Fort management proposes distribution of dividends and free shares

Andrei Iacomi
English Section / 31 mai

Fort management proposes distribution of dividends and free shares

Versiunea în limba română

The Board of Directors of the cyber security company Fort (4RT) convened the shareholders, on July 2, with the proposal of the distribution of dividends and the allocation of free shares, according to a report of the issuer published, yesterday, on the website of the Bucharest Stock Exchange (BSE).

The proposed dividends are worth one million lei, i.e. a distribution of 38% of last year's net profit, of 2.64 million lei. The unit dividend is 0.99 lei, an amount equivalent to a gross yield of 2.1%, compared to the company's share price as of the middle of this week, of 46 lei.

Also, at the beginning of July, Fort shareholders will have on the table the proposal to increase the company's share capital by one million lei, through the issuance of almost 10.2 million new shares, with a nominal value of 0.1 lei on the title.

"The distribution of the newly issued shares will be done in the proportion of ten free shares for each one share held", it is mentioned in the convening letter.

Fort debuted on the AeRO Market in the middle of this month, following a share capital increase and a private placement in which the company attracted 1.67 million lei. According to the Listing Memorandum drawn up by TradeVille brokers, the company is considering attracting new financing through the capital market, through share capital increases or bond issues.

Fort is part of the Bittnet Group, with Bittnet Systems holding a direct 58.8% stake in the cybersecurity specialist.

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