A group of shareholders of Banca Transilvania has proposed the election of the new board members to be held through the system of weighted voting, the shareholders following to make a final decision on this issue on April 28 general meeting, the bank said in a filing to Bucharest Stock Exchange.

The shareholders will decide if the election of board member will be held through the classic voting procedures, namely secret votes, or weighted votes.

10 candidates are in the race for 7 board seats. The incumbent Banca Transilvania chairman, Horia Ciorcila, and chief executive Robert Rekkers are running for the board seats, together with a former GE Capital Paris director, Peter Franklin, and Robert Marzanati who will stand as an independent candidate.

Other candidates are: the two founders of the bank, Radu Danut Palagheanu and Constantin Jeican, Costel Ceocea, chairman of FIC Moldova, Gabriela Grigore with FIC Banat-Crisana, Carmen Retegan, chief executive of Verida Credit IFN and Corneliu Diaconescu.

The April 28 general meeting will also address the 391.58 million capital hike issue. The capitalization of last year’s net profit reserves would fetch 173.9 million lei in fresh new capital to the bank, while the rights issue would bring 97.68 million lei.