RON 45 million capital increase in ARDAF
 ARDAF, member of the group GENERALI PPF Holding, requires its shareholders a new capital increase, of up to RON 45.15 million, according to the Extraordinary General Meeting of Shareholders Convocatoria, scheduled on June 7th, this year. ARDAF shareholders have brought another RON 51 million to the insurer's capital in the first part of this year, after in the autumn of 2009 they operated a capital increase worth RON 200 million.
"The increase in share capital is necessary to support running and developing the company's activity and for compliance with legal regulations in force", said company Directorate in the report submitted to BSE.
The proposal involves the company's capital increase by issuing new shares in exchange for cash contribution of up to RON 45.15 million.
ARDAF is indirectly controlled by GENERALI PPF Group, through IBERIAN Structured Investments, which owns 98.87% of the titles of the insurer, a share increased by 16.87% in the public takeover bid which was conducted in June 2009.
ARDAF ended 2009 with underwritings amounting to RON 327.3 million, down 13% compared with 2008, according to preliminary results for the previous year, published in the Specialty Magazine INSURANCE Profile.
Author: Andreea IONETE
on 10.05.2010
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