The two founders of major Romanian real estate developer and investor, BVB-listed One United (ONE), gave up the idea of turning most of their shares into super-shares that would have given them five votes more compared to the ordinary shares.

A 22.74% stake, owned in equal shares by the two founding members, would have been subject to conversion into super-shares. Victor Căpitanu and Andrei Diaconescu indirectly own 29.7% of the company, each.

On November 4, Victor Capitanu and Andrei Diaconescu informed the Board of Directors of the company that they decided to waive their right to be awarded the B class shares (super-shares), One United announced investors.

The move, already endorsed by the company’s shareholders on September 10, was referred by the Trade Registry to the Court. The Bucharest Tribunal confirmed the validity of the shareholder vote of September 10 to introduce a new class of shares, the company’s statement reads.

(Photo courtesy of the company)

andrei@romania-insider.com