Electrica Furnizare
WITH THE GENERAL SHAREHOLDER MEETING OF SIF3 GETTING NEAR
BURSA 21.10.2014

GABRIELA MĂRĂCINEANU (Translated by Cosmin Ghidoveanu)
 
mărește imaginea
     The directorate of SIF3 Transilvania sent a letter to its shareholders explaining the items on the agenda of the shareholder meeting scheduled for October 20th/21st, submitted by Constantin Frățilă, who owns 5% of the company together with other associates.
     Frățilă wants to file a liability lawsuit against Mihai Fercală, the executive president of SIF3, claiming that he did not use the special form required for the power of attorney, in the General Shareholder Meeting of August 11th, as well as for not having published the list of the 63 shareholders that have asked for the dismissal of Frățilă from the Supervisory Board.
     The Board of Directors of SIF3 says that the special power of attorney was validated through court rulings, and its legality was validated by two audits of the CNVM and of the ASF, and of top of that, Constantin Frățilă was elected as member of the Supervisory Board based on the same special power of attorney.
     On the other hand, Mr. Frățilă claims that the ruling that the head of SIF3 is talking was rendered in 2006. He said: "The law has seen amendments since then, and in 2014, Fercală was fined for using this special power of attorney. Wouldn't it have made sense to stipulate this in the letter as well, or is he afraid of raising questions? He even should have mentioned that the ASF has specified that by using that power of attorney, the shareholders' rights have been infringed".
     As for the list of the 63 shareholders, Mihai Fercală, the one who signs the letter says that in order to protect them, he can't disclose their identity. In his opinion, Mr. Frățilă wants to file lawsuits against them.
     Mr. Frățilă reminds of the fact that the ASF has required the directorate to disclose the names of the shareholders who asked for his dismissal. Constantin Frățilă asks: "If the secrecy concerning the identities and the holdings of the shareholders is so important, why didn't Mr. Fercală ask the shareholders who signed alongside with me whether they wanted their names and holdings to be disclosed?"
     Frățilă, who controls 5% of SIF3, is also asking for the cumulative voting method to be included in the articles of incorporation when it comes to the election of the members of the Supervisory Board.
     The executives of SIF Transilvania states that the application of this method was regulated in order to protect minority shareholders from majority shareholders, and since at SIF3 there are no majority shareholders, nor can there be, the implementation of the method is unnecessary and inopportune and it would serve the interests of Constantin Frățilă.
     Mr. Frățilă told us: "The visceral fear of Mihai Fercală when it comes to the Supervisory Board getting elected through the cumulative voting method is obvious, as well as of the secret voting by mail, which would allow shareholders to express their votes directly, without resorting to those special power of attorneys, is obvious. These methods would not allow controlling the voting process, I think that's what it is about. He says that the cumulative vote is not opportune nor necessary, and that having it implemented would serve my interests. Didn't lawmakers know, when they passed the regulation on cumulative voting without exempting the SIFs from it, whether it was opportune or not?"
     The letter sent by SIF3 to its shareholders also states: "All the actions of the Frățilă group are clearly harassment, abuse of dominant shareholder position, the exercising in ill-faith of the rights granted by its shares, going against the legitimate interests of the other shareholders. The contempt the Frățilă group has for the small shareholders of SIF3 is well-known".
     Constantin Frățilă says that, "through this letter, Fercală actually expresses his fear of the items that are on the agenda of the General Shareholder Meetings getting approved. When he speaks about the Directorate or the Supeervisory Board, I think that Mr. Fercală is actually speaking exclusively about himself, and the others are just extensions of himself. He should not forget that nothing and no one last forever."
     Constantin Frățilă and Mihai Fercală have been involved in an open conflict for a few months, each one trying to outdo each other in statements, accusations, proposals for the General Shareholder Meetings and lawsuits.
     After the confrontation in the SIF3 General Shareholder Meeting of August, when Mihai Fercală came out the winner, and Frățilă was dismissed from the position of member of the Supervisory Board, the two are set to clash again, in the General Shareholder Meeting of October 20th and 21st, where the shareholders will have to decide on filing a liability lawsuit against the following SIF3 Directorate members: Mihai Fercală, Iulian Stan (executive vice-president and deputy CEO) and Mihăilă Ion (former executive vice-president), who, according to the group formed around Frățilă, have exceeded their duties. 
 

 
Readers' comments    [ add a comment ] 
Aceeasi sectiune (English Section)
AT THE INVESTIGATIVE COMMISSION OF THE ACTIVITY OF THE ANRE
RADU CRĂCIUN, APAPR, ABOUT THE INVESTMENT OF PRIVATE PENSION FUNDS IN DIGI, A COMPANY WHICH HAS CRIMINAL ISSUES:
UNICREDIT WARNS THAT THE ROMANIAN GOVERNMENT IS REPEATING MANY OF THE MISTAKES THAT HAVE LED TO THE RECESSION OF 2009-2010
AFTER BEING FORCED TO MOVE THE BRD NĂSTASE ȚIRIAC TROPHY TOURNAMENT TO BUDAPEST
THE CONFERENCE "THE FUTURE OF THE ROMANIAN CAPITAL MARKET" - THE 6TH EDITION/MIRCEA URSACHE, ASF:
FINANCE MINISTRY LAYS GROUNDWORK FOR BUYING GOVERNMENT BONDS DIRECTLY THROUGH THE TREASURY
Actualitate - vezi toate știrile mai jos.
Bănci-Asigurări, 13:13
     * Dolarul a câștigat 0,93 bani în fața monedei naționale
     * Francul a urcat la 3,9799 lei
       Banca Națională a României (BNR) a anunțat, astăzi, un curs de referință de 4,5841 lei pentru moneda europeană, în creștere cu 0,39 bani, comparativ cu ședința de ieri, când euro a fost cotat la 4,5802 lei.  detalii
Companii-Afaceri, 10:20
     * ACTUALIZARE 11:43 Ministrul Turismului: "Cazul Omnia Turism, cea mai mare pagubă în turism după Revoluție"
     Cazul Omnia Turism este cea mai mare pagubă în turism de după Revoluție, a anunțat astăzi ministrul Turismului, Mircea Titus Dobre, care a precizat că ANAF va face în perioda următoare un control la agenția de turism.
     -----
     Cei 80 de turiști români blocați în străinătate, în urma problemelor apărute la agenția Omnia Turism, vor fi aduși în țară, iar ministrul Turismului le recomandă celor care au cumpărat pachete prin această agenție să nu mai plece în acele călătorii, potrivit unui comunicat al Ministerului Turismului trimis Redacției.  detalii
Companii-Afaceri, 13:33
     Compania britanică DS Smith a anunțat miercuri achiziționarea producătorilor români de ambalaje din carton EcoPack și EcoPaper, pentru o valoare de antrepriză de aproximativ 208 milioane de euro (244,6 milioane de dolari), în vederea extinderii prezenței în Europa de Est, potrivit unui comunicat de presă al companiei.  detalii
Companii-Afaceri, 13:30
     Noua conducere a Autorității Naționale de Reglementare în domeniul Energiei (ANRE) a fost votată astăzi de plenul reunit al Camerei Deputaților și Senatului.  detalii
Companii-Afaceri, 12:44
     Grupul Telekom Romania a anunțat astăzi lansarea serviciului financiar digital Telekom Banking, dezvoltat împreună cu banca poloneză Alior Bank, care va permite clienților retrageri gratuite de la orice ATM din țară și din străinătate, timp de trei ani , potrivit unui comunicat de presă trimis Redacției.  detalii
Ediții precedente
Newsletter Facebook Twitter YouTube LinkedIn RSS
Jurnal Bursier
18.10.2017
BVB
     * Creșteri pe linie pentru toți indicii bursei
     * Acțiunile "Impact Developer & Contractor" înregistrează un salt de 3,04%
       După evoluția mixtă de luni a indicilor Bursei de Valori București (BVB), ședința de tranzacționare de ieri a fost marcată de creșterea generală a pieței, în contextul unui rulaj de aproape 24...  detalii
18.10.2017
BURSELE DIN LUME
     Acțiunile tranzacționate la bursele din Europa au scăzut ieri, în majoritate, în special cele din sectorul auto, din cauza slăbirii cererii din domeniu.  detalii
17.10.2017
BVB
     * Titlurile "Fondul Proprietatea" conduc topul lichidității
       Săptămâna de tranzacționare a debutat cu un rulaj de 32,54 milioane de lei, superior celui înregistrat vineri, de circa 23 milioane de lei, în contextul în care cinci dintre indicii Bursei de...  detalii
16.10.2017
BVB / ÎN ULTIMA ȘEDINȚĂ A SĂPTĂMÂNII,
     * Dragoș Mesaroș, "Goldring": "După demisiile miniștrilor, de joi seară, probabil că investitorii au prins curaj, intrând la cumpărare"
       Ultima ședință de tranzacționare a săptămânii a încheiat în teritoriul pozitiv, toți indicii Bursei de Valori București (BVB) marcând creșteri.  detalii
16.10.2017
BURSELE DIN LUME
     Acțiunile tranzacționate pe piețele europene au înregistrat creșteri vineri, în baza evoluțiilor de pe segmentul materiilor prime.  detalii
13.10.2017
BVB
     * Avans de 0,26% pentru BET-NG
       Piața Bursei de Valori București (BVB) a înregistrat, în penultima ședință de tranzacționare a săptămânii, o lichiditate de doar 20,72 milioane de lei (4,51 milioane de euro), sub rulajul de...  detalii
Cotații Internaționale

Curs Valutar

Curs valabil din data de 17 octombrie 2017
1 Dolar australian...
1 Leva bulgărească...
1 Dolar canadian....
1 Franc elvețian...
1 Coroană cehă...
1 Coroană daneză...
1 Liră egipteană...
1 Euro...
1 Liră sterlină...
100 Forinți maghiari...
100 Yeni japonezi...
1 Leu moldovenesc...
1 Coroană norvegiană...
1 Zlot polonez...
1 Rublă rusească...
1 Coroană suedeză...
1 Liră turcească...
1 Dolar S.U.A...
1 Rand sud-african...
1 Real brazilian...
1 Renminbi chinezesc...
1 Rupie indiană...
100 Woni sud-coreeni...
1 Peso mexican...
1 Dolar neo-zeelandez...
1 Dinar sărbesc...
1 Hryvna ucraineană...
1 Dirham emirate arabe...
1 Kuna croată...
1 Bahtul thailandez...
1 Gram aur...
1 DST...
AUD
BGN
CAD
CHF
CZK
DKK
EGP
EUR
GBP
HUF
JPY
MDL
NOK
PLN
RUB
SEK
TRL
USD
ZAR
BRL
CNY
INR
KRW
MXN
NZD
RSD
UAH
AED
HRK
THB
XAU
XDR
3,0589
2,3419
3,1070
3,9868
0,1778
0,6153
0,2206
4,5802
5,1608
1,4882
3,4723
0,2231
0,4911
1,0825
0,0679
0,4784
1,0651
3,8939
0,2911
1,2277
0,5882
0,0600
0,3442
0,2044
2,7972
0,0384
0,1465
1,0601
0,6102
0,1176
161,4840
5,4946
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
click aici pentru cursurile pieței valutare - istoric
English Section
16.10.2017
EXCLUSIVE
     * "The US and Saudi Arabia - the main sponsors of terrorism in the world"
     * (Interview with His Excellency, Mr. Hamid Moayyer, ambassador of the Republic of Iran in Romania)
       Donald Trump, the United States president, must decide by October 15th whether or not he will certify if Iran has followed the terms of the nuclear agreement signed in 2015 by Iran and six major western powers.  details
12.10.2017
EARTHLY LAWS, IGNORED ON THE BSE PLANET
     The Bucharest Stock Exchange (BVB), the operator of the Romanian capital market, still stands by the nonsensical claim made by its former CEO Ludwik Sobolewski, that his contract expired on August 21st, but not his mandate.  details
12.10.2017
AT THE INVESTIGATIVE COMMISSION OF THE ACTIVITY OF THE ANRE
     * Sources: PSD has four names for the head of the ANRE
     * Rumored names: Florentin Pandele, mayor of Voluntari, Iulian Iancu, president of the Industries Commission, former prime-minister Sorin Grindeanu and deputy Eugen Nicolicea
       Niculae Havrileț, the president of the National Authority for Regulation in the Energy Sector (ANRE), together with other members of the Regulatory Committee of the ANRE, will arrive before the Commission for the Investigation of the activity of the ANRE.  details
11.10.2017
RADU CRĂCIUN, APAPR, ABOUT THE INVESTMENT OF PRIVATE PENSION FUNDS IN DIGI, A COMPANY WHICH HAS CRIMINAL ISSUES:
     Mandatory private pension funds which have invested in Digi Communications, the parent company of RCS&RDS, which was indicted on money laundering and offering bribes, have taken this operating risk into account, by offering a lower price in the IPO, Radu Crăciun, member on the Board of Directors of the Romanian Association of Privately Managed Pensions (APAPR).  details
09.10.2017
     President of BURSA Press Group, Florian Goldstein (MAKE), participated, as speaker, on September 26th, at a debate regarding the future of the European Union, in Brussels, at the invitation of Group of the European People's Party.
     The subject of the debate can be synthesized in four questions:
     1. Would it be recommendable for the EU Non-Eurozone States to adopt Euro currency?(...)
     -------------
     Question nr.1 answers given by my fellow citizens are divided, and this summer polemic between the Euro MP Theodor Stolojan and Daniel Daianu (member of the Romanian National Bank Board of Directors) in the financial newspaper BURSA has shaped up the idea we could adopt Euro anytime (given the condition of maintaining the macroeconomic balances), an idea opposed to the one claiming Euro adoption should wait till the convergence criteria would be fulfilled.  details
09.10.2017
UNICREDIT WARNS THAT THE ROMANIAN GOVERNMENT IS REPEATING MANY OF THE MISTAKES THAT HAVE LED TO THE RECESSION OF 2009-2010
     * Vasilescu: "There are many crystal ball readers, even in the banking system"
     * UniCredit estimates that the leu will continue to weaken against the Euro to 4.6-4.7, in the first quarter of 2018, and that the policy rate will increase to 2.5%
       UniCredit Bank analysts are issuing a warning that the Romanian government is repeating many of the mistakes that have led to the recession of 2009-2010. The quoted experts are mentioning both the fiscal policy that is risky for the economy, as well as the fact that the leu will significantly weaken in 2018, and the deficit may increase to 3.7%. Among other things, the UniCredit report issued on Friday predicts an EUR/RON exchange rate of 4.7 and a policy rate of 2.5%, for the beginning of next year.  details
05.10.2017
AFTER BEING FORCED TO MOVE THE BRD NĂSTASE ȚIRIAC TROPHY TOURNAMENT TO BUDAPEST
     * Ilie Năstase: "If I was Țiriac, I would sue Mugur Isărescu"
       PNL senator Daniel Zamfir, president of the Budget Commission in the Senate, a vocal critic of the banking system, of the NBR and of its governor is adamant about bringing up the activity of the NBR from all angles.  details
03.10.2017
     * The BSE may be taken off the watchlist
     * FTSE only noted improvements when it comes to stock lending, while the liquidity requirement has not yet been met
     * Poland, upgraded to the emerging market status
     * Mongolia and Nigeria, removed from the watchlists
       The Bucharest Stock Exchange (BSE) remains a frontier market, for at least a year, after, on Friday night, FTSE Russell did not give promote it.  details
02.10.2017
     * Iulian Iancu: "We shouldn't stand out by being silent in Brussels and be forced to give natural gas to the neighboring countries, by taking it away from our industrial consumers"
     * Emil Calotă: "If we do not take action, the natural gas stored by the Romanian producers will remain unused, because there will be far cheaper imported gas available"
       The National Authority for the Regulation of the Energy Market (ANRE) has asked for the reconsideration of gas storage policies in Romania to be made a priority, Emil Calotă, the vice-president of the ANRE recently said, in the debates in the Industry Commission of the Romania Parliament about the Draft Law concerning the approval of the Government Emergency Ordinance no.64/2016 for the amendment and completion of the Law of Electricity and of natural gas no. 123/ 2012.  details
29.09.2017
LUCIAN ANGHEL:
     We can't expect Romania to be upgraded to the emerging market status right now, BSE president Lucian Anghel said yesterday, as FTSE Russell will publish today its annual classification report.  details
28.09.2017
     Central European Media (CME), the owner of Pro TV, is currently in negotiations to sell the four TV stations it still holds in Central and Eastern Europe, according to Echo 24, which quotes several concerned sources.  details
27.09.2017
     The Romanian Commercial Bank (BCR) is saying for the first time, that the sale of the Cemacon was made at a price of 1 Euro, and the lender stressed that this was done to save the company.  details
26.09.2017
THE CONFERENCE "THE FUTURE OF THE ROMANIAN CAPITAL MARKET" - THE 6TH EDITION/MIRCEA URSACHE, ASF:
     * Cappon, Prodan and Sobolewski yesterday had their interviews for the position of CEO of the BSE
     Ludwik Sobolewski is no longer the CEO of the Bucharest Stock Exchange (BVB), Mircea Ursache, the vice-president of the Financial Oversight Authority (ASF) said yesterday. He added that the ASF has conducted an analysis concerning corporate governance at the BSE.  details
25.09.2017
FINANCE MINISTRY LAYS GROUNDWORK FOR BUYING GOVERNMENT BONDS DIRECTLY THROUGH THE TREASURY
     The Ministry of Public Finance (MFP) has created the legal framework which will allow it to sell government bonds to the population directly through the State Treasury and intends to use that system for the next issue aimed at individual investors as early as this year, according to market sources.  details
21.09.2017
ANDRE CAPPON, CBM GROUP:
     Andre Cappon, the president of the CBM, Inc. group of New York, comes with a different perspective on the future development of the Bucharest Stock Exchange than that of the current management of the market operator. In his opinion it would be better for the BSE to remain one of the best frontier markets than joining the emerging market and then be demoted, as he told us in an interview.  details
.