He ranks second after investor Catalin Chelu, the top shareholder of the company, according to data posted by the SIF yesterday. The company’s board decided that several individuals, grouped around the PSV Company, own a total 3.02 percent of SIF Moldova. The Petrom Employees Association is one of PSV’s shareholders. Two offshore companies and three individuals are also part of this group, according to SIF data. Furthermore, SIF Moldova’s management maintained the presumption of concerted action of persons collaborating with Chelu. They own a total 7.7 percent of the SIF, less than the 8.5 percent reported prior to the meeting of shareholders last November. Legislation in the field stipulates that an investor may own only one percent in a financial investment company.
SIF representatives said they relied on a decision by the National Securities Commission (CNVM), which ruled that the presumption of concerted action be maintained if the companies involved change shareholders and are taken over by offshore companies. “The presumption is maintained until proven otherwise. So far, we have no proof that such concerted action does not exist,” SIF Moldova representative Liviu Doros said. CNVM officials were not available for comment before the closing of this edition. Some of the companies suspected of collaborating with Chelu recently changed shareholders, as they were taken over by offshore companies, although he has repeatedly denied collaborating with these. The move comes prior to the company’s meeting of shareholders, scheduled for Friday, when a new board is to be elected.
