Frequently Ask Questions

Frequently Ask Questions

Transilvania Investments

Investment intelligence and flair for opportunities.
What is the value of dividends afferent to the financial exercise 2022?
According to the Resolution of the General Meeting of Shareholders dated April 24th, 2023, the gross dividend afferent to the financial exercise 2022 amounts to RON 0.014/share. 
How can I get the uncashed dividends?
Dividends related to the financial year 2022 can be collected from any agency of Banca Transilvania in the country, based on the valid identity document. 

In accordance with the Ordinary General Meetings of Shareholders’ Resolutions of April 2021 and April 2022, the Company does not pay dividends for the financial years 2020 and 2021.

If you wish to collect dividends in your personal bank account, please contact Depozitarul Central, by phone: 021-4085800, 4085874 or by e-mail, at contact@depozitarulcentral.ro.
How the dividend tax is calculated and who pays it?
According to the Tax Code in force, the Company calculates and withholds the tax on dividends on the payment date. The tax on dividends is declared and payed to the State Budget by the 25th of the month following the one in which the payment was made. In the case of dividends distributed but not paid to the shareholders by the end of the year in which the dividends have been approved, the tax on dividends is paid by January 25th of the next year, inclusively. 

The standard tax rate applicable to dividends for the present is 8%, with the exception of the special cases provided by the Tax Code. 

Non-resident shareholders can benefit from the more favourable dividend tax rates provided by the Conventions for the Avoidance of Double Taxation, subject to the transmission of the tax residence certificate valid for the calendar year in which the dividend payment is made (original or legalized copy), accompanied by the authorized translation thereof into Romanian.
How can I sell or buy shares issued by Transilvania Investments Alliance?
Given that the shares issued by Transilvania Investments Alliance (former SIF Transilvania) are listed on the Bucharest Stock Exchange, the sale/purchase thereof is performed, according to law, through specialized companies called financial service investment companies (S.S.I.F.) and credit institutions.
As a result, if you want to sell or buy shares issued by Transilvania Investments Alliance, you should contact such a company.
The list and the contact details of such companies can be found at the Bucharest Stock Exchange website www.bvb.ro , Section “Intermediaries” and the Central Depository website www.roclear.ro, Section “Participants”.
How can I find out the number of shares that I currently hold in Transilvania Investments Alliance?
The number of shares held by a shareholder is attested by the document entitled Summary of account positions . The summary of account positions stands out all the financial instruments in the accounts of the holder held with different issuers.

The summary of account positions is issued by the company keeping the register of Transilvania Investments Alliance (former SIF Transilvania) shareholders, Depozitarul Central S.A. (Central Depository), headquartered in Bucharest, 34-36 Carol I Boulevard, Floors 3, 8 and 9, District 2, Phone: +4021 4085800, 021-4085874, website: www.roclear.ro, e-mail: contact@depozitarulcentral.ro. 

The summary of account positions is issued upon the shareholder’s request, based on the documents to be sent and the fees to be paid, according to the requirements of the Central Depository.
What steps should I take if I changed my address / name?
In order to change your identification data recorded with the Transilvania Investments Alliance (former SIF Transilvania) shareholders’ register, you must contact Depozitarul Central S.A. (Central Depository), headquartered in Bucharest, 34-36 Carol I Boulevard, Floors 3, 8 and 9, District 2, Phone: 021- 4085800, 021-4085874,website: www.roclear.ro, e-mail: contact@depozitarulcentral.ro.

Amendment of identification data is performed at the shareholder’s request, based on the submission of documents and payment of fees requested by the Central Depository.

The identification data update can also be performed by the National Romanian Post, through the Post Offices no. 1 of county municipalities, based on a fee to be paid by the applicant. According to the Transilvania Investments Alliance Articles of Incorporation, none of the changes in the shareholders’ identification data which is not communicated and operated in the shareholders’ register kept by the Central Depository shall be enforceable against our company.
What is the procedure for transferring shares held in Transilvania Investments Alliance from a deceased person to the heir/ heirs thereof? How can the uncashed dividends belonging to a deceased person be collected?

In order to gain ownership of the shares held by a deceased person, the following procedure must be followed:

1. The heir/heirs of the deceased persons shall request the Central Depository, based on the payment of a fee and submission of the required documents, to issue a statement of account comprising the shares held with Transilvania Investments Alliance (former S.I.F. Transilvania) and any additional shares held by the deceased person with other investment companies or companies; Important clarification: On the basis of the cooperation protocol signed between the Central Depositary and the National Center for Administration of National Registers of Notary (CNARNN-INFONOT), the employees of this institution can release, by accessing the Central Depositary System, the summary of account positions on behalf of the deceased persons, necessary for the debate of the successions handled by the notaries public.

2. Based on the statement of account, the heir/heirs shall request a notary public to carry out the inheritance division for all the shares held by the deceased person. If there are several heirs, the termination of the joint tenancy shall also be performed;

3. After completing the inheritance division, the heir/heirs shall request the Central Depository, based on the payment of a fee and submission of the required documents, the transfer of the shares in the shareholders register from the deceased person to the heir/heirs and the issuance of the document called confirmation of transfer. If there are several heirs, confirmations of termination of the joint tenancy shall also be requested. Additional information on the transfer of property procedure may be obtained from the Central Depository, headquartered in Bucharest, 34-36 Carol I Boulevard, Floors 3, 8 and 9, District 2, phone: 021-4085800, 021- 4085874, website: www.roclear.ro, e-mail: contact@depozitarulcentral.ro.

4. After completing the transfer of shares and receiving the confirmation of transfer, the new owner/owners shall request our company to assign the dividends uncashed by the deceased to the new owner/owners.

How can I transfer my shares held in Transilvania Investments Alliance to a relative?

Direct transfer of shares held in Transilvania Investments Alliance (former SIF Transilvania) between relatives or in-laws up to the fourth degree is carried out based on the ownership transfer documents authenticated by a notary public, through the Central Depository, in accordance with the procedures of this company and by observing the legal provisions in force on conditions for performing such transfers.

Additional information can be obtained from the Central Depository headquartered in Bucharest, 34-36 Carol I Boulevard, Floors 3, 8 and 9, District 2, phone: 021-4085800, 021-4085874, e-mail: contact@depozitarulcentral.ro, website: www.roclear.ro.

Beside the shares held in Transilvania Investments Alliance, I also hold shares in the other SIFs. How did I obtain them?

According to Law no.133/1996 for the transformation of Private Ownership Funds into financial investment companies, Romanian citizens who received certificates of ownership under Law no. 58/1991 and subscribed one or more such certificates in the privatization processes initiated and carried out under Law no. 55/1995, received as dividends, in the form of shares, a part of the revenues due to the Private Ownership Funds by March 31, 1996.

Thus, citizens who have subscribed a booklet of certificates of ownership in a company, regardless which one, received 6 additional shares in SIF Banat Crisana, 5 in SIF Moldova, 8 in SIF Transilvania (at present Transilvania Investments Alliance), 38 in SIF Muntenia and 10 in SIF Oltenia. The 8 shares originally held by the SIF Transilvania shareholders were doubled twice, based on the decisions of the Extraordinary General Meeting of Shareholders dated April 27, 2007 and April 28, 2014 (which approved the share capital increase and granting free shares to shareholders, namely one free share for each share held) and as a result, the shareholder who initially received 8 shares currently holds 32 shares in Transilvania Investments Alliance.

Please note that increases of the initial number of shares received under the above, were performed over the time also by the other Financial Investment Companies.

If you want to know the current situation of your holdings, you must request a statement of account from the Central Depository S.A., headquartered in Bucharest, 34-36 Carol I Boulevard, Floors 3, 8 and 9, District 2, Phone: 021–4085800, 021-4085874, e-mail: contact@depozitarulcentral.ro, website: www.roclear.ro.

I sold the shares held in Transilvania Investments Alliance at the beginning of the year. Why I have not received dividends distributed from the profit of the previous year?

The right to receive dividends belongs to the shareholders registered in the shareholders register on the registration date set under F.S.A. Rule no.5/2018 relating to issuers of financial instruments and market operations.

Thus, the registration date is approved by the same general meeting of shareholders of Transilvania Investments Alliance (former SIF Transilvania) which approved the dividend distribution and shall be subsequent by at least ten working days to the date of the general meeting of shareholders.

For example, the shareholders entitled to receive dividends from the profit made by the company in 2022 were those registered in the shareholders register on May 31, 2023, set as registration date by the Ordinary General Meeting of Shareholders of April 24, 2023.

I own shares in another company. Can I transfer them to Transilvania
Investments Alliance?

The shares held in a company cannot be transferred to Transilvania Investments Alliance (former SIF Transilvania). Our company shares are traded on the Bucharest Stock Exchange; thus, the purchase and sale thereof can only be carried out through companies specializing in shares trading, called financial investment service companies (S.S.I.F.) and credit institutions.

As a result, you can buy or sell shares issued by Transilvania Investments Alliance only by filing a purchase/sell order with such a company. Information on the sale of shares you may own in another company can also be obtained by contacting a financial investment service company. The list of such companies, with the contact details thereof, can be found on the Bucharest Stock Exchange website www.bvb.ro section Intermediaries and the Central Depository website www.roclear.ro section Participants.

What is the reference date?

The reference date is the calendar date set by the Company’s Executive Board which serves to the identification of shareholders entitled to attend the general meeting of shareholders and to vote therein. The reference date shall be subsequent to the publishing date of the Convening Notice and prior to the date of the general meeting of shareholders.

What is the registration date?

The registration date is the calendar date set by the general meeting of shareholders which serves to identify shareholders entitled to receive dividends or other rights and who are subject to the effects of the resolutions of the respective general meeting of shareholders. The registration date is subsequent by at least ten working days to the date of the general meeting of shareholders.

What is the payment date?

The payment date is the calendar date on which the distribution of income incidental to the ownership of securities, consisting of cash or securities, is certain.

What is ex-date?

The ex-date is a date prior to the registration date with a settlement cycle minus one working day, starting with which the financial instruments subject to the resolutions of the company’s bodies are traded without rights deriving from said resolutions.

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