In Romania, there are several commercial companies (for profit) which, on one hand, are listed on the stock exchange and are subject to the provisions of Law no. 24/2007, Law no. 297/2004, and the regulations issued by the Financial Supervisory Authority (F.S.A.), and on the other hand, are also subject to privatization legislation, specifically Law no. 15/1990, Government Decision no. 834/1991, Emergency Ordinance no. 88/1997, Law no. 137/2002, etc.
If such a company acquires ownership of a land based on the issuance of a certificate attesting the right to private ownership of the land under Government Decision no. 834/1991, a conflict of laws may arise regarding the increase of share capital between privatization legislation and capital market legislation (e.g., the necessity or not of a General Meeting of Shareholders’ decision approving the share capital increase, quorum requirements at the General Meeting of Shareholders, the method of evaluating the contribution, etc.).
Taking into account the legislative evolution in Romania, the opinions expressed in the specialized literature, as well as the practice of the courts, together with my colleague, lawyer Vlad Bica, we have prepared an informative material regarding the procedure of the “automatic” increase of the share capital of a company traded on the Bucharest Stock Exchange.
The article is published on the platform www.juridice.ro, one of the most prestigious legal information publications in Romania.
To view the article, please access the following link:
https://www.juridice.ro/702628/majorarea-de-drept-a-capitalului-social-in-cazul-unei-societati-listate-la-bursa.html
