IMPACT Developer & Contractor runs between 04.01.2022 – 21.01.2022 a Capital Increase of up to RON 245 million (EUR 50 million) through Private Placement

Mihai-Alexandru Cristea 04/01/2022 | 10:07

Impact Developer & Contractor, the first real estate developer listed at Bucharest Stock Exchange (stock symbol IMP) announces the development between 04.01.2022 – 21.01.2022 of a capital increase of maximum 245 million lei by issuing up to  350 million shares, at the price of 0.70 lei/share, through Private Placement.  

 

The new issue of share capital increase aims to support the development strategy for the next 6 years, a strategy that aims the development of 1.25 million sqm of residential constructions, with an estimated market value of approximately 1.4 billion EUR. The new residential projects will be developed on large areas of land, in unique and remarkable locations, with green neighborhoods, built to nZEB and BREEAM Excellent standards, using sustainable principles and technologies, respectively using alternative energy sources, “smart city” solutions, electric mobility solutions.

„We start 2022 in full force and we intend to capitalize on the excellent moment we are in after the shareholders have approved the ambitious development strategy that we proposed, focused on large and sustainable projects.”, says Constantin Sebeșanu, CEO of Impact Developer & Contractor.

Currently, the company owns over 73 hectares of land in Bucharest, Constanta and Iasi, on which it develops 6 projects: GREENFIELD Baneasa, GREENFIELD West, LUXURIA Expozitiei and LUXURIA Verdi Parc, in Bucharest, BOREAL Plus in Constanta and GREENFIELD Copou in Iasi.

In addition, the company aims to increase the free-float and liquidity of the share on the Bucharest Stock Exchange. IMP shares closed the last trading day of the year at the price of 0.7 lei/share, after an advance of 123% in 2021, on increasing volumes.

The start of the capital increase through a private placement is based on the decision of the Extraordinary General Meeting of Shareholders on 20.08.2021, which approved the increase of the company’s share capital, by cash contribution, through one or more issues of new ordinary shares, with a maximum number of 775 million new shares. The final number of new shares by which the share capital will be increased within the new private placement will be established following its development and completion, by the decision of the Board of Directors which will ascertain the number of shares subscribed and which will approve the amendment of the articles of incorporation of the Company accordingly.

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