National Securities Commission allows electronic vote for SIFs

Current legislation stipulates that shareholders may vote by mail and that they can be represented in General Shareholder’s Meetings by delegates. A decision to increase share capital can be more difficult if there is no quorum. In 2007 SIF Transilvania shareholders decided to double stock owned by each investor. The minimum number of shareholders for a quorum is 25 percent, according to Law 31/1990.

CNVM’s decision will make it easier for SIFs to make up a quorum. SIF Moldova has announced plans to increase its share capital by offering free shares.