This appointment comes after the QVT investment fund, which requested the dissolution of Flamingo and subsequently appealed in court a decision made by the General Meeting of Shareholders to recapitalize the company through a bond issuance, sold its 22 percent share package to a foreign investment fund.
According to company data, QVT will drop all charges against Flamingo, and the new fund will support the company’s relaunch strategy.
Flamingo International (FLA) presently has a share capital of RON 77.91 million, divided into 779.05 million shares with a nominal value of RON 0.10. The company’s market value is RON 26.87 mln (€5.5 mln), based on the RON 0.0345 quotation set in Friday’s stock exchange session.
