With the capital increase, the company would raise their current share capital from RON 28.6m to maximum RON 130.3m by issuing 30.83m of new shares.

CONPET published a convening of the Extraordinary General Meeting of Shareholders in which the company proposed the increase of share capital by the maximum value of RON 101.8m. Of that, contributions in kind (lands) amounts to RON 59.8m, while cash amounts to RON 42m.

With the capital increase, the company would raise their current share capital from RON 28.6m to maximum RON 130.3m by issuing 30.83m of new shares.

CONPET’s shareholders will be able to exercise the preemption rights within maximum one-month time as of the date mentioned in the prospectus, while they will be entitled to subscribe a number of shares proportional to the number of shares held at the registration date.

Note that 18.1m new shares in the amount of RON 59.8m, represent the contribution in kind (lands) of the Romanian State by representative the Ministry of Energy (48 land ownership certificates for which CONPET has obtained, during 2001-2005 land ownership certificates).

To read about CONPET’s Q1 2019 results click here.