Scholarship. ASF rejected Mihai Buliga’s authorization request within the Transilvania Investments Alliance directorate

On April 26, the Financial Supervisory Authority rejected Mihai Buliga’s authorization request within the Transilvania Investments Alliance directorate (stock symbol TRANSI), according to a report published on the Stock Exchange by the alternative investment fund.

“The new composition of the company’s Directorate is as follows: Mr. Răzvan-Legian Rat and Mrs. Stela Corpacian. The mandate of the new Directorate team is valid until April 20, 2028”, write the representatives of the SIF Transilvania ditch.

The members of the directorate will pursue the achievement of the main objectives established for the period 2024-2028: the achievement of an annual increase of at least 6% in the value of the unitary net asset and a reduction of at least 7% in the trading discount, the remuneration of shareholders through a mix of instruments (dividends and the reduction of the trading discount), the increase in the share of dividends generated by the portfolio of majority holdings as well as the restructuring of the historical portfolio, according to BVB.

Stella Corpacian’s role, executive vice president, is to coordinate the fund’s initiatives in areas such as portfolio restructuring, modernization and optimization of IT infrastructure, applications and processes, evaluating and improving the performance of the current investment portfolio and identifying new investment opportunities.

Răzvan Rat, the new vice-president of the fund, “is already familiar with the fund’s projects, joining the team as a consultant at the beginning of 2024. His career in the financial field began in 2007, currently he is a good connoisseur of the capital market and having experience in management acquired both through the executive positions held in BRK Financial Group and other companies, as well as as a member of the Board of Directors of the Bucharest Stock Exchange”.

Mihai Buliga is a well-known personality in the capital market, having over 27 years of experience in this field, according to the Transilvania Investments Alliance website. He held the position of executive director or member of the boards of directors in several financial intermediation and investment fund management companies, being part of the teams that managed investment strategies, development and portfolio restructuring.

Last year, Transilvania Investments had a net profit of 232.3 million lei, 265.5% higher than in 2022, being the best result obtained in a period of five years. On December 31, 2023, the company’s total assets amounted to 1.81 billion lei, being 27.2% higher than those recorded in the same period of the previous year.

TRANSI shares show a decrease of 0.6% in 2024 and an increase of 4.5% in the last 12 months, at a capitalization of around 700 million lei.