We continue our series of articles about the capital increase through cash contribution, and today we will be more precisely discussing the stages 2P shareholders can experience during the increase. Last week I invited Rareș Mihăilă to an interactive webinar in which he explained in detail what this type of capital increase entails; if you didn’t have time to watch the interview you can read a summary of it here, or you can listen to the webinar at any time here.
What are pre-emption rights and how do they work?
If you were among our shareholders on April 7, you must have noticed that pre-emption rights appeared in your trading account under the symbol 2PR01. The preference rights were granted according to a simple formula: for each share held a preference right was offered free of charge. These rights allow you to participate in the 2Performant capital increase and could also be traded after the company receives the FSA approval on the said capital increase. We still do not have a specific date for it, but once we do, we’ll announce it through a report, on social media, and through our investor-dedicated newsletter. Preference rights can be traded through any brokerage house.
The capital increase is an extremely good opportunity for all 2P shareholders and you can take advantage of it in two ways, either by subscribing to the 25% offer or by selling the preference rights received. We recommend you choose one of the above-mentioned options, and if it is still not clear enough why we are doing the capital increase and what our investment plans are, then you can find here an extremely detailed article.
What do you have to do if you are a shareholder and want to participate in the capital increase?
If you want to continue investing in 2P and be with us in our company’s next developmental stage, then you can keep the preference rights received and you can buy additional ones during the corresponding trading period. To subscribe a new share, you will need 5.68424 rights for each new share. The shares can be subscribed during the preference rights validity period with a 25% discount compared to the average price of the 30 days before the submission date of the final capital increase file to the FSA. The price will be set soon, and after receiving the approval from the FSA we will promptly let you know.
What happens if you are a 2P shareholder and do not want to participate in the capital increase?
If you do not want to participate in the capital increase, you still have a chance to take advantage of this important event and sell the preference rights received. The preference rights will be traded in the first period of the capital increase, at the market price, as it happens with all shares on the BSE; this way you can quite easily get a profit from the preference rights.
If you do not want to participate in the capital increase and you do not intend to sell any of your preference rights, you will likely lose a chance to make a profit and you will have diluted your stake after the capital increase completes.
When will the free shares be granted?
As you well know, the GMS of 23.04 has approved the granting of shares at a 4-free-shares- to-1-share-held ratio, only that the granting of free shares will only take place after the completion of the current capital increase through cash contribution so that all participants can receive free shares. The date on which the granting of free shares will take place will be announced through an upcoming report and our dedicated newsletter, so we recommend that you subscribe to it here.
Thank you for following us and for being with us for the upcoming capital increase through cash contribution which we set up to attract 5 million lei meant to finance our growth plans on the Romanian market and our external markets’ expansion.