Razvan Lefter was part of the TeraPlast board of directors for 6 years, representing the KJK Balkan Holding investment fund that held a 10.05% stake in TeraPlast SA. In November 2020, the fund sold its full stake in the company.
Anghel will hold the interim non-executive director position until the ordinary general meeting of shareholders on April 28, 2021.
Anghel holds a PhD in economics and a bachelor’s degree in cybernetics and economics, graduating a postgraduate course at Washington Georgetown University. He has 25 years of experience in the financial-banking field, occupying over time various management positions such as chief economist, coordinator of the structuring plan for privatization, deputy treasurer, director of strategy, CEO of institutions such as banks or a pension fund.
He was also a member of the Board of Directors of some asset managers – mutual funds and worked as an external expert of the World Bank. Anghel was the Chairman of the Bucharest Stock Exchange Board for 8 years, and at present he holds the position of CEO at Banca Romaneasca and Vice-president of Bittnet Systems. Anghel is one of the founders of the Association of Financial-Banking Analysts in Romania, serving as the first president of the association.
Shareholders are also expected to approve a proposal for the distribution of the net profit corresponding to financial year 2020, respectively, the amount of RON30.7 million, as dividends. “*The dividends have been distributed according to the Decision of the Ordinary General Assembly of the Shareholders no. 1 of 27th November 2020, approving the distribution of dividends amounting to RON 45,323,187.31, out of which the amount of RON 30,682,530 from the earnings for the year 2020, and the remaining amount from the retained earnings. The dividends have been paid on 24th December 2020 (payment date),”
Shareholders are also expected “to approve the maximum limit of indebtedness that the company can contract between 28.04.2021 – 28.04.2022 and the approval of the warranty of credit and/or leasing contracts which are going to be accessed within the limit established, with security interest in real estate/pledge, assignments of current and future receivables rights, assignments related to current and future cash, resulting from current accounts and assignments of rights resulted from the insurance policies. The proposal of the Board of Administration is that this limit of indebtedness to reach the total value of 150.000.000 lei.”
TeraPlast has a market value of RON1.4 billion and is 46.8% held by businessman Dorel Goia, while pension fund NN Pensii owns 12.2%.
TRP shares have been trading up 86.3%, amid deals worth RON140.5 million, per stock market data.