To this end, TTS summoned the general meeting of shareholders, which will approve the withdrawal of the three Board members and will elect five new members, of whom two independent members, for a four-year period.
Alexandru Mircea Mihailescu sold 7.5 million TTS shares within the public offering carried out in May and June 2021 and cashed nearly RON145 million, considering that he sold half of his ownership in TTS. Overall, all 14 TTS shareholders sold 50% of the shares they owned, for RON288 million.
Alexandru Mircea Mihailescu, aged 74, has held the position of Board Chairman since December 2007. Previously, Mihailescu had been executive administrator of TTS between 1998 and 2011.
Transport Trade Services, Romania’s biggest freight transporter on the Danube, has a stock market capitalization of RON600 million, after its shares have been trading up 1.5% over the last month, amid deals worth RON17 million.