The minimum share acquisition price will be RON0.1 per share, and the maximum price will be RON3 per share, which means the maximum value of the program will be RON66.4 million, according to ZF calculations.
“The payment of repurchased shares will be carried out from the distributable profit or available reserves of the company recorded in the last approved yearly financial statements, except for legal reserves; the destination of the program- decreasing the share capital by cancelling the repurchased shares,” the report reads.
Wednesday’s Resolution no. 10 stipulates the approval to decrease the subscribed share capital of SIF5 from RON56.05 million to RON52.2 million, by cancelling 38.4 million shares repurchased by the company after carrying out, between January 16 and 30, 2020, the public purchase offer of own shares for the implementation of the buy-back program approved by the general meeting of shareholders.
SIF5 shares have been falling 23% since the start of 2020, following transactions worth RON52.4 million, securing the company a market capitalization of RON1.14 billion.