November 23 (SeeNews) - Bosnian brewer Banjalucka Pivara [BANJ:BLPV] said its shareholders approved a plan to reduce share capital to 2.7 million marka ($1.6 million/1.4 million euro) from 22.3 million marka by cancelling all own shares acquired by the company.
Under the plan, the decreased capital of 2,703,467 marka will be divided into 1,178,655 class A ordinary shares [BANJ:BLPV-R-A] and 1,524,812 class B participatory-cumulative preferred shares [BANJ:BLPV-P-B], each of 1.0 marka in par value, Banjalucka Pivara said in a statement earlier this month.
The company swung to a net profit of 602,000 marka in the first half of 2020, from a 1.1 million marka loss in the like period of last year, as costs fell faster than revenue.
According to data from the Banja Luka Stock Exchange, the brewer itself owns 88% of its share capital, while the remaining 12% belongs to Altima UK Value Investments Limited.
(1 euro = 1.95583 marka)