Shareholders are also expected to establish the price of RON0.28 for the compensation of the fractions of shares following the application of the algorithm and the rounding of the results to the lower inferior.
Thus, every shareholder registered in the Shareholders’ Register at the registration date (August 18, 2020) will receive one new share for free for every 3.3 owned shares.
The share capital increase will be made by incorporating the reserves in the amount of RON40.5 million, constituted from the issue premium of RON27.4 million and other reserves of RON13.15 million, and by releasing 405,395,460 new shares with a reference value of RON0.10 per share. The new released shares will not modify the shareholders percentage and will be distributed for free to all company’s shareholders, registered in the Shareholders’ Registry, at the registration date established by this Decision. The capital increase is made in order to support the current activity of the company, according to the report.
The proposal for the date of distribution of shares for free is August 19, 2020.
Shareholders are also expected to approve the distribution of the net profit for 2019 financial year, of RON9.7 million, as follows: retained earnings in the amount of RON9.13 million and legal reserves in the amount of RON539.240.
The company is 46.8% owned by businessman Dorel Goia, while Luxembourg-based investment fund KJK Balkan Holding holds a 10% stake.
TRP shares have been trading down 6.7%, amid deals worth RON34.9 million, securing the company a market value of RON353 million.