Matej Rigelnik: "The performance of Fondul Proprietatea makes it difficult to justify the proposal to revoke some members of the Board of Representatives”

Matej Rigelnik, chairman of the Board of Representatives of Fondul Proprietatea and CEO of Equinox d.d., told the BURSA newspaper that the proposal of the Ministry of Finance to revoke two members of the Board is difficult to justify in the context of the results obtained in recent months

"First of all, it is important to emphasize that the current direction of Fondul Proprietatea was established democratically, through the vote of shareholders at the General Meetings in September and November, when retail investors played a decisive role. This direction has generated measurable results, beneficial for all shareholders, including the Romanian State, as the largest shareholder”, stated Rigelnik.

He showed that, since April last year, the Fund has undergone a profound transformation, reflected both in the evolution of the share price and in the reduction of the discount to the value of assets. "We are not talking about promises or intentions, but about demonstrated performance. The value of the investment has increased substantially, and market confidence has been regained. These results have had a direct and positive impact on the value of the state's participation”, emphasized the chairman of the Board of Representatives.

In this context, Matej Rigelnik warns that the initiative to revoke some members of the Board of Representatives risks sending a signal of instability, precisely at a stage in which the Fund is in a process of consolidating the results obtained. "Members such as Istvan Sarkany and Florian Munteanu are not simple names on a list, but ensure an essential balance between the strategic vision and the protection of the interests of all shareholders. A possible revocation, in the absence of a solid justification, could undermine the progress achieved so far. Axor Holding and Equinox, which represent the largest private shareholder of Fondul Proprietatea, support these members and will not vote for their revocation”, declared Rigelnik.

At the same time, Rigelnik insisted that his position is not one of confrontation with the state. "We are not in opposition to the Romanian State. On the contrary, we consider it an essential partner. However, a genuine partnership requires coherence, mutual respect and transparent governance. The current direction of the Fund reflects these principles and is supported by the shareholders who imposed it,” he explained.

The Chairman of the Board of Representatives also showed that the retail shareholders remain united around the mandate granted last fall: "The voice of individual investors has been, for the first time in a long time, truly integrated into the decision-making process. To question this representation is to question the very legitimacy of the Fund's recent decisions,” concluded Matej Rigelnik.