27. OWN
SHARES
The
company
has
carried
out
in
the
period
15
–
29.12.2021
a
program
of
redemption
of
its
own
shares
by
public
offering,
according
to
the
A.G.E.A.
Decision
of
04.12.2020:
the
redemption
of
a
maximum
number
of
10,443,797
shares
with
a
face
value
of
0.10
RON/share
representing
maximum
0.48296%
of
the
share
capital,
at
a
maximum
price
of
0.46
RON/share.
The redemption program was carried out through BT Capital Partners S.A., with the following results:
- number of redeemed shares: 10,443,797 (0.4829% of the share capital)
- price: 0.4330 RON/share
- total value of the redeemed shares: RON 4,522,164.10.
These actions were attributed to the personnel identified under the 2021 Stock option Plan.
On
18.08.2022,
Transilvania
Investments
started
the
first
stage
of
the
share
buyback
program,
in
accordance
with
the
Decision of A.G.E.A. no. 1/28.04.2022 and the Decision of the Directorate dated 17.08.2022.
The characteristics of the first stage of the buy-back program are as follows:
- Period: 18.08.2022 – 17.03.2023.
- Number of actions: Maximum 10,000,000 shares.
- Price: The maximum price will be 0.49 RON/share, according to the decision of A.G.E.A. no. 1/28.04.2022.
- Purpose of the program: The company will redeem its own shares for distribution under a Stock option Plan.
- Intermediate: BT Capital Partners.
- Total value of the shares redeemed as of December 31, 2022: RON 2,786,400.
28. BENEFITS GRANTED TO THE SUPERVISORY BOARD MEMBERS, EXECUTIVE BOARD MEMBERS AND COMPANY
PERSONNEL
The
benefits
granted
to
the
Supervisory
Board
members,
members
of
the
Directorate
and
Company’s
personnel
in
the
form
of
equity
instruments
represent
the
value
of
benefits
related
to
their
participation
to
the
benefit
plan
within
Stock
Option Plan programs (SOP), component of the variable remuneration granted in the form of shares.
For
2021,
the
Company
developed
a
benefit
plan
totaling
RON
1,775,050
(the
value
initially
recognized
in
equity:
RON
4,250,000),
for
which
it
has
carried
out
a
program
of
repurchase
of
its
own
shares
by
public
offer
(according
to
the
A.G.E.A. Decision of 04.12.2020) for 10,443,797 shares intended for distribution within the stock option plan program.
In 2022, 50% of the variable cash remuneration for 2021 was paid.
In
December
2022,
10,443,797
shares
were
awarded
free
of
charge,
the
Company
transferring
to
the
identified
staff
the
initial
component
of
the
variable
remuneration
for
2021
consisting
of
50%
of
the
shares
awarded,
the
difference
of
50%
of the shares being transferred to a fiduciary-lawyer.
For
2022,
the
Company
has
a
benefit
plan
in
total
amount
of
RON
9,800,000
(the
value
recognized
in
equity
in
2022
according
to
the
remuneration
policy:
RON
4,611,840)
for
which
it
carries
out
a
program
of
redemption
of
its
own
shares
according
to
the
A.G.E.A.
Decision
of
28.04.2022
for
maximum
20,000,000
shares,
at
a
maximum
price
of
0.49
RON
/
share, shares intended for distribution within the stock option plan program.
