 0.1 RON will be issued. Each shareholder will receive one new share for every two previously held. The company's latest capital increase was operated in February, and amounted to 9.9 million RON, from 10.6 million RON to 20.5 million RON. At the time, the shareholders subscribed 92.7% of the shares issued. Last week, the company also approved the distribution of a gross dividend of 0.0238 RON per share, from a net profit of 6.07 million RON (1.6 million euros) posted in 2007, as well as the "in principle" merger with UTA Arad, which is due to be completed within the next two years.
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