RomReal hereby announces the highlights in connection with the Q2 2012 results:
- Statutory Net Asset Value (NAV) under IFRS was EUR 5.36 (NOK 39.7) per share at the end of Q2 2012, a decline of 0.2% compared to the end of Q1 2012, portraying a stability in the exchange rate between the EURO and the Romanian LEU in this given period. The Company has not made any changes to the land bank portfolio valuation since the year end independent valuation.
- Pre-tax loss in Q2 2012 of EUR 0.25 million. Total assets at the end of Q2 2012 were EUR 38.69 million.
- The Company continues its efforts to divest part of its land bank portfolio by looking into available options in the current market environment with the objective to strengthen its cash flow position.
- On the 18 June the Company executed the 2012 AGM decision where 1 new share was given in exchange of 10 old shares in order to conform with the Oslo stock exchange regulation and avoid trading below NOK 1. The reverse share split resulted in the total number of shares in the Company being reduced from 49,247,366 to 4,924,736, and the nominal value of each share changed from €0.0001 to €0.001. The reverse share split did not change the value of the Company's share capital.
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:
For further information, please contact:
Harris Palaondas
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: | 316 159# |
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.
