Minority Shareholder in Romanian Fertiliser Maker Amonil Seeks 58.7 Mln Lei (13.8 Mln Euro) Capital Hike

Salink Limited, holding a 13.54% stake in Amonil, has requested a shareholders’ meeting whose agenda includes the issue of 587.4 million new shares with a face value of 0.1 lei each, and the election of new board members, Amonil said in a statement.

Earlier this month the fertiliser maker said it was putting up for sale one fertiliser production platform, two retail outlets, a hostel, two land plots and several apartment units at a combined starting price of 57.1 million lei to pay off debts. The tender is scheduled for 0600 GMT on October 6.

Amonil is listed on the Bucharest Stock Exchange, where it was last traded up 15% at 0.023 lei, the biggest gainer by 0919 GMT on Wednesday.

The fertiliser maker reported a net profit of 8.6 million lei for the first half of 2009, down from 21.3 million lei a year earlier. In mid-June the company resumed production of ammonia and urea after halting it at the beginning of March due to low market demand.

(1 euro = 4.247 Romanian lei)