Banca tiriac increases capital by $10.5m

Banca tiriac shareholders have recently endorsed a share capital increase by 340.68bn ROL (nearly $10.5 million). The bank’s capital prior to this decision was worth 664bn ROL. The capital increase is derived from asset reassessment – 108.180bn ROL and from cash raised by issuing 2.5 million new shares worth 232.5bn ROL, that is 93,000 ROL/share, the same as the par value. The main shareholder of the bank is the group held by businessman Ion tiriac. The second most significant shareholder is the European Bank for Reconstruction and Development (EBRD), with the rest of the shares held by various Romanian individuals and legal entities. The shareholders also had to endorse the reconfirmation of six Board members, Ion tiriac, Constantin Barbu, Catalin Parvu, Anthony van der Heijden, Ion Nestor and Dan Petrescu as administrators for a four-year term. ZF