Proprietatea Fund shareholders approve share capital reduction

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.

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