Roman Brasov applies for a 25 million euros loan from BCR

The board of truck maker Roman Brasov (BSE: ROVA) said it planned to borrow 25 million euros to refund a 69.3 million dollars contract concluded with US-based Tacom Waren Michigan.

If the proposal will be approved in the Shareholders Meeting on January 23, 2009, Roman Brasov will likely contract the credit line from BCR, in several successive stages, for each incoming order from the American company.

Roman Brasov said it would probably raise share capital by 7.12 million lei, equivalent value of investments conducted by Pro Roman SA, majority shareholder. For this reason, the company will issue 2.85 million shares at 2.50 lei nominal value, in favor of Pro Roman, while the minority shareholders will be able to underwrite shares in order to keep stakes.

Roman Brasov truck maker reported 861,750 lei after-tax earnings versus 14.14 million lei losses a year earlier.

The company’s turnover climbed to 93.5 million lei (25.5 million euros), double compared to last year’s 41.5 million lei.

Roman Brasov has a share capital of 295.16 million lei divided into 118 million shares at 2.50 lei nominal value per share. The majority stockholder of the company is Pro Roman Brasov SA, that holds 91.49% of the company’s share capital.

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