EnglishThe Board of Directors of SIF "Oltenia" will be summoned on September 24th, to appoint a new interim manager for the company, after Margareta Racoviţă resigned, according to a communiqué sent to the Bucharest Stock Exchange. Margareta Racoviţă joined the management of SIF5 in the beginning of 2009.
Potential candidates for the position of administrator of SIF "Oltenia" can submit their applications by September 22nd.
Among other requirements, the candidates must have "a good reputation" and "enough experience to ensure the safe and prudent administration of the investment management company", as per the Regulation of the Romanian National Securities Commission no.15/2004.
Two of the current administrators of SIF5, Dinel Staicu and Ioana Popescu are defendants in the "Transgaz" lawsuit, which had a hearing yesterday at the court of the Second District of Bucharest. The current chairman of SIF "Oltenia" has already been sentenced to four years in prison for the defrauding of the "international Bank of Religions" but the Board of Directors of the company decided that there was no need to summon a General Meeting of Shareholders to appoint new administrators in the stead of the two administrators who were indicted.
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