Monbat Increases Capital of Subsidiaries, Gives Loan to Serbian Unit
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Monbat Jsc will give a 1 mln euro loan to its subsidiary Monbat DOO, Ingia, Serbia at an 8% annual interest rate, x3news reported. The loan has to be repaid by 31 December 2009.
The Serbian subsidiary will use the funds to finance construction works and to launch plant equipment.
Monbat has also decided to increase the capital of its Romanian subsidiary Monbat Recycling from 10,000 to 510,000 euros.
The capital will be increased by a cash deposit and is soon to be registered with the Romanian authorities.
15,063 shares changed hands today on BSE at prices between 13.35 and 13.50 leva.
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