Following the recent articles on the status of the management of Sibex, I want to make the following mentions in order to make it clear how the events unfolded:
1. The General Meetings of the Shareholders of Sibex which took place on April 29th, 2011, did so in violation of the law No. 31/1990 and of the Articles of Incorporation of Sibex, even though the people who requested the revocation were assisted by three lawyers of Bucharest and by a notary.
2. The following flaws were recorded, which I will enumerate hereinafter:
- The secretariat members that were elected at the end of the General Shareholder Meeting did not even draw up at the very least the minutes specifying the proxies that were present, the names of other participants, etc. Recalculating the voting rights, for 2 hours, was not within the attributions of the General Shareholder Meeting, but rather within those of the Depository of Sibex, and it is not normal for the people who attended the Meetings to calculate the number of voting rights themselves.
- Outsiders shouldn"t have been allowed to participate in the General Shareholder Meeting.
- No verification was performed on whether the number of votes of by the agents matched the number of votes in their proxies.
- The proposal to change and replace me as president who leads the General Shareholder meeting was not legal, since the chairman of the Board merely presides the General Shareholder Meeting and can only be replaced in specific circumstances, such as temporary incapacity, disability etc., which was not the case.
Following these irregularities, the General Shareholder Meeting was challenged in court by a group of shareholders. It is a shame that some of the shareholders, as well as the members of the Board of Directors of Sibex are not familiar with the legislation concerning companies (Law no. 31/1990
