EnglishCar parts maker "Compa" Sibiu (symbol:CMP) will propose to its shareholders, on April 24th, the buyback of a maximum of 10 million of its own shares, namely 4.57% of its share capital, in order to stabilize the stock"s price, after it tumbled recently, according to the notice to attend sent yesterday to the Bucharest Stock Exchange.
Compa"s management wants to buy shares at prices ranging between 0.06 lei and 0.2 lei/share and has 18 months to perform this operation, starting from the date when the announcement gets published in the Official Gazette, subject to the shareholders" approval.
Also, during the same Shareholder"s Assembly, will be discussed the revenue and expense budget for this year, as well as the compensation for managers.
CMP"s average trading price is now 0.086 lei/share, after the price having dropped by over 90%, amid the financial crisis.
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