AROBS completes the share capital decrease operation and prepares for listing on the Main Market of the BVB
Cluj-Napoca, July 14, 2023 – AROBS Transilvania Software (BVB: AROBS), the largest technology company listed on the Bucharest Stock Exchange, announces that it has successfully registered a decrease in its share capital. Therefore, the new share capital of AROBS stands at 87,129,360.9 lei, now divided into 871,293,609 shares.
The share capital reduction follows the cancellation of 40,101,379 treasury shares. The company acquired these shares before the private placement and the listing on the AeRO market of the Bucharest Stock Exchange at the end of 2021. The shares were supposed to be used for the Stock Option Plan for AROBS employees. Since these shares were not distributed within 12 months from the date of acquisition, their cancellation was required following the applicable law. Thus, each AROBS shareholder will hold 4.6% more of the company’s share capital following this operation.
“I am pleased that we have concluded the share capital decrease, as it was one of the remaining tasks we wished to resolve before transferring AROBS shares to the Main Market of the Bucharest Stock Exchange. In the following period, our focus lies on finalizing and publishing audited IFRS financials for 2021 and 2022, as well as completing the prospect, both of which are scheduled for this month. Thus, until September, we intend to offer our shareholders the opportunity to trade AROBS shares on the Main Market of the Bucharest Stock Exchange,” stated Voicu Oprean, founder and CEO of AROBS.
As a result of this operation, the company’s share capital decreased by 4.4%. The market capitalization of AROBS was 884 million lei as of July 12, 2023. AROBS Transilvania Software has been listed on the AeRO market of the Bucharest Stock Exchange since December 6, 2021.
Also, concerning the transfer to the Main Market of the Bucharest Stock Exchange, AROBS announced the entire acquisition of AROBS Pannonia from Budapest, Hungary, specialized in fleet management and custom software development at the beginning of this month. AROBS Pannonia Software currently has over 20 specialists, and since the debut of its activity in 2011, the team has delivered fleet management services to over 1,000 clients in Hungary. AROBS Transilvania Software will include the company’s financial results in the consolidated financial statements as of Q3 2023.