The company also proposed to shareholders the approval of two share buyback programs.
The first program entails the buyback of a maximum 38,800 shares at a price that does not exceed by over 5% the share market price at the last five stock market trading sessions prior to carrying the actual transaction. The purpose is to meet the obligations stemming from the Management Incentive Program, in line with the summoning note published by the Bucharest Stock Exchange.
The second program entails the buyback of a maximum number of one million shares at the same price mentioned above, with the aim of reducing the company’s share capital.
Shareholders are also expected to approve an increase in the company’s authorized share capital from EUR410,000 divided into 41 million shares with a nominal value of EUR0.01/share to EUR430,000 divided into 43 million shares with the same nominal value.
Purcari had a net profit of almost RON51.4 million in 2021, down 13% on the year, and revenue of RON248.1 million, up 22% on the year, as per consolidated data included in the annual financial report.
Purcari shares have lost almost 25% in 2022, amid deals worth RON58.2 million, and the company’s stock market capitalization reaches RON450 million.