February 9 (SeeNews) - Romanian dairy producer Lactate Natura [BSE:INBO] said that it is suspending production for three years as of February 9.
The company will also reduce its social capital by 8.1 million lei ($1.7 million/1.6 million euro) to 5.99 million lei in order to partially cover its net loss for 2021, it said in a report filed with the Bucharest Stock Exchange on Wednesday.
Lactate Natura did not provide the reason behind the decision.
Latest data from the finance ministry indicate that the company booked a net loss of 2.5 million lei in 2021 and a turnover of 7.9 million lei. 2021 was the company's sixth straight year of annual loss, according to available data.
Lactate Natura is listed on the AeRO market of the Bucharest Stock Exchange and currently has a market capitalisation of 16.6 million lei. The company was established in 1991 and is controlled by investment fund SIF Oltenia [BSE:SIF5], which owns 93.7% of its share capital.
Shares of Lactate Natura last traded at 1.48 lei as of 1400 CET on December 30, bourse data showed.
SIF Oltenia's shares traded 0.29% lower at 1.745 lei as of 1557 CET on Thursday on the Bucharest Stock Exchange.
(1 euro=4.89 lei)