The company, which has been hit by a downturn in building and construction work during 2008, has a net debt of ВЈ697m.
It has closed 80 trading sites and made around 1,020 staff redundant - the equivalent of around 7% of its workforce.
The group will now issue 455m shares at 75p each, below its closing share price of 105p yesterday.
Pre-tax profit fell 73% for ВЈ33.1m for the 12 months to December 2008. The company predicted that 2009 would remain "very challenging" for the parts of its business most exposed to the housing market and that demand from the non-residential sector had also been subdued so far.
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