* Iaciu: "The efforts of the shareholders have led to a quick reform of the way the management of SIF4 is approached"

Businessman Gheorghe Iaciu has asked SAI Muntenia, the manager of SIF Muntenia, to add to the agenda of the General Shareholder Meeting of April 25-26th, the proposal to dismiss the current Council of the Representatives of Shareholders and the election of a new one.

For over a year, the election of the Council of the Representatives of Shareholders has represented the stake of the lawsuits of the two factions warring within SIF 4 - Gheorghe Iaciu, on one hand, and Gabriel Filimon, the executive manager of SAI Muntenia Invest, on the other hand.

Gheorghe Iaciu, the biggest shareholder of SIF Muntenia, who holds 5%, said that he is looking to end the current state of things, "which basically leaves the Manager (SAI Muntenia) unsupervised".

For about a year now, a group of SIF4 shareholders, led by Iaciu, have been fighting SAI Muntenia, trying to remove the manager, and both sides won some legal battles in court, but neither won the war.

In a marathon meeting, last summer, the "Iaciu" group has imposed its own Council of the Representatives of Shareholders, but the court of Bucharest has suspended the decisions in question.

One way of "reconciliation" seems to be the sale of SAI Muntenia to SIF1 Banat Crişana, a deal which is currently being looked at by the Competition Council and the Romanian National Securities Commission.

One year after the outbreak of the conflict, Gheorghe Iaciu considers that the efforts of the shareholders have led to a reform of the management of SIF4.

He said: "One year after the General Shareholder Meeting whose main goal was the management of the results for 2011, I find that the efforts of the shareholders have led to a quick reform of the way the management of SIF4 is appr