Proprietatea Fund shareholders approve share capital reduction

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Proprietatea Fund shareholders approved in an Extraordinary General Meeting on Monday the reduction of the share capital by RON 677 million to RON 12.86 bn-plus.

The reduction of the Fund's subscribed share capital will be achieved by reducing the face value of company shares from RON 1 to RON 0.95.

According to a notification the Fund sent the Bucharest Stock Exchange, the justification for the reduction is the need to optimize the company's share capital, which involves the repayment to shareholders of a part of their contribution, proportionally to their participation to the PF paid-up share capital.

After the reduction, the PF paid-up share capital will be in excess of RON 12.86 billion, divided into 13,538,087,407 shares, each with a face value of RON 0.95, reads the PF note.

The cited document also mentions the approval of payments of RON 0.05  / share to registered shareholders, proportionally to their interest in the Fund's paid-up share capital. Payments will commence within 30 days from the date the aforementioned capital reduction becomes effective. AGERPRES

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