The fund will distribute its shareholders total dividends worth RON30.2 million.
The amount of RON19.9 million from the total distributable net result of RON50.1 million will go towards other reserves. The registration date was set for May 10, 2019 and the date for the payment of dividends was set at May 30, 2019.
Shareholders also approved the activity program and the budget of revenue and expenditure for 2019. For 2019, the fund budgeted 8% higher total revenue, of RON103.3 million, compared with last year, and a 2.7% lower net profit, of RON48.8 million, compared with the result reported in 2018.
Within the Extraordinary General Meeting of April 18, shareholders also approved the decrease of SIF Moldova’s share capital, by RON1.1 million, to RON100.2 million, following the cancellation of 11 million own shares acquired by the company, in compliance with EGMS Resolution no. 2 of April 27, 2018.
Shareholders also approved the unfolding of a program for the repurchase of own shares, over a period of maximum 12 months from the date the resolution is published in Romania’s Official Gazette, “with a view to reducing its share capital, by cancelling the shares and for carrying out “stock option plans” for the distribution of shares to employees, managers and directors of the Company”, the fund said in its report.
“The purchase of the shares will be accomplished through the public offer of purchase for the acquisition of no more than 15,300,000 shares for the reduction of the share capital and through market operations for the acquisition of a maximum of 5,000,000 shares for the “stock option plans””, the report also reads.