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SIF BANAT CRISANA S.A. - SIF1

NAV as of date 12/29/2017

Release Date: 1/15/2018 6:30:09 PM

IRIS Code: A8447

 

 

 

STATEMENT OF

annex  no. 16

 

 

 

assets and liabilities of SIF Banat-Crisana as at

 

 

 

 

12/29/2017

 

 

 

DESIGNATION

VALUE [RON]

 

1. Non-current assets

                                            496,397,364

 

 

1.1 Intangible assets

                                                         7,622

 

 

1.2 Tangible assets

                                               22,630,086

 

 

1.3 Financial assets

                                            473,759,656

 

 

 

1.3.1 Listed shares

                                               33,075,308

 

 

 

1.3.2 Unlisted shares

                                            166,551,134

 

 

 

1.3.3 Government securities

                                                                -  

 

 

 

1.3.4 Certificates of deposit

                                                                -  

 

 

 

1.3.5 Bank deposits

                                                                -  

 

 

 

1.3.6 Municipal bonds

                                                                -  

 

 

 

1.3.7 Corporate bonds

                                               43,629,175

 

 

 

1.3.8 Newly issued securities

                                                                -  

 

 

 

1.3.9 Units of UCITS and / or non-UCITS

                                            230,404,039

 

 

 

1.3.10 Other financial assets

                                                    100,000

 

2. Current assets

                                         2,115,898,577

 

 

2.1 Inventories

                                                         2,239

 

 

2.2 Receivables, of which:

                                                 1,336,885

 

 

 

2.2.1 Dividends receivables

                                                                -  

 

 

 

2.2.2 Receivables rights

                                                                -  

 

 

 

2.2.3 Other receivables

                                                 1,336,885

 

 

2.3 Cash and equivalents

                                                 1,114,142

 

 

2.4 Short term financial investments

                                         2,032,952,991

 

 

 

2.4.1 Listed shares

                                         1,890,821,364

 

 

 

2.4.2 Unlisted shares

                                                                -  

 

 

 

2.4.3 Municipal bonds

                                                                -  

 

 

 

2.4.4 Corporate bonds

                                                 4,901,163

 

 

 

2.4.5 Units of UCITS and / or non-UCITS

                                            137,230,464

 

 

2.5 Newly issued securities

                                                                -  

 

 

2.6 Government securities

                                               65,472,656

 

 

2.7 Bank deposits

                                               15,013,818

 

 

2.8 Certificates of deposit

                                                                -  

 

 

2.9 Other current assets

                                                         5,846

 

3. Derivatives

                                                                -  

 

4. Prepaid expenses

                                                    183,552

 

5. Total assets

                                         2,612,479,493

 

6. Total liabilities

                                            178,264,723

 

 

6.1 Loans from bond isssues

                                                                -  

 

 

6.2 Amounts owed to credit institutions

                                                                -  

 

 

6.3 Advances received from clients

                                                                -  

 

 

6.4 Trade payables

                                                       51,279

 

 

6.5 Bills of exchange payable

                                                                -  

 

 

6.6 Amounts owed to group companies

                                                                -  

 

 

6.7 Amounts owed to related parties

                                                                -  

 

 

6.8 Other liabilities, of which:

                                            178,213,444

 

 

 

 - deferred income tax

                                            159,342,522

 

7. Provisions for expenses 

                                                    469,374

 

8. Deferred income, of which:

                                                 1,181,726

 

 

8.1 Investment subsidies

                                                                -  

 

 

8.2 Deferred income

                                                 1,181,726

 

9. Shareholders' equity, of which:

                                         2,185,247,180

 

 

9.1 Share capital

                                               52,000,000

 

 

9.2 Share capital premiums

                                                                -  

 

 

9.3 Revaluation differences

                                                       97,794

 

 

9.4 Reserves

                                         2,806,942,517

*

 

9.5  Own shares

-4,872,849

 

 

9.6 Retained earnings

                                               10,602,130

 

 

9.7 Result for the period (YTD)

65,940,859

 

 

9.8 Profit appropriation

                                                                -  

 

 

9.9  Retained earnings  adoption of IAS 29 for the first time - debtor account

-2,543,241,877

 

 

9.10  Items treated as capital

                                            648,330,055

 

 

9.11   Other elements of equity

                                         1,149,448,552

 

10. Total liabilities

                                         2,365,163,004

 

11. Net asset

                                         2,592,375,566

* *

12. The total number of outstanding shares

                                            517,460,724

 

13. Net asset value per share

                                                       5.0098

 

14. Number of companies in the portfolio, of which:

                                                            139

 

 

14.1 Companies admitted to trading on a regulated market

                                                               23

 

 

14.2 Companies admitted to trading on an alternative trading system

                                                               26

 

 

14.3 Unlisted companies

                                                               90

 

 

 

 

 

*

 -

The value of own shares repurchased through public offer between 08/02/2016 and 08/23/2016

 

 

and between  08/30/2017  and  09/20/2017

 

* *

 -

 Pursuant to Article.123, alin. (3) of the ASF Regulation nr. 9/2014, reffering to NAV calculation, this item represents:

 

 

" The total number of outstanding shares, less the number of repurchased shares held by the Company"

NOTE:

 

 

 

 

We inform the investors that SIF Banat-Crisana’s net asset value (NAV) as at 29.12.2017 hiked by RON 227,684,738,

 i.e. 9.63% up as compared to the value recorded on 29.11.2017. This increase is due to the significant rise of the value

of stake held in SIF Imobiliare PLC, which on  December 29, 2017, has the value of RON 405 mn, compared to

RON 156.5 mn on 29.11.2017.

 

We mention that SIF Imobiliare PLC is an issuer listed on the Bucharest Stock Exchange on AeRO market (traded under

symbol SIFI), but having very low liquidity, in 2017 was recorded a single transaction with  these securities, on 08.12.2017.

The high variation of value as at December 2017 for the stake held in SIF Imobiliare PLC is due to the valuation

 methodology, different for January-November 2017 as compared to December 2017, as follows:

In SIF Banat-Crisana’s portfolio, the shares issued by SIF Imobiliare PLC are valuated as per the provisions of the ASF

Regulation no. 9/2014, art. 113 and Art.115 respectively, depending whether transactions with SIFI securities

 in the last 30 trading days (working days) are recorded.

 

Thus, as in December a transaction was recorded on 08.12.2017 for the price of RON 90 / share, the value of the SIFI

securities as at 29.12.2017 was assessed according to the provisions of art. 113 (a) pt. 2 of the ASF Regulation 9/2014:

 “Art. 113 Financial instruments admitted to trading and traded in the last 30 trading days (working days) on a regulated market

 or in trading systems other than regulated markets, from a Member State, including in an alternative trading system

 in Romania, and those admitted at the official rate of stock exchange or an alternative trading system from a third

State shall be valuated as follows: […]

 

2. at the reference price of the day of calculation, in the case of shares traded in trading systems other than regulated

markets, including in other alternative trading systems, provided by the operator of such trading system for each

of the segments of such system;”

 

For the period January - November 2017 there were no transactions with SIFI securities and, as a consequence,

 the valuation of SIFI securities during this period (including 29.11.2017) was calculated in as per the provisions

 of Article  115 par. (2) and par (1) letter (a) pt. (1) of the ASF Regulation 9/2014, at the book value per share, as it results

 from the last approved annual financial statement of the respective entity.

 

 

 

 

 

 

 

 

This statement is provided as a free translation from Romanian, which is the official and binding version

 

 

 

 

 

 

SIF Banat Crisana

Depository

 

 

 

 

BRD Groupe Societe Generale

 



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