“The shares’ selling price has been agreed at RON0.43 /share. The gross proceeds of the Transaction amount to RON 978,250,000 and will be used to implement the Fund’s Discount Control Mechanism, by funding the buyback programme, as approved by the Fund’s shareholders, and the payment of potential dividends to the Fund’s shareholders, in the absence of exceptional market conditions or circumstances, and subject to any restrictions under Romanian legal or tax regulations and to shareholders’ approval. Petrom will not receive any proceeds from the Transaction,” the Fund said in its report.
Subject to successful settlement, the Fund’s remaining participation in Petrom is of 1,688,548,078 shares, representing 2.98% of Petrom’s share capital.
Erste Group Bank AG and SSIF Swiss Capital S.A. acted as Joint Global Coordinators and Joint Bookrunners, and Banca Comercială Română S.A. and Auerbach Grayson and Company LLC acted as Joint Bookrunners for the Transaction (the “Bookrunners”).
The Fund announced Wednesday evening that it would launch an accelerated bookbuilding offering of 1.7 billion ordinary shares held in OMV Petrom, worth about RON800 million at the current trading prices.