Brokerage firm owned by Cristian Sima wants a seat on the board of "Ves" Sighişoara

• Anca Bunea: I have decided to buy 20,000 VESY shares

"WBS România", brokerage firm controlled by Cristian Sima, which holds 11.57% of enameled cookware "Ves" Sighişoara (symbol:VESY) has requested the replacement of a new Board of Administration by cumulating votes. The request of the brokerage firm comes two weeks before the Assembly of the General Shareholder Assembly of "Ves", as an addendum to the shareholder summons posted on the website of the Bucharest Stock Exchange.

The cumulated voting method is beneficial for minority shareholders, allowing them to have representation on the board of the company.

Anca Bunea, general manager of "WBS" România, began buying VESY stock a few weeks ago, when it acquired 5,000 shares for the price of 0.0725 lei/share. Last Friday, she acquired another 4,500 shares for the same price.

"I"ve decided to buy 20,000 shares in VESY, but because I didn"t succeed, I"ve started buying smaller lots", Mrs. Bunea said for our newspaper.

She said that WBS wants the revocation of the board because it failed to meet the "performance criteria" it was set. Cristian Sima resigned at the end of July from his position of chairman of the Board, after the other shareholders voted against his proposal to increase the company"s share capital by 4.3 million lei to help reinvigorate the company. Following his resignation, Mr. Sima was replaced by Alexandru Farca.

"Ves is in a somewhat delicate situation currently, just like most domestic companies. I"m sure that it will get through this situation sooner or later", Mrs. Bunea said.

"Ves" Sighişoara posted a loss of 677,000 lei in H1 2009, (160,000 Euros), after reporting a net profit of 376,000 lei in H1 2008.

At the same time, the company"s turnover dropped 20% y/y in H1 2009, to 12.87 million lei.

33 shareholders of Ves launched a public offer to sell 42.2% of the company, set to expire on November 6th.