“Approval of the increase of the Company’s share capital by the amount of RON120,000,000 without subscription and without contribution (“Share Capital Increase”), by incorporating in the share capital the amount of RON 120,000,000 from the reserves registered as a result carried over to 31.12.2023 and the counterpart issue of a number of 120,000,000 shares with a nominal value of 1 leu each and the free distribution of 2 newly issued shares for each share held by the shareholders registered in the Shareholders’ Register on the Registration Date”, the report shows.
The report also reads: “Approval of the following data, regarding the Share Capital Increase: Ex-date: August 26, 2024; Registration Date: August 27, 2024; Payment Date: August 28, 2024;”
TTS has a market value of RON1.5 billion after its shares have lost 4.6% so far in 2024, but gained 91% in the last 12 months.
The company is 25.3%-owned by Alexandru Mircea Mihailescu, the Chairman of the Board of Directors.