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Bosnia's Centrotransit Tranzit to cut share capital

Bosnia's Centrotransit Tranzit to cut share capital Bosnian marka Source: www.vladars.net

SARAJEVO (Bosnia and Herzegovina), June 24 (SeeNews) - Bosnia and Herzegovina's transport company Centrotrans Tranzit [SAJ:CTRTR] said on Friday it has decided to cut its total equity capital to 3,904,641 marka ($2.1 million/2 million euro) from 5,658,900 marka by reducing the nominal value of its outstanding shares.

The company will lower the nominal value of each of its 56,589 shares to 69 marka from 100 marka, Centrotrans Tranzit said in a filing with the Sarajevo Stock Exchange (SASE).

Centrotrans Tranzit will reduce its capital to cover accumulated losses in the amount of 1.75 million marka and to reserve funds for future losses in the amount of 3,901 marka. The capital reduction will also adjust the value the share capital of the company with its current real value, the company said.

Centrotrans Tranzit, established in 1963, is a leading cargo transport company in Bosnia, offering domestic and international transport services. It also services and maintains motor vehicles.

The company's shares last traded on SASE on October 28, when they closed 213.79% higher at 147.48 marka.

(1 euro = 1.95583 marka)

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