9 Octombrie 2008

CNVM passes Andrei Siminels intention to purchase 95% stake in Vanguard

CNVM approved Andrei Siminel’s intention to buy 95% stake of SSIF Vanguard SA’s common capital through Annaliesse Investment Limited. Therefore, managing director of NCH Advisors is making public the control he holds on the brokerage company.

Sources in the market stated to Wall-Street that Andrei Siminel controlled Vanguard through Lapworth Holdings Ltd, former majority shareholder of the company. Although there is no information to certify the takeover of the brokerage company management, same sources have confirmed the hypothesis.

Therefore, Andrei Siminel transfers 95% shares of Vanguard stake from one company to another, turning all “off the record” commentaries on his control over Vanguard into official facts.

CNVM has approved Andrei Siminel’s attempt to acquire 91.37% stake of Vanguard Asset Management.
Financial investment services company, Vanguard S.A was founded in 1994 and in 1999 the company launched the first online trading service on the Romanian capital market.

Vanguard ranked ninth in September in terms of amounts circulated at Bucharest Stock Exchange with 39.6 million lei flow.

Vanguard was second biggest broker at the stock market in Sibiu, in first nine months this year, with 677,412 contracts.

Translated and adapted by Camelia Oancea.

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