Fondul Proprietatea announces Shareholders Meeting to approve a new buy-back program worth RON 1.6bn.
Fondul Proprietatea released an invitation to the shareholders meeting which will be held on November 15th, 2019 during which the Fund’s shareholders will put a new buy-back program to a vote. According to the release the new buy-back program aims at acquiring 800,000 shares at a minimum price of RON 0.2 per share and a maximum price of RON 2 per share. The duration of the program will be from January 1st, 2020 until December 31st, 2020.
As a reminder, when it comes to buy-back programs, Foundul is one of the most active companies on the Romanian market with the Fund completing their tenth buy-back program in August. Through the program the Fund successfully bought back a total of 150,000,000 own shares (1.65% of the Fund’s capital).
