Societatea de Investitii Financiare Moldova S.A. (BVB:SIF2) commences share repurchases on September 18, 2019, under the program mandated by the shareholders in the Extraordinary General Meeting held on April 18, 2019. As per the mandate, the company is authorized to repurchase up to 20,300,000 shares, representing 2% of its issued share capital. The minimum purchase price will be the market price on Bucharest Stock Exchange at the time the transaction is made and the maximum purchase price will be RON 2.2 per share. The company will buyback shares in order to reduce its share capital, by cancelling the shares and for carrying out stock option plans for the distribution of shares to employees, managers and directors of the company. The repurchases will be funded from the distributable profit or from the reserves of the company included in the last approved annual financial statement. The program will be valid for 12 months from the date the resolution is published in Romanias Official Gazette, part IV.
On September 17, 2019, the company announced a share buyback program. Under the program, the company will repurchase up to 2,000,000 shares. The buyback program will commence on September 18, 2019 and will expire on December 31, 2019.