Romania’s Financial Supervisory Authority approves the transfer of AROBS shares on the Main Market of the Bucharest Stock Exchange

AROBS Transilvania Software (BVB: AROBS), the largest technology company listed on the Bucharest Stock Exchange, announces that the Financial Supervisory Authority (ASF) has approved the prospectus for the admission to trading of AROBS shares on The Main Market of the Bucharest Stock Exchange.

"The transfer to the Main Market of the Bucharest Stock Exchange represents one of the major objectives we have announced at the company listing on the AeRO market. In the following period, we will focus on completing the last formalities in this direction, and we target the date of September 25 as the debut of AROBS shares on the Main Market. We want to assure the investors who follow us that the transfer is only an intermediate step in our plans. We don't stop here and are already working on achieving the following objectives on the capital market: entry into local and regional indices and attracting institutional investors through a share capital increase. Another important moment for us in the last months was the inclusion of AROBS shares in the MSCI indices. This validates our financial and operational performance and supports us in AROBS's strategy to improve the liquidity of its shares and attract international institutional investors", stated Voicu Oprean, founder and CEO of AROBS.

On August 10, 2023, Morgan Stanley Capital International (MSCI) announced the inclusion of AROBS shares in the MSCI Frontier Markets Small Cap index and the MSCI Romania Small Cap index as of August 31, 2023. The inclusion of the company's shares in these indexes represents a significant moment for AROBS and attests to its solid performance and growth potential. Moreover, in August this year, Wood & Company and BRK Financial published a buy recommendation for AROBS shares within their research coverage reports.

AROBS began the transfer procedures to the Main Market this year, the most important and challenging step in this endeavor being the translation of the financial statements into IFRS format. At the end of July, the company published the financial results audited according to IFRS standards for 2022, 2021, and 2020. Thus, according to the mentioned financial statements, AROBS recorded in 2022, at the consolidated level, a turnover of 299.8 million lei, a 61% increase compared to 2021, normalized EBITDA of 76.3 million lei, +35% compared to 2021, and a normalized net profit of 53.1 million lei, a 15% appreciation compared to 2021. Normalized EBITDA represents EBITDA without the non-cash impact of the Stock Option Plan (SOP), and normalized net profit excludes the effect generated by SOP programs. The financial results for the first half of 2023 will be published on September 28.