The commission said Austrian Erste Group Bank AG (EBS.RO) and seven other companies in the group, including Romania’s largest bank BCR, own together 8.78% in SIF Oltenia, above the 5% legal ceiling.
The eight minor shareholders have three months to discard the extra 3.78% shares in SIF Oltenia.
The decision to cap voting rights in SIF Oltenia comes just days ahead of a general shareholder meeting during which the investment fund will elect a new Board and will decide on the dividend level from the 2012 profits.
SIF Oltenia proposed paying out its holders a gross dividend of 0.13 lei (EUR0.02) a share, unchanged on the year. Total dividends would reach RON75.4 million, or 85% of the net profit reported for 2012. (EUR1=RON4.3783)