National Securities Commission analyzed and accepted the amendment proposed by Rompetrol Group to raise the price of the tender offer from 0.0741 lei/share to 0.0750 lei/share, after the bidder bought 3,313,049,000 shares, representing 15.75% of the registered capital of SC Rompetrol Rafinare SA Constanta
National Securities Commission (CNVM) announced on Monday, February 22, retaking the public offer of taking over RRC shares by Rompetrol Group, at a price of 0.0750 lei/share, and reentering those shares to transactions on the Bucharest Stock Exchange.
Iancu Stavrositu, member in the Council Board of Broker's Association and president of SSIF Interfinbrok Corporation, thinks the price of Rompetrol Rafinare shares is a very good one and will bring extra cash on the capital market. According to Stavrositu "the initial price of 0.0741 lei/share has been raised at 0.0750 lei/share, as a result of the special transactions made by Rompetrol Group on February 15, 2010. The new price of tender offer is very good for the minority shareholders, who will get more money in case they decide to sell their shares.
The offer of Rompetrol Group - the major shareholder is addressed to the minority shareholders.
To be clear for everyone, according to the documents, the offer is compulsory for the major shareholder, but the minority shareholders are not obliged to sell at this price."
National Securities Commission analyzed and accepted the amendment proposed by Rompetrol Group to raise the price of the tender offer from 0.0741 lei/share to 0.0750 lei/share, after the bidder bought 3,313,049,000 shares, on February 15, 2010, representing 15.75% of the registered capital of SC Rompetrol Rafinare SA Constanta
At the beginning of February, the Commission approved the price of 0.0741 lei/share, proposed by Rompetrol Group for the public offer of compulso
