"East Point" intends to become 100% owner of "Sombormlin"

Cypriot "East point" holding has announced intention today (February 27, 2008) for takeover of remaining 26.56% of stocks of "Sombormlin" [SOML], which would make it the only owner of that company.

According to the ad published in newspaper "Politika", "East point" holding owns 81,206 stocks, that is, 73.44% of assets of Sombormlin. According to the data of the Central Securities Registry, remaining 29,369 stocks, that is, 26.56%, are owned by minor stockholders who have about 0.2% of stocks each.

Current value of stocks of "Sombormlin" on the Belgrade Stock Exchange is 247 RSD per piece, and the price of stock has been doubled in the past 13 days.

The stocks of Sombormlin were not traded between July 2004 and February 14, 2008, and their price was 120 RSD per piece.

The profit of "Sombormlin" in 2006 amounted to about 17m RSD, on the basis of 252m RSD worth of incomes, the value of assets of the company, according to the data provided by the Business Registry Agency, was 226m RSD, and the capital was estimated to 62.9m RSD.