Bucharest Bourse Temporarily Rejects Share Capital Slash Talks

04.18.2011 By Andrei Circhelan

The managing board of Bucharest bourse operator BVB (BVB.RO) Monday said it has rejected several meeting agenda amendments for April 29-30, thus temporarily opposing talks on the reduction of share capital and increase of dividend.

The managing board of Bucharest bourse operator BVB (BVB.RO) Monday said it has rejected several meeting agenda amendments for April 29-30, thus temporarily opposing talks on the reduction of share capital and increase of dividend.

The board kept unchanged the meeting agenda for April 29-30, adding the share capital reduction propositions will be included on the agenda for the next meeting.

Several minority shareholders, including Fondul Proprietatea (FP.RO) manager Franklin Templeton, Brokers Association president Dan Paul and other banks and brokers, requested last week the reduction of share capital to 38.3 million lei (EUR1=RON4.0966) from RON76.7 million, and the payment of additional dividend.

BVB shares were down 0.12% early Monday, to RON42.7.