The share capital increase will be performed to support the company’s current activity and it will be carried out by incorporation of reserves. The newly issued shares will be allocated freely to the company’s shareholders registered in the shareholders’ register on January 4, 2021. Each shareholder registered in the shareholders’ register will receive at no cost or charge a number of five newly issued shares for each share held at the date of registration.
Shareholders also approved January 5, 2021 as the date of payment for free shares to be issued within the share capital increase and December 30, 2020 as ex date, the date on which the company’s shares are traded without the rights that derive from the Extraordinary General Shareholder Meeting (EGSM).
MedLife shareholders also approved the appointment of the company’s founders, Mihail Marcu and Nicolae Marcu, as members in the Board of Directors. Also, Dorin Preda (banker), Dimitrie Pelinescu Onciul (physician), Ana-Maria Mihaescu (banker), as well as Ovidiu Fer (former analyst within brokerage firm Wood&Company and proposed by the shareholder East Capital Asset Management), Voicu Cheta (lawyer proposed by NN Pensii) and Stefan-Alexandru Frangulea (banker proposed by shareholder Ionut-Adrian Codirlasu) were appointed members of the Board of Directors for a four-year period.
MedLife ended the first nine months of 2020 with a turnover of RON770 million, up 8.4% on the year, and a net profit of RON44 million, from RON19 million in the same period in 2019.
The company, with a market value of RON1.1 billion, is 16.6% held by Mihail Marcu, 14% owned by Mihaela Gabriela Cristescu and 11.1% controlled by Nicolae Marcu.
MedLife shares have been trading up 46.5% since the beginning of 2020, amid deals worth RON107 million.