English
QVT Fund Lp has asked the ASIROM Board to include on the agenda of the Shareholder Meeting scheduled for May 28th a motion to revoke the delisting decision made on March 27th, 2006.
QVT lawyer Cristian Dutescu explained: "We have asked for the revocation of the Shareholder Meeting decision made in March 2006 because the motion to increase the share capital of the insurance company by 55 million RON contradicts the idea to delist it from RASDAQ. If the majority shareholder agrees to keep ASIROM listed and maintain transparency, QVT will consider participating in the capital increase."
The minority shareholder in ASIROM also proposed amendments to the company"s Act of Incorporation so as to achieve compliance with the legal provisions on shareholder registration with the Central Depository and to introduce cumulative voting as the procedure for electing Board members in order to enable minority shareholders to be represented on the Board.
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