The shares were put up for sale on Wednesday through a special order, for the price of 0.155 lei, very close to the last quotation of Tuesday, 0.1552 respectively, but the buying order did not cover the whole package.

Therefore, the titles have been put up again for sale on Thursday, when the price was reduced to 0.1451 lei/share. The quotation was 3.5% under the last price from Wednesday, 0.1503 respectively. At this level, the package was completely subscribed, so the three funds sold the shares for 2.3 million lei.

Considering the price for which the funds sold the shares, the company is evaluated at 28.7 million lei (EUR 6.5 million), and according to the most recent quotation on Stock, of 0.1505 lei/share, the stock exchange capitalization is 29.7 million lei (EUR 6.7 million).

The shares were sold by the funds managed by ING through seven operations.

The decision regarding the sale of the shares came at short time after the General Shareholders Assemble has decided to reduce ten times the social capital from 197.8 million lei to 19.7 million lei. The operation was proposed by one of the significant shareholders of Impact, the businessman Andrian Andrici, who motivated his proposal by the increase of loss registered by Impact as well as by "the need to bring the nominal value of the shares to a level that reflects their current trading value on the capital market ".

Andrici owns 10.69% from the shares of Impact.

The businessman Gheorghe Iaciu is the biggest shareholder of Impact, controlling 29.37% of the shares of the real estate developer.

The revenues of Impact have doubled in the first quarter, from 2.8 million lei to 5.6 million lei, but the company has registered increasing loss from 4.3 million lei to 5.5 million lei. (source: