The group of shareholders consists of Business Capital for Romania, an investment fund controlled by Florin Pogonaru and Erste, Allianz-Tiriac Pensii Private, U.S. investment fund Broadhurst Investments, companies Romarta and Metex Big, and investment vehicle Clairmont Holdings.
The minimum purchase price shall be RON0.1 per share and the maximum purchase price shall be RON3 per share; therefore, the total value of the program may amount to RON78.3 million, according to calculations by Ziarul Financiar.
The duration of the program is until March 31, 2021, and the payment of the shares repurchased will be made from the distributable profit or available reserves of the company recorded in the last annual financial statement approved. The shares repurchased shall be canceled to reduce the share capital to RON50 million from RON52.2 million.
SIF5 shares have been trading down 21.9% since the start of 2020, amid deals worth RON104 million, ensuring the company a market capitalization of RON1 billion.