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BURSA DE VALORI BUCURESTI SA - BVB

Initiation of buyback of BVB shares

Release Date: 3/16/2020 6:00:08 PM

IRIS Code: 3D353

No. 1779/16.03.2020

To:      Financial Supervisory Authority                                                          

            Financial Instruments and Investments Sector

            Fax: 021- 659.60.51

            Bucharest Stock Exchange – Regulated market

            Fax: 021- 256.92.76

 

From:    Bursa de Valori Bucuresti S.A. (Bucharest Stock Exchange)

 

 

CURRENT REPORT

according to 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

 

Report date: 16 March 2020

Name of the issuing company: BURSA DE VALORI BUCURESTI S.A.

Registered office: 34-36 Carol I Blvd, 13-14 floors, district 2, Bucharest

Phone/fax number: + 4 021/307.95.00, + 4 021/307.95.19

Sole Registration Code with the Trade Register Office: 17777754  

Order Number in the Trade Register: J40/12328/2005

Share capital: RON 80,492,460

Regulated market on which the issued securities are traded: Bucharest Stock Exchange – Premium Tier (market symbol: BVB)

 

Important events to be reported: Buyback of BVB shares

 

Bursa de Valori Bucuresti S.A. (“BVB” or “the Company”) hereby informs that, starting with March 18, 2020, will begin the buyback program of its own shares under the conditions approved by the Resolution no. 1 of April 24, 2019 of the Extraordinary General Meeting of Shareholders (EGMS), published in the Official Gazette of Romania, Part IV, no. 2325/June 4, 2019. Thus, the Company will buyback from the market its own shares up to a total value of maximum RON 2,112,915. Banca Comerciala Romana S.A. will represent the interests of the BVB in the process of buying-back of its own shares from the market under the conditions approved by the EGMS.

 

Please be reminded that, through the EGMS Resolution aforementioned, it was approved the buyback of a maximum 60,369 shares (representing up to 0.75% of the Company’s share capital), at a minimum price equal to the market price from the BVB at the acquisition moment and a maximum price which will be the lesser of (i) RON 35 per share and (ii) the higher of the price of the last independent trade and the highest current purchase bid, in accordance with the provisions of article 3, para. (2) of Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the conditions applicable to buyback programmes and stabilisation measures.

 

The buyback programme has as purpose the allocation of own shares to the Company’s employees and managers, as well as members of the Board of Governors, according to the Allocation plan as approved through the Resolutions of the Extraordinary General Meetings of Shareholders no. 6 of April 12, 2017 and no. 1 of April 16, 2018.

 

Adrian Tanase

CEO

 

 



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