The minimum purchase price will be the stock market price at the time of acquisition and the maximum price will be RON1.6/share, according to a shareholders’ meeting resolution of April 27.
SIF Moldova seeks to buy back shares to distribute them to comapny employees, managers and directors within stock option plan programs.
BT Capital Partners was selected as intermediary for the transactions.
Back in April, shareholders approved a buy-back plan for maximum 20.8 million shares (2% of SIF Moldova’s share capital), of which 11 million shares in view of lowering the share capital and maximum 9.8 million in view of stock option plans. The full by-back program could amount to maximum RON33.3 million.