The company’s RON159.5 million net profit for 2019 will be transferred to other reserves and will support a share buyback program. SIF Banat-Crisana will seek to buy 15 million of its own shares at a minimum price of RON0.1 per share and a maximum of RON4.96 per share, taking the maximum program value to RON74.5 million.
Shareholders approved an additional buyback program for a maximum 880,000 shares to be distributed as loyalty bonuses to management. The company is looking to pay the same price range, meaning the program would amount to maximum RON4.4 million.