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SHARE TRANSFER IN THE ELECTROARGEŞ IS IMPOSSIBLE The ruling in favor of Bran OIL SA (which is in bankruptcy) can only be enforced via payment of the equivalent amount


• Only shareholders recorded in the shareholder registry may vote in the General Shareholder Meeting
Specifically, as we have informed you in the articles Anti-corruption prosecutors investigating the Electroargeş case and The takeover of Electroargeş SA, blocked by the initiative of a former member of the Board of Directors of SAI Muntenia Invest , the decision of the ASF was mostly based on the court rulings concerning the purchase of 16 million shares by Constantin Relative Investments SRL, more specifically the voiding of that trade, requested by an insolvent company - Bran Oil SA.
Specifically, we are talking ruling 132/April 2nd, 2019 of the County Court of Galaţi, which was left final through the ruling 75/March 18, 2020 of the Constanţa Court of appeal, as the court of last instance upheld the voiding of the transactions concerning the 16 million shares of Electroargeş SA and ordered their return to Bran Oil SA. ....

Romania General , D Cristian Gheorghe , Sebastian Bodu , European Commission , Bran Oil , Financial Oversight Authority , Constantin Relative Investments , County Court , Central Depository , ரோமானியா ஜநரல் , ஐரோப்பிய தரகு , தவிடு எண்ணெய் , நிதி ஓவர்‌ஸைட் அதிகாரம் , கவுண்டி நீதிமன்றம் , மைய வைப்புத்தொகை ,

CONTESTED OWNERSHIP TRANSFER A debatable ruling heats up the battle for the management of Electroargeş SA


GHEORGHE IORGOVEANU (Translated by Cosmin Ghidoveanu)
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The case of the rejection by the Financial Oversight Authority of the public tender offer for the majority block of shares is far from over. Especially since for today are scheduled to happen the General Ordinary Shareholder Meeting and the General Extraordinary Shareholder Meeting of Electroargeş SA. Some of the items on the agenda also include the election of a new Board of Directors, as well as of the new chairman of the Board of Directors of the company.
Because, by the deadline - April 21st, 2021 15:00, no other bids had been made save those submitted by the management of Electroargeş SA, it seems the only option for shareholders is to keep Constantin Ştefan as chairman of the Board of Directors. ....

Romania General , Cristian Gheorghe , Preluarea Electroarge , D Cristian Gheorghe , Sebastian Bodu , Bucharest Stock Exchange , European Union , European Commission , Bran Oil , High Court , Financial Oversight Authority , General Ordinary Shareholder Meeting , General Extraordinary Shareholder Meeting , Benjamins United , Extraordinary General Shareholder Meeting , Investments Constantin , Depozitarul Central , County Court , Civil Code , Central Depository , Constantin Relative Investments , English Section , ரோமானியா ஜநரல் , கிறிஸ்டியன் க்ஹார் , புக்கரெஸ்ட் ஸ்டாக் பரிமாற்றம் , ஐரோப்பிய தொழிற்சங்கம் ,