Market News


SSIF BRK FINANCIAL GROUP SA - BRK

Initiation of share buyback program

Release Date: 5/16/2022 9:00:10 AM

IRIS Code: DB4FA

No.2606/16.05.2022

 

To:         

Financial Supervisory Authority

Financial Instruments and Investments Sector

 

Bucharest Stock Exchange

 

CURRENT REPORT

 In compliance with the provisions of Law no. 24/2017 on issuers of financial instruments and market operations and Regulation no. 5/2018 on issuers of financial instruments and market operations

 

Date of the report: May 16th, 2022

Name of issuer: SSIF BRK Financial Group SA

Headquarters: Cluj-Napoca, 119 Motilor Street, Cluj County

Telephone/fax no: 0364-401.709/0364-401.710

Tax Identification Code: 6738423

Trade Register no/date: J12/3038/1994

Subscribed and paid share capital: RON 54,039,987.04

Regulated market where issued securities are traded: Bucharest Stock Exchange, - Premium Tier, market symbol: BRK

 

Important events to be reported: Buyback program of BRK shares

 
BRK Financial Group SA informs the investors that in the meeting of 13.05.2022, the Board of Directors approved the purchase by the Company of a package of maximum 6,000,000 shares representing a maximum of 1.776% of the share capital of BRK Financial Group, in accordance with the law and within the limits established in the EGMS Decision no. 2 of 26.04.2022 and the OGMS Decision no. 12 of 26.04.2022 .
 
The buyback program will be made in the market where the shares are listed, at a minimum price equal to the market price from BVB at the time of purchase and a maximum price equal to the lowest value of (i) 2 lei per share and (ii) the highest value between the price of the last independent transaction and the highest price from the respective moment of the purchase offer, in accordance with the provisions of art. 3 par. (2) of Delegated Regulation (EU) 2016/1052.
 
The volume purchased daily by BRK Financial GROUP will comply with the provisions of art. 3 paragraph (3) of the Delegated Regulation (EU) 2016/1052.
 
The buyback program will take place for a maximum period of 18 months from the date of publication of the EGMS Decision in Monitorul Oficial, following that the own shares purchased by the Company will be offered to employees, members of management and company administrators, free of charge, in a stock option plan.
 
The payment of the repurchased shares is made from the distributable profit or from the available reserves of the company, registered in the last approved annual financial statement, except for the legal reserves, according to the provisions of art. 103 ind.1 of Law no. 31/1990, updated.
 
 

Monica Ivan

General Manager

 



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