Romania's Rompetrol Group Delists Rompetrol SA Shrs From Rasdaq Mkt

Romanian Securities Commission CNVM suspended Thursday the shares trading of Rompetrol SA, operator of Vega refinery, following the majority stockholder delisting procedure from Rasdaq market.

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The country’s second-largest oil company Rompetrol Group developed between July 29 and September 29, a public offer to buy a 7.54% stake in Rompetrol SA. Rompetrol bought a 6.52% stake for 29.5 million lei (EUR1=RON3.9530), increasing its stake to almost 99% of Rompetrol SA share capital.

According to the legislation on the capital market, prior to the company’s delisting, the majority stockholder should offer the minority investors a similar price with that in the takeover offer, namely RON0.26 per share.

Rompetrol SA has a share capital of RON174.5 million, split up between 1.74 billion shares with a face value of RON0.1 per share.

The company posted a turnover of RON20.9 million in the first semester, much lower compared with RON108 million during the same period a year before. It reported first-semester RON10.6 million worth of losses, compared with a net profit of RON2.4 million during the same period a year before.

Vega Ploiesti is the refinery arm of Rompetrol Bucuresti. Rompetrol Bucuresti is part of Rompetrol group, whose majority owner is Kazakhstan’s KazMunaiGaz, which owns 75% of the shares.

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