A group of minority shareholders of Banca Transilvania (TLV),among which financial investment companies SIF Banat-Crisana(SIF1), and SIF Oltenia (SIF5) ask that the members of the Board ofDirectors be elected via cumulative voting, at the General Meetingof Shareholders on 28th of April.
The two SIFs are this way seeking to maximise their chances ofhaving a representative in the management of the Cluj-based bank,and support the candidacy of Gabriela Grigore, deputy generalmanager of SIF Banat-Crisana, who has also represented the SIFswithin TLV in the last four years. On the other hand, Costel Cocea,president of SIF Moldova (SIF2), has also submitted his candidaturefor a seat in the Board. SIF1 and SIF5 each control 4.5% in TLV,while SIF2 currently holds 3.85% after buying shares from themarket over the last few months.
"We are seeking to make sure we will be represented in themanagement of Banca Transilvania, as we have so far. We are notunhappy with the activity of the current management," said TudorCiurezu, vicepresident of SIF Oltenia.
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