The measure was taken following changes to the company’s shareholding structure after Tibor Tincau disposed of his holding and Radu Pascu reached an ownership stake of 31.2%.
Radu Pascu was appointed member of the Executive Board effective December 29, 2021.
Aurel Bernat, CEO of BT Asset Management, the investment division of lender Banca Transilvania, was appointed administrator of the company. The fund BT Invest1, managed by BT Asset Management, owns 33.9% of Sinteza shares.
Alexandru Savin, partner of ROCA Investments, a platform holding 18% of Sinteza shares, was appointed member of the Executive Board.
Sinteza Oradea ended the first nine months of 2021 with a net profit of RON0.8 million, compared with a loss of RON4.7 million in January-September 2020, and operating revenue of RON28.6 million, up 123% on the year, per data from the company’s quarterly financial report.
Sinteza Oradea has a stock market capitalization of RON26 million. STZ shares have been trading up 61.5% since the beginning of 2021, amid deals worth RON5.2 million, per stock market data.