The company will carry out a program to repurchase 20.6 million shares, accounting for 2.56% of the share capital, at a minimum price of RON0.1 per share, and a maximum price of RON2.03 per share. Thus, the total value of the program may reach RON41.9 million, according to calculations by Ziarul Financiar.
The first option, which was rejected by SIF4 shareholders, targeted the distribution of gross dividends of RON23.5 million (gross dividend of RON0.03 per share).
Shareholders also approved the company’s 2020 budget of revenue and expenses, which envisages total revenue of RON61.7 million, total expenses of RON28.1 million and a gross profit of RON33.6 million.
SIF4 has a market capitalization of RON505 million. Its shares have been trading down 25.8% since the start of 2020, amid deals worth RON27.9 million.