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Litigations before the Courts of Appeal

Release Date: 3/13/2017 11:49:37 AM

IRIS Code: BE93D

No. 1912/13.03.2017


To:      Bucharest Stock Exchange

            Financial Supervisory Authority

-          Financial Instruments and Investments Sector



According to the N.S.C. Regulation no. 1/ 2006

Report date: 13 March 2017


S.I.F. Transilvania S.A.

Headquarters: 2, Nicolae Iorga Street, Brasov 500057

Telephone: +40 268 415529, 416171; Fax: +40 268 473215, 473216

Tax registration code: RO3047687

Order number in the Trade Register: J08/3306/92

Registration number in the NSC Register: PJR 09 SIIR/080004

Subscribed and paid-in share capital: RON 218,428,666.40

Regulated market on which the issued securities are traded: Bucharest Stock Exchange (ticker: SIF3)


Important events to be reported: Litigations before the Constanta Court of Appeal and the Bucharest Court of Appeal


S.I.F. Transilvania informs the shareholders and investors the following:

1. Through Decision no. 109/21.02.2017 issued in File no. 734/36/2016, the Constanta Court of Appeal admitted the appeal filed by S.I.F. Transilvania, cancelled the Constanta Court’s Sentence no. 1156/26.05.2016 and retained the cause for judgment by evoking the merits of the case. The Court also rejected the action’s exception of inadmissibility as unfounded and dismissed the action as unfounded. The decision is final.

We recall that through the Civil Sentence no. 1156/26.05.2016 issued in File no. 29335/3/2014, the Constanta Court rejected as inadmissible S.I.F. Transilvania’s action filed against COMCM S.A. Constanta, Alexa Business & Investments S.R.L. Constanta, the Financial Supervisory Authority and Depozitarul Central S.A. Bucharest, through which our Company requested the Court to find the absolute nullity of the stock exchange transactions through which COMCM S.A. sold to Alexa Business & Investments S.R.L. a number of  4,459,000 shares issued by SCUT S.A. Constanta, transactions following which the stake held by COMCM S.A. in SCUT S.A. decreased from 64% to 45% of the share capital.

2. Through Sentence of 10.03.2017 issued in File no. 241/2/2017, the Bucharest Court of Appeal rejected as inadmissible S.I.F. Transilvania’s request filed against the F.S.A. through which our Company asked the Court to find the fulfilment of the requirements provided by the G.E.O. no. 27/2003 for the tacit approval of the request for the approval of Mr. Mihai Fercala as a member of S.I.F. Transilvania’s Executive Board. The sentence is final.

We recall that through the Notice of Approval no. 51/23.02.2017, the F.S.A. has approved the change in the composition of the Executive Board of S.I.F. Transilvania following the appointment of Mr. Mihai Fercala as a member of the Company’s Executive Board.


Mihai Fercala                                                            

Executive President/C.E.O.   


Iulian Stan

Executive Vice-President/Deputy C.E.O.     



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