The company’s proposed buyback program targets maximum 10,443,797 shares with a nominal value of RON0.10/share, representing maximum 0.48% of the share capital. The minimum price will be equal to the market price on the Bucharest Stock Exchange at the time of acquisition and the maximum price will be RON0.46/share, SIF Transilvania said.
The company plans to offer the shares acquired in the buyback program for free to its Supervisory Board members, Executive Board members and selected staff within a stock option plan.