8 Decembrie 2009
Generali PPF pays 1.3 billion lei to Ardaf minority shareholders
Generali PPF, majority shareholder of Ardaf, will pay some 1.3 billion lei to minority shareholders, as part of the insurer’s efforts to pull out of Rasdaq listing, the company said in filing to Bucharest Stock Exchange (BSE).
Minority shareholders own collectively 1.08% of the company, or 11.8 million shares. The minority shareholders will thus receive 0.11lei per share.
The Romanian National Securities Commission (CNVM) approved a week ago Generali PPF’s request to drop Rasdaq listing of Ardaf shares. Generali PPF holds 98.88% of Ardaf.
The insurer reported gross premiums written of 244.9 million lei in the nine months through September 2009, 14% below year-ago level of 285.7 million lei. The drop in GPW has led to 69.84 million lei loss, 37.5% more than the same period of last year.
The Romanian National Securities Commission (CNVM) approved a week ago Generali PPF’s request to drop Rasdaq listing of Ardaf shares. Generali PPF holds 98.88% of Ardaf.
The insurer reported gross premiums written of 244.9 million lei in the nine months through September 2009, 14% below year-ago level of 285.7 million lei. The drop in GPW has led to 69.84 million lei loss, 37.5% more than the same period of last year.