Cristian Sima, one of the best-known players on the Romanian capital market, and Paul Miclăuş, former advisor with the CNVM, have been appointed by the CNVM as directors of the Sibiu Exchange, the company said in a communiqué.

On July 15th, the shareholders of the Sibiu Exchange have approved the election of Cristian Sima as member of the Board of Directors of Sibex which had remained vacant following the revocation of Teodor Ancuţa which had been decided at the same General Shareholder Meeting.

Also on July 15th, the shareholders of Sibex approved the election of Paul Miclăuş on the vacant position of the Board of Directors of the company for a period equal to the one left until the expiration of the tenure of Bogdan Cosmin Ivan.

M. Ivan resigned from the Board of Directors of Sibex on May 17th.

Both Sima and Miclăuş had been elected as directors of Sibex in the General Shareholder Meeting held at the end of April, together with Dan Simionescu, Gabriel Filimon and Alexandru Găitan, but they were prevented from carrying out their roles by a ruling of the court of Sibiu, which temporarily suspended the execution of the decisions of the General Shareholder Meeting, at the request of some shareholders. Cristian Sima had been elected as president of the company.

Following the ruling of the court, the management of the company reverted to the Board of Directors which was in place before the elections of April, which included Dan Simionescu of SIF Transilvania and Gabriel Filimon of SIF Muntenia, thus ensuring the continuity between the new and the old Board of Directors. Bogdan Cosmin Ivan, the president of HTI Valori Mobiliare subsequently resigned from the Board of Directors, whereas Teodor Ancuţa the former president and managing director of the Sibiu Exchange, was dismissed from the position of Director at the General Shareholder Meet