“(vi) paragraph (7) of article 9 is amended and will have the following wording: Any person may acquire under any title or may hold, individually or together with the persons with whom it acts in concert, according to the definition of the concerted action provided for by the legislation in force, shares issued by the Company, but not more than 10% of the share capital of the latter”, as per a stock market report.
The amendment of article 9 paragraph (7) and paragraph (8) will take effect starting 24 July 2020.
In December 2019, President Klaus Iohannis passed a law regulating alternative investment funds, which stipulates, among others, the elimination of the ownership threshold of 5%, so that shareholders in regional investment funds (SIFs) will no longer have an ownership limit imposed by law. However, as in the case of regional investment fund SIF Transilvania (SIF3), shareholders themselves can establish a threshold.