MedLife shareholders approve capital increase and elect new board members

MedLife (M), the biggest private medical services provider in Romania, will increase its capital by RON 27.68 million (EUR 5.7 mln) to RON 33.2 mln (EUR 6.85 mln) by incorporating its reserves, the company’s shareholders decided on Tuesday, December 15.

The company will issue 110.7 million new shares with a face value of RON 0.25 per share, which will be distributed for free to the shareholders.

Each shareholder will thus receive five new shares for each share they hold at the registration date (January 4, 2021).

The operation theoretically has no impact on the company’s overall market value, which means that the price of the company’s shares should adjust accordingly, from the current level of close to RON 50 per share to around RON 8.3 per share, after the registration date.

MedLife’s shareholders also elected a new Board of Directors to lead the company in the next four years.

MedLife founders Mihai Marcu and Nicolae Marcu keep their seats in the board, alongside Dorin Preda, Dimitrie Pelinescu Onciul, and Ana-Maria Mihaescu.

The shareholders also elected three new board members: Ovidiu Fer, Voicu Cheta, and Stefan Alexandru-Frangulea.

The board members will get a net retribution of EUR 5,000 per month while the president of the board will get EUR 7,000 net per month.

(Photo courtesy of the company)