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SIF BANAT CRISANA S.A. - SIF1

NAV as of date 06/30/2020

Release Date: 7/15/2020 6:00:04 PM

IRIS Code: 8CA0F

 

 

 

STATEMENT OF

annex  no. 16

 

 

 

assets and liabilities of SIF Banat-Crisana as at

 

 

 

 

06/30/2020

 

 

 

DESIGNATION

VALUE [RON]

 

1. Non-current assets

                                                                                  623,666,959

 

 

1.1 Intangible assets

                                                                                             14,270

 

 

1.2 Tangible assets

                                                                                     18,020,478

 

 

1.3 Financial assets

                                                                                  605,632,211

 

 

 

1.3.1 Listed shares

                                                                                     13,785,311

 

 

 

1.3.2 Unlisted shares

                                                                                  188,629,566

 

 

 

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

                                                                                     86,934,979

 

 

 

1.3.8 Newly issued securities

                                                                                                      -  

 

 

 

1.3.9 Units of UCITS and / or AIF

                                                                                  316,176,395

 

 

 

1.3.10 Other financial assets

                                                                                          105,959

 

2. Current assets

                                                                               2,901,489,466

 

 

2.1 Inventories

                                                                                               2,239

 

 

2.2 Receivables, of which:

                                                                                       2,154,381

 

 

 

2.2.1 Dividends receivables

                                                                                       2,054,020

 

 

 

2.2.2 Receivables rights

                                                                                                      -  

 

 

 

2.2.3 Other receivables

                                                                                          100,361

 

 

2.3 Cash and equivalents

                                                                                     45,974,706

 

 

2.4 Short term financial investments

                                                                               2,738,450,772

 

 

 

2.4.1 Listed shares

                                                                               2,613,701,222

 

 

 

2.4.2 Unlisted shares

                                                                                                      -  

 

 

 

2.4.3 Municipal bonds

                                                                                                      -  

 

 

 

2.4.4 Corporate bonds

                                                                                       5,094,000

 

 

 

2.4.5 Units of UCITS and / or AIF

                                                                                  119,655,549

 

 

2.5 Newly issued securities

                                                                                                      -  

 

 

2.6 Government securities

                                                                                                      -  

 

 

2.7 Bank deposits

                                                                                  114,884,632

 

 

2.8 Certificates of deposit

                                                                                                      -  

 

 

2.9 Other current assets

                                                                                             22,736

 

3. Derivatives

                                                                                                      -  

 

4. Prepaid expenses

                                                                                          135,606

 

5. Total assets

                                                                               3,525,292,031

 

6. Total liabilities

                                                                                  125,627,120

 

 

6.1 Loans from bond isssues

                                                                                                      -  

 

 

6.2 Amounts owed to credit institutions

                                                                                                      -  

 

 

6.3 Advances received from clients

                                                                                                      -  

 

 

6.4 Trade payables

                                                                                             81,476

 

 

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:

                                                                                  125,545,644

 

 

 

 - deferred income tax

                                                                                  122,801,157

 

7. Provisions for expenses 

                                                                                                      -  

 

8. Deferred income, of which:

                                                                                             17,108

 

 

8.1 Investment subsidies

                                                                                                      -  

 

 

8.2 Deferred income

                                                                                             17,108

 

9. Shareholders' equity, of which:

                                                                               2,493,285,699

 

 

9.1 Share capital

                                                                                     51,746,072

 

 

9.2 Share capital premiums

                                                                                                      -  

 

 

9.3 Revaluation differences

                                                                                       1,176,569

 

 

9.4 Reserves

                                                                               3,127,994,448

*

 

9.5  Own shares

-7,430,298

 

 

9.6 Retained earnings

                                                                                  587,535,252

 

 

9.7 Result for the period (YTD)

-367,064

 

 

9.8 Profit appropriation

                                                                                                      -  

 

 

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

-2,540,075,937

 

 

9.10  Items treated as capital

                                                                                  645,164,114

 

 

9.11   Other elements of equity

                                                                                  627,542,542

 

10. Total liabilities

                                                                               2,618,929,926

 

11. Net asset

                                                                               3,522,448,960

* *

12. The total number of outstanding shares

                                                                                  514,542,363

 

13. Net asset value per share

                                                                                             6.8458

 

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

                                                                                                  123

 

 

14.1 Companies admitted to trading on a regulated market

                                                                                                     21

 

 

14.2 Companies admitted to trading on an alternative trading system

                                                                                                     25

 

 

14.3 Unlisted companies

                                                                                                     77

 

 

 

 

 

*

 -

The value of own shares repurchased in the buyback programs approved by the GMS of April 26, 2018, carried out

 

 

through market transactions between October 2 - 26, 2018, and the PTO carried out during October 22 - November 4, 2019.

 

 

 

 

 

* *

 -

 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 as of June 30, 2020 includes the value of stake held in SIF Imobiliare PLC valued at RON 1,287 million, representing RON 286/share (market price as of the date of the last

 

transaction on May 19, 2020)

 

 

SIF Imobiliare PLC is an issuer listed on the Bucharest Stock Exchange on the AeRO market (traded under market symbol SIFI) but having a very low liquidity.

 

Between May 2019 and April 2020, there were no transactions with SIFI shares.

 

 

On May 19, 2020 there was a single transaction with one SIFI share, at the price of RON 286 / share.

 

 

In SIF Banat-Crisana portfolio, the shares issued by SIF Imobiliare PLC are evaluated in accordance with the provisions of the ASF Regulation no. 9/2014

 

and the ASF Regulation no. 2/2018, depending on whether there are transactions with SIFI securities in the last 30 trading days (working days).

 

As per the provisions of ASF Regulation no. 9/2014, art. 113, letter (a) pt. 2:

 

 

” 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 for which the calculation is made, in the case of shares listed in trading systems other than regulated markets, including in other alternative trading systems, provided by the operator of that trading

 

system for each of the segments of that system.”

 

Thus, the value of SIFI shares recorded for the calculation of SIF Banat-Crisana's net asset value as of June 30, 2020 was of RON 286 / share (as per the transaction dated May 19, 2020), based on the above-mentioned provisions.

 

 

 

 

For the period June 2019 - April 2020, the valuation of SIFI securities was calculated in accordance with the provisions of Article 115 paragraph (2) and paragraph (1) letter (a) pt. (1) of the ASF Regulation no. 9/2014, at the carrying

 

amount (book value) per share, as it results from the last approved financial statements.

 

 

 

 

 

 

 

 

 

We state that the transactions recorded on the market with SIFI shares were not performed by SIF Banat-Crisana or its affiliates.

 

We inform the investors that SIF Banat-Crisana notified ASF of the market transactions with SIFI shares, given their sporadic nature and the overvalued price per share compared to the fair value resulting from other valuation techniques causing significant changes in the net asset value of SIF Banat-Crisana.

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

SIF Banat Crisana

Depository

 

 

 

 

Banca Comerciala Romana

                         

 



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