UniCredit Ţiriac Bank minority shareholders call for listing on brokers' alternative system

A group of minority shareholders is asking UniCredit Ţiriac Bank for the possibility of listing the 4.5% stake in the lending institution's capital held by minority shareholders on brokers' alternative trading system (Romanian Over the Counter-ROTC), in order to give the over 4,000 historic shareholders the chance of exiting the shareholder structure.
The several thousand people that in the early '90s subscribed cash in the setting up of Ţiriac commercial bank have now become "captive" shareholders, considering that since acquiring the bank in 2006, the majority shareholder, UniCredit Bank of Austria, did not come up with any tender offer for them, and selling the shares on the free market is difficult as the bank is not listed.
A solution that could solve this situation amiably, considering some shareholder chose to go to court to recoup their damages, is for the 4.5% stake in UniCredit Ţiriac held by minority shareholders to be listed on the ROTC, believes Maniu Costel Popescu, a shareholder in the bank.
"(...) We've talked with the bank representatives and they answered us they were analysing our demands," Maniu Costel Popescu said.