EVERGENT Investments shareholders have approved by large majority all the resolutions on the agenda of the Extraordinary and Ordinary Meetings of Shareholders.
The main resolutions have been: the approval of dividend distribution from the net result of the financial year ended on 31st December 2020, conducting a new buy-back program of own shares, decreasing the social capital and the approval of both individual and consolidated financial reports for the financial year ended on 31st December 2020.
EVERGENT Investments, which distinguishes itself through a private equity type of investments, continues to apply a remuneration policy for its investors focused on a mix of dividends and new buy-back programs, resulting in a superior yield of the invested capital.
Therefore, it has been approved the dividend distribution for the year 2020, with a gross value of 0,043 lei/share, accounting for nearly 75% of the net result registered in 2020, consisting of the net profit and net gain from the selling of assets. The dividend payment date is June, 11th 2021. Also, it has been approved a new buy-back program of maximum 19 625 000 shares, representing 2% of the share capital. The shares can be bought-back at a minimum market price per share on the BSE from the moment the purchase is made, but which will not exceed the maximum price of 2 lei/share.
As a result of the approval of the buy-back program of own shares in 2020 and finalized in March 2021, it has been decided the reduction of the share capital in the meeting today, April 29th 2021. Thus, the share capital of EVERGENT Investments SA will be diminished from 98.947.917,60 lei to 98.121.305,10 lei, by 826.612,50 as a result of the cancellation of a number of 8.266.125 own shares acquired by the company.
“We have ended the year 2020 exceeding the targets, as demonstrated by the individual and consolidated reports. The net result is 44% higher than the one estimated, and investments reached 177 million lei, 68% more than we proposed with the necessary prudence in a year marked by the pandemic. Also, we remain the listed investment company with the greatest capitalization, of over 1,4 billion lei.
Between April 2020 and April 2021, a volume of around 150 million shares were traded, with a value of about 200 million lei out of 7965 transactions. As a result of the analysis of the previous buy-back program indicators, phase March, 2nd – March, 22nd 2021, it has been noted the increase of EVERGENT Investments capitalization with 9,9% based on the decrease in the number of tradeable shares by around eight million. The new buy-back program of EVER shares will have a positive impact on the liquidity and the reduction of the discount related to the net asset value per share. We are on an upward trend and we continue to adapt to the market changes, having as our main objective the multiplication of capitals for our shareholders.” stated Claudiu Doroș, President CEO of EVERGENT Investments.