Shareholders will analyze the proposition on October 11, according to a shareholder meeting summoning posted Wednesday on the Bucharest bourse.
The company currently has a share capital of RON200 million, divided into 200 million shares with a face value of RON1.
If the operation is approved, the company will cancel 2.1 million shares, which it has bought back starting 2008.
Another item on the meeting agenda is the choice of board members, since the mandates of current members expire in October.
Company shareholders include Dan Ioan Popp, with 18.06%, Carmen Sandulescu with 11.61%, Templeton GIT Emerging Markets with 6% and the ING managed private pension fund, with 5.72%.
Impact shares closed down 6.2% Wednesday to RON0.26. (EUR1=RON4.2325)