RAIFFEISEN BANK S.A.

  |  2013-03-27

Romanian Daily Report - March, 27

SIF Muntenia added new topics on GSM agenda; Ropharma intends to initiate a share repurchase program for up to 10% of the share capital; Two shareholders of Impact will be facing forced execution with the sale of a block of 26% of the share capital of the company; Rompetrol Well Services proposes to pay a 2012 DPS of RON 0.029

SIF Muntenia added new topics on GSM agenda
SIF Muntenia (SIF4) has added new topics on the incoming GSM agenda, as requested recently by a group of shareholders. Thus, the shareholders will vote on the proposals to revoke the current Board of Nominees and to elect new members. We view this piece of news as neutral for SIF4 shares.

 

Ropharma intends to initiate a share repurchase program for up to 10% of the share capital
Pharmaceutical retailer and distributor Ropharma (RPH) called an EGSM for April 29, 2013 when shareholders are asked to approve among others the initiation of a shares repurchase program of up to 10% of the share capital. The program should span over one year. RPH intends to distribute the repurchased shares to employees and to the management team.

 

Two shareholders of Impact will be facing forced execution with the sale of a block of 26% of the share capital of the company
Two shareholders of Impact Developer&Contractor (IMP), Popp Ioan Dan and Sandulescu Carmen, will be facing forced execution. They will be required to sell a block of 26% of the share capital of the company, most probably for the repayment of some loans undertook by the two, pledged with the shares. The transaction should take place on March 27, 2013 and it would be completed only if the entire package can be sold.

 

Rompetrol Well Services proposes to pay a 2012 DPS of RON 0.029
Rompetrol Well Services (PTR) has called a GSM for April 30, 2013 and proposed the dividend for 2012. The company intends to pay a 2012 DPS of RON 0.029 which implies a dividend yield of 7.5%. This is based on a pay-out ratio of 37.6% out of the 2012 preliminary results .The ex-dividend date was proposed for May 16, 2013. We were expecting a larger pay-out so we view this piece of news as slightly negative for the stock.

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