The company’s shareholders will discuss the proposition at their general meeting of April 21, 2021.
The capital shall be increased by issuing a number of 131,250,000 new shares. Following the operation, the company will have a share capital of RON393 million.
Shareholders are also expected to decide on a share split operation, in 1:4 ratio, respectively split of the nominal value of the share from RON 1/share to RON 0.25/share. Following the implementation of the share split operation, the Company’s share capital remains unchanged.
Shareholders will also discuss approving the buyback by Impact of maximum 30 million own shares, at the minimum price of RON0.25 per share.
The buy-back shall be performed after the registration of the operations to increase the share capital and divide the nominal value. The aggregate amount of the buy-back program is maximum RON30 million.
Impact also targets a bond issue, with a maximum total nominal value of EUR100 million, an interest of maximum 7% and a maturity of at least three and a half years, maximum up to seven years.
The Bonds shall be placed pursuant to one or more public offerings addressed to the public and/or to certain qualified and/or professional investors, and/or in reliance on other exemptions for the publication of a prospectus in relation to the issuance of such Bonds; and/or one or more private placements to investors through an offer addressed to qualified investors and/or to a number of less than 150 natural or legal persons, other than qualified investors, on a member state, in compliance with the legal provisions
Shareholders will also discuss approving the implementation of a “stock option plan” type program that aims at granting option rights for the acquisition of shares free of charge by the employees and members of the Company’s management, namely the members of the Board of Directors and the managers of the Company, in order to maintain and motivate them, as well as for rewarding them for the activity carried out within the Company.
Impact has a market value of RON683 million ad is 58% owned by Gheorghe Iaciu and 15% held by Andrici Adrian.
Impact shares have been trading up 48% since the beginning of 2021, amid deals worth RON15.3 million.