The attendance rate at the General Shareholder Meetings of the BSE can function as an exit poll concerning the support of the management of the BSE, whose symbol is Lucian Anghel, the president of the Bucharest Stock Exchange.
On the last two general shareholder meetings summoned by the management of the BSE some of the shareholders were present, but they did not register, thus sabotaging the Extraordinary General Shareholder Meeting which needed a quorum of 50% upon the second summoning.
On Thursday's Extraordinary General Shareholder Meeting summoned at 15:00, shareholders with cumulated holdings of 25.52% registered, which could be considered as supporters of the current management of the BSE, which had proposed the amendment of the pricing policy of the BSE by introducing a fixed commission for brokers.
This proposal has sparked a wave of discontent, especially among small brokers, who claimed that they were being discriminated against compared to the larger brokerages, which meant that they preferred "sabotaging" the holding of the Extraordinary General Shareholder Meeting.
The 17:00 Ordinary General Shareholder Meeting, where the financial statements and the dividend would be discussed, had a quorum of 51.13%, as the people who didn't come in for the Extraordinary General Shareholder Meeting registered. By subtracting out of the quorum of the Ordinary General Shareholder Meeting that of the Extraordinary Shareholder Meeting, it would imply that shareholders which control 25.61% of the BSE do not support the management of Lucian Anghel. Those who did not attend - 48.87% - are those who do not care about the Board of Directors.
In short, 25.52% love Lucian Anghel, 25.61% hate him, and the remaining shareholders don't care.
ADINA ARDELEANU (Translated by Cosmin Ghidoveanu) The attendance rate at the General Shareholder Meeting
