“The payment of the dividends distributed from the profit achieved in the financial year 2018 will be made in compliance with the legal provisions in force. The potential costs related to the payment of dividends will be borne by the shareholders,” SIF Transilvania said in a statement on Monday.
In January 2019, SIF Transilvania said it was going to summon its shareholders to vote, among others, on a decision to reduce the fund’s share capital by RON2.2 million, to RON216 million, by annulling some 21.8 million shares obtained within a share repurchase program.
Shareholders are also expected to vote on a decision to start a program for the repurchase of maximum 163.9 million shares, at a maximum price of RON0.32 per unit, namely, RON53 million. The program targets 7.5% of the fund’s share capital.
SIF Transilvania has a market capitalization of RON514 million after its shares have dropped by 1.88% over the last year, amid transactions of RON55.7 million.