Norofert shareholders are also expected to approve, among others, an increase in the company’s share capital by a maximum amount of RON3.4 million from the 2020 profit to be distributed, by issuing 8.6 million new free shares, each with a nominal value of RON0.4. The distribution of the newly issued shares will be made according to the formula: one newly issued share for each share already held, per a stock market report published by the Bucharest Stock Exchange.
Shareholders are also expected to approve the winding up, liquidation and deregistration of the company NOROFERT ORGANICS S.R.L in which NOROFERT S.A. holds a 99% participation. The empowerment of the Board of Directors to establish the manner and procedure suitable from an economic and legal point of view for carrying out the winding up and liquidation operations, which will be carried out the latest during the fourth quarter of 2021.
The company also seeks to contract loans (credit lines, factoring, working capital, leasing etc.), in the maximum amount of RON32 million, from banking institutions, credit institutions and / or other banking or non-banking financial institutions or any other institutions permitted by law.
Shareholders are also expected to ratify and approve the investment credit amounting to RON1.3 million granted by Banca Romaneasca S.A. within the IMM Invest program, to approve the company’s amended individual financial statements for the financial year 2020, to approve the company’s income and expenditure budget for 2021, to elect, starting June 29, the three members of the Board of Directors for a four-year mandate and to set forth the general limits of the gross remuneration granted to the new members of the Board of Directors.
Norofert, with a market value of RON160.3 million, is 38.7% held by Vlad Popescu (founder), 19% by Ileana Popescu and 11.6% by Marius Alexe, per stock market data.
Norofert shares have been trading up 54.9% on the Bucharest Stock Exchange since the beginning of 2021, amid deals worth RON52.6 million, stock market data also show.