Romania's SIF Moldova launches second stage of share repurchase programme

SIF Moldova will acquire the shares at a maximum price of 2.2 lei ($0.51/0.46 euro) apiece, the company said in a bourse filing on Wednesday.

The programme will run until February 28 and will be serviced by BT Capital Partners.

The purpose of the programme is to distribute the repurchased shares to employees and managers at the company.

In the first stage of the programme, from September 18 until December 9, SIF Moldova repurchased 2 million own shares for some 3 million lei.

The company's share repurchase plan, adopted by shareholders in April, envisages the repurchase of up to 20 million own shares, of which 15.3 million can be cancelled, while 5 million can be distributed to employees and management.

SIF Moldova managed assets worth some 2.25 billion lei at the end of September, with most of its investments in the financial and energy sectors.

(1 euro = 4.77 lei)