EnglishThe National Securities Commission (CNVM) has put the shares newly issued by SIF Transilvania within the share capital increase on hold for another two weeks effective as of January 5th on the count of the litigation between the financial investment firm and the managing director of Cocor SA, Daniel Stoica, who filed for the annulment of the share capital increase. The next court hearing on this matter has been set for January 16th. The 546 million new shares issued by SIF Transilvania following the capital increase have been blocked from trading on the Bucharest Stock Exchange (BSE) since July 21st. SIF Transilvania shareholders in April renounced gross dividends of 0.0630 RON/ share in exchange for a free share within the share capital increase by 54.6 million RON to 109.21 million RON. The operation was delayed by the lawsuits filed by shareholders Cocor Turism Bucharest, Daniel Stoica and Teodor Moise, who contested the capital increase procedure. As the litigation is still in progress, CNVM suspended SIF Tansilvania shares from trading on BSE.
CNVM Keeps New SIF Transilvania Stock On Hold For Another Fortnight
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Ziarul BURSA #English Section / 8 ianuarie 2008
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