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Sep 18, 2007 15:14 EEST
In BELGRADE story dated September 18 please read in the second paragraph "The statement did not say what was the size of Zorka Color’s capital after the cut." instead of "The statement did say what was the size of Zorka Color’s capital after the cut."
September 18 (SeeNews) - Serbian coatings manufacturer Zorka Color has decreased its capital by 16.365 million dinars ($284,600/205,300 euro), data from the Belgrade Stock Exchange (BELEX) showed on Tuesday.
The statement did not say what was the size of Zorka Color’s capital after the cut. According to latest available data, the company had 533.783 million dinars of equity capital in 2005.
Zorka Color cancelled 8,355 shares which were offered for sale last month but were ignored by buyers, the company said in a filing to the BELEX.
Zorka’s shares last traded on July 26, closing unchanged at 1,400 dinars.
The Serbian company, previously known as Zorka Boje, has long been present in Serbia, Montenegro, Bosnia and Herzegovina, Macedonia, and Croatia. Earlier this year it entered into a strategic partnership with Macedonian drug producer Alkaloid. In 2006, Zorka Color opened a subsidiary in Hungary and plans to set up units in Albania and Romania this year.
Zorka Color produced 8,000 tonnes of coatings last year. It plans an output of 10,000 tonnes in 2007. Its exports last year totalled 3.0 million euro ($4.0 million) while its total sales rose by more than 10% to over 10 million euro.
(1 euro = 79.7065 Serbian dinars)
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