RomReal hereby announces the highlights in connection with the Q1 2012 results:
- Statutory Net Asset Value (NAV) under IFRS was EUR 0.54 (NOK 4.0) per share at the end of Q1 2012, a decline of 1.5% compared to the end of Q4 2011. This is mainly driven by the unrealised foreign exchange losses as a result of the depreciation of the RON against EUR by 1.4% during the quarter.
- Pre-tax loss in Q1 2012 of EUR 0.6 million. Total assets at the end of Q1 2012 were EUR 39.10 million.
- Total operating expenses were reduced with another 23% less compared to Q1 2011.
- The Company is focusing its resources on divesting part of its land bank in order to release cash and strengthen its financial position.
- To conform with the Oslo stock exchange regulation and following the approval from the 2012 Annual General Meeting, the Company is proceeding with a reverse share split with ex date 18 June 2012 where 10 old shares will give 1 new share . The reverse share split will have as a result that the total number of shares in the Company is reduced from 49,247,366 to 4,924,736, and the nominal value of each share will change from €0.0001 to €0.001. This is a post period event.
RomReal invites investors, analysts and media to the conference call, to be held
at 9.00 a.m. Oslo time.
Those who would like to attend the conference call are invited to dial:
Participant joining details
UK Freefone: 0800 169 0968
UK Primary: 0844 800 3849
International direct: +44 844 800 3849
UK Direct: +44 208 996 3943 (Only to be used if experiencing problems dialing primary number)
*Note: Some locations may be unable to access the primary dial-in number and the International direct-dial in number. If you are calling from one of these
locations, please use +44 208 996 3943 from within the UK and +44 208 996 3943 from outside the UK to join this conference. Global Access Numbers: http://www.btconferencing.com/globalaccess/?bid=54_automated
Passcode: 168 933#
The conference call will be recorded and made available to download from
www.romreal.com <http://www.romreal.com/> shortly after the call has ended.
For further information, please contact:
Harris Palaondas
at 9.00 a.m. Oslo time.
Those who would like to attend the conference call are invited to dial:
Participant joining details
UK Freefone: 0800 169 0968
UK Primary: 0844 800 3849
International direct: +44 844 800 3849
UK Direct: +44 208 996 3943 (Only to be used if experiencing problems dialing primary number)
*Note: Some locations may be unable to access the primary dial-in number and the International direct-dial in number. If you are calling from one of these
locations, please use +44 208 996 3943 from within the UK and +44 208 996 3943 from outside the UK to join this conference. Global Access Numbers: http://www.btconferencing.com/globalaccess/?bid=54_automated
Passcode: 168 933#
The conference call will be recorded and made available to download from
www.romreal.com <http://www.romreal.com/> shortly after the call has ended.
For further information, please contact:
Harris Palaondas
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
