The move is a first for the local capital market when a “stock option plan” of a listed company is carried out through a share capital increase and not through stock repurchase.
As a result of this operation, Bittnet’s share capital will increase by RON347,796 and its equity will increase additionally by RON3.58 million – share premiums.
The project was approved by the Extraordinary General Meeting of Shareholders held on April 28, 2016. The project stipulates that “18 people were granted the right, but not the obligation, to buy shares from Bittnet at a price per share equivalent to a company capitalization of RON7,800,000.”