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SIF BANAT-CRISANA

(SIF1)
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SIF Banat Crisana : Quarterly Report as at September 30, 2021

11/15/2021 | 11:15am EDT

QUARTERLY REPORT

- AS OF SEPTEMBER 30, 2021 -

prepared pursuant to the provisions of

Law no. 24/2017, Law no. 74/2015, Law no. 243/2019, ASF Regulation no. 10/2015, ASF Regulation no. 7/2020, ASF Regulation no. 5/2018, and ASF Rule no. 39/2015

this report is provided as a free translation from Romanian, which is the official and binding document

SIF BANAT-CRIȘANA | QUARTERLY REPORT as of September 30, 2021

CONTENTS

1. GENERAL INFORMATION

3

2. MAIN FINANCIAL AND OPERATIONAL INFORMATION

4

3. PORTFOLIO AS OF SEPTEMBER 30, 2021

5

4. THE SHARES ISSUED BY SIF BANAT-CRIȘANA

11

5. THE MANAGEMENT OF SIGNIFICANT RISKS

13

6. SIGNIFICANT EVENTS DURING Q3 2021

20

7. FINANCIAL POSITION AND RESULTS AS OF SEPTEMBER 30, 2021

21

8. EVENTS AFTER THE REPORTING PERIOD

24

9. ANNEXES

Annex 1 - Condensed interim standalone financial statements as of September 30, 2021, prepared pursuant to the Financial Supervisory Authority Rule no. 39/2015 for the approval of accounting regulations in accordance with the International Financial Reporting Standards applicable to entities authorised, regulated, and supervised by the Financial Supervisory Authority, operating in the Financial Instruments and Investments Sector - unaudited

Annex 2 - Net asset statement as of September 30, 2021, prepared pursuant to Annex 10 of Regulation no. 7/2020

Annex 3 - Detailed statement of investments as of September 30, 2021, pursuant to Annex 11 of Regulation no. 7/2020

2

SIF BANAT-CRIȘANA | QUARTERLY REPORT as of September 30, 2021

1. GENERAL INFORMATION

CORPORATE NAME

COMPANY TYPE

Societatea de Investiții Financiare Banat-Crișana S.A. (hereinafter referred to as "SIF Banat-Crișana"or "the Company")

  • joint stock company, Romanian legal entity with entire private capital
  • established as a self-managed investment company, authorized by the Financial Supervisory Authority as Alternative Investment Fund Manager (AIFM) - Authorization no. 78 / 09.03.2018, and as closed- ended alternative investment fund, diversified, addressed to retail investors (AIFRI) - Authorization no. 130 / 01.07.2021

SHARE CAPITAL

▪ RON 51,542,236.30 - subscribed and paid-in capital

▪ 515,422,363 shares issued; entirely outstanding as of 30.09.2021

▪ RON 0.10 per share nominal value

REGISTRATIONS

▪ Number in Trade Register J02/1898/1992

▪ Tax Identification Code RO 2761040

▪ Number in ASF AFIAA Register PJR07.1AFIAA / 020007 / 09.03.2018

▪ Number in ASF FIAIR Register PJR09FIAIR / 020004 / 01.07.2021

▪ Legal Entity Identifier (LEI) 254900GAQ2XT8DPA7274

MAIN ACTIVITY

Main activity is, as per the classification of economic activities in the

national economy (CAEN): financial intermediation, except for

insurance and pension funds (CAEN code 64), and the main object of

activity: Other financial intermediation n.c.a. (CAEN code 6499):

portfolio management

risk management;

▪ other activities carried out within the collective management of an

investment fund, allowed by the legislation in force.

TRADING MARKET

The company is listed since November 1, 1999 on the regulated market

of Bucharest Stock Exchange (BVB) - Premium category - ticker SIF1

FINANCIAL AUDITOR

Deloitte Audit S.R.L.

DEPOSITARY BANK

Banca Comercială Română (BCR)

SHARES AND

SHAREHOLDERS' REGISTRY

Depozitarul Central S.A. Bucharest

HEADQUARTERS

Arad, 35A Calea Victoriei 310158, Romania

TEL +40257 304 438 FAX +40257 250 165

EMAIL sifbc@sif1.ro WEB www.sif1.ro

BRANCH OFFICE

SIF Banat-Crișana SA Arad-BucharestBranch-Rahmaninov

46-48 S. V. Rahmaninov Str., 3rd floor, sector 2, 020199, Bucharest

CONTACT Investor Relations: email investitori@sif1.ro tel +40257 304 446

3

SIF BANAT-CRIȘANA | QUARTERLY REPORT as of September 30, 2021

2. MAIN FINANCIAL AND OPERATIONAL INFORMATION

MAIN BALANCE SHEET ITEMS [RONm]

31.12.2020

30.09.2021

Total assets, of which

2,883.77

3,566.52

Total financial assets

2,859.53

3,500.39

Equity (own capital)

2,729.90

3,361.73

Total liabilities

153.87

204.79

FINANCIAL PERFORMANCE [RONm]

30.09.2020

30.09.2021

Operating income

56.94

125.61

Gain/(Loss) on investment

(84.83)

224.53

Operating expenses

13.87

14.94

Gross profit / (Loss)

(41.76)

335.20

Net profit / (Loss)

(42.43)

321.60

PERFORMANCE OF SHARES AND NET ASSET

31.12.2020

30.09.2021

Share price (end of period, RON)

2.2000

2.6800

NAV/S* (RON)

5.6051

6.5490

Accounting net asset / share (RON)

5.3055

6.5233

Nominal value of share (RON)

0.1

0.1

Number of shares issued

515,422,363

515,422,363

Number of outstanding shares

514,542,363

515,422,363

  • calculated acc. to ASF regulations
  • calculated considering the shares repurchased by the Company

OPERATIONAL DATA

31.12.2020

30.09.2021

Number of permanent employees

34

34

Branch offices

1

1

SHAREHOLDING STRUCTURE as of September 30, 2021

number of shareholders

holdings

Romanian individuals

5,742,643

40.12%

Non-resident individuals

2,081

0.35%

Romanian legal entities

132

39.22%

Non-resident legal entities

25

20.31%

TOTAL

5,744,881

100%

4

SIF BANAT-CRIȘANA | QUARTERLY REPORT as of September 30, 2021

3. PORTFOLIO AS OF SEPTEMBER 30, 2021

Investment objective and policy

SIF Banat-Crișana's investment strategy on long term aims to maximize the portfolio performance to increase the value of the assets under management and the investment income.

The financial objective is to reap an aggregate return on the portfolio generated from dividend and capital gains.

SIF Banat-Crișana's investment objective is the efficient management of a diversified portfolio comprised of high-quality assets, capable of providing a constant flow of revenues, the preservation and medium-long term capital growth, to increase the value for shareholders and obtain as high yields for the invested capital.

The strategic allocations by asset classes and within each class are based on assessments of the individual attractiveness of investment opportunities, under the conditions of the macroeconomic and market environment at the time.

SIF Banat-Crișana's investments, as AIFRI, are made exclusively in the assets and within the limits regulated by Law no. 243/2019 on alternative investment funds, amending and supplementing certain normative acts.

Investments are made over a certain period, under appropriate risk monitoring and control, to ensure a steady balance of risk and expected return. The investment decision-making process is formalized through internal procedures and the levels of competence approved by the company's Board of Directors.

The company applies an exit strategy tailored to the specifics of each investment, defined based on the applied strategy, the investment objectives, the conditions (triggers) of the exit transaction.

The execution of the various exit strategies is adapted and correlated with a series of internal and external factors, such as: the general economic perspectives; the evolution of financial markets; liquidity of listed securities and daily trading volumes; small business regionality; access barriers (interest), depending on the shareholding structure; SIF Banat-Crișana's liquidity needs.

As of September 30, 2021, SIF Banat-Crișana has under management a complex portfolio, consisting of (i) equity instruments: listed shares, unlisted shares (i) debt instruments: corporate bonds, bank deposits, fund units issued by AIF.

Lines of action in portfolio management:

  • building a diverse portfolio consisting of assets capable of achieving target returns at the designated risk level;
  • continuous increase of portfolio quality, as a basis for the increase of its value and the capacity to constantly generate income;
  • portfolio management and development so as to adapt to the global risk profile;
  • diversification of income channels for a high adaptability necessary in volatile periods;
  • ensuring an appropriate liquidity level to enable the desired investments to be made and operational expenses to be covered;
  • improving corporate governance practices.

In the investment process, SIF Banat-Crișana acknowledges that global sustainability challenges, including climate change, resource scarcity and human rights are of critical importance and need to be addressed. In this regard, to provide long-term value to the investments made, SIF Banat-Crișana analyses the sustainability risk of issuers with respect to the criteria applied to determine whether an economic activity qualifies as sustainable and contributes substantially to one or more of the sustainability objectives.

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Societatea de Investitii Financiare Banat Crisana SA published this content on 15 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 November 2021 16:14:07 UTC.


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