Impact plans to release rights issue

Constructions and real estate development company Impact Bucharest will be the first company listed on the Stock Exchange whose shareholders will be able to sell their rights to subscribe during a capital increase, that is the so-called preference rights, on the capital market. The right to subscribe during the capital increase of a listed company benefits investors most of the times. Until now, they had no way to make money off this right unless they had the cash to participate in the increase. Impact wants to increase its share capital by 75.5bn ROL (1.9 million euros) by issuing shares offered for purchase to its shareholders. The shares will be made available for 2,000 ROL, twice higher than the par value, with the company raising 151bn ROL (3.8 million dollars). Impact’s shareholders will, however, be allowed to sell their right to participate during the increase on the Stock Exchange. ZF