Monday's transactions, whereby the Rompetrol group took over 15.7% of Rompetrol Rafinare (RRC) from a group of 25 minority shareholders will be considered as being part of the takeover offer that Rompetrol and Kazakh group KazMunaiGaz also launched on Monday, which targeted a 24% stake in RRC, CNVM (National Securities Commission) decided yesterday.
CNVM is in this way seeking to recover around 1.1 million euros in commissions it should have collected if the transaction had occurred as part of the offer. According to the regulation in force, CNVM collects 2% of the value of shares sold as part of the offer. On the other hand, for transactions sealed on the Stock Exchange, the Commission only collects 0.08% of their value. From Monday's 60 million-euro transfers, CNVM would have collected only 50,000 euros, as opposed to 1.2 million euros if the transactions had occurred as part of the offer.
Monday's transactions, whereby the Rompetrol group took over 15.7% of Rompetrol Rafinare (RRC) from a group of 25 minority shareholders will be considered as being part of the takeover offer that Rompetrol and Kazakh group KazMunaiGaz also launched on Monday, which targeted a 24% stake in RRC, CNVM (National Securities Commission) decided yesterday.
CNVM is in this way seeking to recover around 1.1 million euros in commissions it should have collected if the transaction had occurred as part of the offer. According to the regulation in force, CNVM collects 2% of the value of shares sold as part of the offer. On the other hand, for transactions sealed on the Stock Exchange, the Commission only collects 0.08% of their value. From Monday's 60 million-euro transfers, CNVM would have collected only 50,000 euros, as opposed to 1.2 million euros if the transactions had occurred as part of the offer.