On the Approval of Securities Valuation Acts Held by Fiduciary Administrators CF BV Fiduciar Invest SA, CF Econ-Renastere SA and Compania Fiduciara a Feroviarilor SA

REPUBLIC OF MOLDOVA
NATIONAL FINANCIAL MARKET COMMISSION

DECISION

8 October 2024 No. 46/7

On the Approval of Securities Valuation Acts Held by Fiduciary Administrators CF "BV Fiduciar Invest" SA, CF "Econ-Renastere" SA and "Compania Fiduciara a Feroviarilor" SA

On 13.09.2024, the fiduciary administrators CF "BV Fiduciar Invest" SA, CF "Econ-Renastere" SA and "Compania Fiduciara a Feroviarilor" SA submitted applications No. 96, No. 41 and, respectively, No. 32 dated 13.09.2024 (registered with the National Financial Market Commission (CNPF) under No. 6780, No. 6781 and respectively, under No. 6782), as well as the documents submitted in full volume (19.09.2024), related to the acts of valuation of client assets held in fiduciary administration (approved at the Liquidation Commission meeting on 13.09.2024).

Thus, on the basis of Art. 1 para. (3) and para. (4), Art. 146¹ of Law No. 171/2012 on the capital market (Law No. 171/2012), Art. 8 lit. b), Art. 20 para. (1), Art. 22 para. (3) of Law No. 192/1998 on the National Financial Market Commission, item 8 sub-item 2), item 25, item 26 and item 27 of the Regulation on the procedure for termination of fiduciary administration of investments activity (CNPF Decision No. 40/4/2018), item 16 and item 19 of the Regulation on the organization and functioning of the National Financial Market Commission (CNPF Decision No. 57/11/2022),

The National Financial Market Commission DECIDES:

1. The valuation acts of the securities held by the fiduciary administrators CF "BV Fiduciar Invest" SA, CF "Econ-Renastere" SA and "Compania Fiduciara a Feroviarilor" SA, which are exposed for sale in the manner established by Art. 146¹ para. (2) and of Law No. 171/2012, are approved, according to Annex No. 1.
2. The exposure for sale, without the announcement of the initial price (at the highest price proposed by the buyer), of the securities held by the fiduciary administrator CF "BV Fiduciar Invest" SA, in the manner established by Art. 146¹ para. (2) and para. (4) of Law No. 171/2012, is approved, according to Annex No. 2).
3. The Moldova Stock Exchange is permitted not to reflect in open positions the list of securities exposed to auction as single packages, according to Annex No. 1 and Annex No. 2.
4. The deregistration from the State Register of Legal Persons of the joint-stock company SA "Provit", held by the fiduciary administrator CF "Econ-Renastere" SA, is noted, according to Annex No. 3.

77 Stefan cel Mare si Sfant blvd., Chisinau, MD 2012, tel: (373 22) 859 401, www.cnpf.md, e-mail: office@cnpf.md

5. In the case of exercising the rights provided for by Art. 146¹ para. (3) of Law No. 171/2012, the presidents of the liquidation commissions of the fiduciary administrators "BV Fiduciar Invest" SA, "Econ-Renastere" SA and "Compania Fiduciara a Feroviarilor" SA will inform the CNPF, within a period of up to 3 working days from the date of submission of the redemption or sale application.
6. This Decision may be contested by submitting a prior application to the CNPF (MD-2012, Chisinau, Stefan cel Mare si Sfant blvd., No. 77), within 30 days from the date of communication.
7. This Decision enters into force on the date of adoption, is communicated to the recipients in accordance with the legislation and is published on the official website of the CNPF (www.cnpf.md).

(Signature)
Dumitru BUDIANSCHI,
PRESIDENT

*

Annex No. 1
to CNPF Decision
No. 46/7 of 08.10.2024

List of joint-stock companies in which share packages constitute more than 3 percent of the share capital and are exposed for sale within auctions organized within the MTF, with re-evaluation of the sale price

No.	Name of JSC	Address	IDNO	ISIN Code	Nominal Value, lei	Previous sale price per share, lei	Re-evaluated sale price per share, lei	% price reduction	Number of shares in fiduciary administration	% Held	Number of clients	Net assets per share at the time of setting the initial sale price, lei	period	Net assets per share, according to the last financial statement submitted to CNPF, lei	year
	I.	CF "BV Fiduciar Invest" SA
	a) joint-stock companies where the value of net assets exceeds the nominal value by 100%
1.	JSC "IRDT-Dondușeni"	m. Dondușeni, s. Corbu	1003604014601	MD14IEHD1008	17	26.43	25.11	5	167	3.77	2	136.8	2017	130.86	2021
2.	JSC "Infome"	Chisinau, Sarmizegetusa str. 37/2	1003600166591	MD14FOMA1008	15	14.10	13.39	5	463	4.58	207	72.97	2013	-	-
3.	JSC "Avicola-Talmaz"	m. Ștefan Vodă, s. Talmaza	251471	MD14AVTA1007	10	10.27	9.76	5	19 827	3.13	210	42.5	1998	-	-
4.	JSC "Gezzgen"	Ceadâr-Lunga, Lenin str. 119/a	1003611006691	MD14GEZE1000	9	4.12	3.91	5	484	9.56	13	21.29	2013	-	-
5.	JSC "Alet"	Chisinau, București str. 12/A	1002600035845	MD14ALET1005	1	1.41	1.34	5	470 485	30.87	-	6.48	Q4 2004	-	-
6.	JSC "Profilcons"	Soroca, Cosăuți str. 10	1003607012631	MD14PCSO1008	5	17.94	17.04	5	20 405	24.34	44	74.3	2009	-	-
7.	JSC "Hidroinpex"	Soroca, V. Stroscu str. 118/A	1003607005170	MD14INPE1009	20	8.70	8.26	5	23 122	3.66	680	40.05	2017	31.94	2023
8.	JSC "Lucrarea-Cărții"	Chisinau, Sarmizegetusa str.	1005604002736	MD14LAXI1005	5	1.99	1.89	5	6 791	10.22	205	9.17	2010	-	-
9.	JSC "Venus"	Dondușeni, București Independenței str. 4	1009604004508	MD14VENU1005	5	1.29	1.22	5	6 242	10.77	333	5.94	Q3 2002	-	-
10.	JSC "Izotermocon"	Taraclia, Vokzalnaia str. 51	1002600010989	MD14IZOT1009	10	3.30	3.13	5	12 191	24.47	1 342	15.12	2005	35.86	2023
11.	JSC "BTA-23 Taraclia"	Călărași, A. cel Bun str. 238	1004609000372	MD14BARA1003	10	47.14	44.78	5	180	0.45	5	20.56	2017	345.20	2023
12.	JSC "Concom RTCA"	Chisinau, Petricani str. 202	1003600070450	MD14ARTC1001	10	7.85	7.46	5	372	0.23	3	42.23	2017	36.68	2023
13.	JSC "Promstroi Grup"	Chisinau, Uzinelor str. 90	1002600004166	MD14SOGU1008	10	15.65	14.87	5	8 244	0.59	255	84.23	2017	118.23	2023
14.	JSC "Mașrut Servcom"	Chisinau, Petricani str. 23	1003600037481	MD14MASR1000	10	9.27	8.81	5	314	0.11	5	49.88	2017	56.00	2023
15.	JSC "Service auto prim"	Strășeni, M. Costin str. 2	1003600079257	MD14MASR1000	10	6.58	6.25	5	415	0.11	5	35.44	2017	83.26	2023
16.	JSC "Service auto prim"	Bălți, Heciului str. 2	1002600035363	MD14SEAU1005	23	11.99	11.39	5	85	0.075	5	64.47	2017	81.90	2023
17.	JSC "Unia"	Hâncești, Industrială str. 12	1002605000314	MD14UNIT1005	25	12.54	11.91	5	21	0.06	2	67.42	2017	64.49	2023
18.	JSC "Aparat"	Bălți, Senata piața str. 2	1003602033967	MD14APAR1007	9	0.39	0.37	5	304	0.06	7	2.32	2017	2.21	2023
19.	JSC "Aqua-Prut"	Cahul, Roșu village	1003603008520	MD14AQUA1008	10	10.38	9.86	5	465	0.22	3	62.88	2017	47.28	2023
20.	JSC "Servmec"	Cimișlia, Cetatea Albă str. 2	1003605007882	MD14SEME1001	10	4.58	4.35	5	300	0.12	5	27.66	2017	21.78	2023
21.	JSC "Claritate"	Bălți, Sf. Nicolae str. 3	1003602002587	MD14CLAR1009	1	0.47	0.45	5	601	0.34	8	2.82	2017	2.11	2023
22.	JSC "Cosânzeana"	Ungheni, Națională str. 15	1002609000688	MD14COSZ1006	1	1.18	1.12	5	2455	0.4	108	7.13	2017	6.43	2023
23.	JSC "DCRR-Orhei"	Orhei, S. Lazo str. 33	1003606005966	MD14DCRR1000	10	8.37	7.95	5	162	0.68	3	50.62	2017	30.65	2023
24.	JSC "Hidroinpex"	Soroca, V. Stroscu str. 118/A	1003607005170	MD14INPE1009	20	8.70	8.26	5	23 122	3.66	680	40.05	2017	31.94	2023
25.	JSC "Drenaj"	Chisinau, Uzinelor str. 188	1003600079969	MD14RENA1005	10	19.78	18.79	5	340	0.69	4	119.7	2017	60.06	2023
26.	JSC "Elegant-Stil"	Ocnița, Otaci, Dujbă str. 91	1003604001285	MD14ELES1002	10	5.31	5.04	5	78	0.14	7	36.11	2017	29.67	2023
27.	JSC "Garant-Auto"	Strășeni, M. Costin str. 8	1005600006471	MD14TERF1004	10	7.41	7.04	5	150	0.08	2	44.78	2017	39.99	2023
28.	JSC "Investcom"	Comrat, Gavriliuc str. 10	1003611010441	MD14GARN1003	7	11.59	11.01	5	128	0.16	4	70.15	2017	53.18	2023
29.	JSC "Mecons-21"	Chisinau, G. Tudor str. 3	1002600044573	MD14IVSM1006	10	7.09	6.74	5	306	0.27	11	42.91	2017	26.30	2022
30.	JSC "Rechin"	Bălți, Sofia str. 31	1003602005754	MD14MEON1004	1	0.55	0.52	5	4727	1.18	121	3.27	2017	3.54	2023
31.	JSC "Rectplast"	Briceni, Pescarilor str. 38	1004604001950	MD14RECH1001	10	17.26	16.40	5	79	0.19	6	104.5	2017	69.78	2023
32.	JSC "RIF-Acvaparat"	Anenii-Noi, Chișinăului str. 42	1003600125903	MD14REFP1008	10	4.10	3.89	5	540	0.32	3	24.84	2017	21.82	2023
33.	JSC "Spectrul"	Bălți, Decebal str. 9	1002602000519	MD14RIFA1001	5	10.67	10.14	5	120	0.03	5	64.53	2017	33.39	2023
34.	JSC "Vuldis"	Chisinau, Feredului str. 4	1003600022585	MD14PECT1009	14	7.41	7.04	5	373	0.42	3	45.84	2017	38.71	2023
35.	JSC "Avicola-Corlăteni"	Vulcănești, Frunzelor str. 115	1003611005733	MD14VULD1008	50	20.10	19.09	5	169	0.73	3	121.6	2017	91.10	2023
36.	JSC "Baza comercială agro textile"	Râșcani, Corlăteni village	1003602017918	MD14AVCO1000	10	8.46	8.04	5	1984	0.35	32	48.24	2017	34.85	2023
37.	JSC "SLI"	Chisinau, Petricani str. 23/2	1003600019963	MD14TEXT1000	10	4.96	4.71	5	4805	1.11	41	28.23	2017	21.06	2023
38.	JSC "Combinatul de colectare și prelucrare a cerealelor din Fălești"	Chisinau, Vatra, Constructorilor str. 8	1003600060275	MD14SLIR1003	8	0.85	0.81	5	57	0.02	5	5	2017	71.98	2023
39.	JSC "Fabrica de prelucrare a semințelor din Răuțel"	Fălești, Bogdan Vodă str. 31	1003602021869	MD14COMF1006	1	0.27	0.26	5	5967	0.23	27	2.48	2017	1.93	2023
40.		Fălești, Răuțel village	1002602001435	MD14UTEL1001	5	6.12	5.81	5	990	0.07	13	32.96	2017	12.18	2022

41.	JSC "Fertilitatea-Hîncești"	Hâncești, N. Cogălniceanu str. 3	1005605004508	MD14FERH1008	10	5.11	4.60	10	536	0.26	5	38.76	Q4 2002	-	-
42.	JSC "Grand M. R."	Chisinau, Cricova, Chișinăului str. 112/A	1003600028196	MD14GRMD1001	5	2.22	2.00	10	81	1.49	4	16.88	Q4 2007	-	-
43.	JSC "Caracuda-Hîncești"	Hâncești, Industrială str. 22	1002605000473	MD14CARA1002	4	0.62	0.59	5	159	0.07	2	5.219	2017	8.03	2023
44.	JSC "Asicon"	Călărași, Constructorilor str.	1002609001250	MD14ASIC1003	10	1.63	1.55	5	179	0.19	2	14.01	2017	16.85	2023
45.	JSC "BTA-26 Călărași"	Călărași, B. Glavan str. 16	1003609000372	MD14ANSP1001	40	9.27	8.81	5	100	1.1	2	79.89	2017	43.39	2023
46.	JSC "Hidroconstructor"	Cantemir, B. Glavan str.	1003606009791	MD14HID01009	10	3.15	2.99	5	102	0.09	1	24.1	2017	11.21	2023
47.	JSC "Grafica-Tipar"	Ungheni, Alexandru cel Bun str. 8	1003609012853	MD14GRAT1007	14	1.75	1.66	5	262	0.63	12	19.02	2017	14.38	2023
48.	JSC "Ialoveni"	Ialoveni, Alexandru cel Bun str. 31	1003600115946	MD14FEIA1006	10	1.23	1.17	5	275 973	76.88	6 750	7.17	2015	-	-
49.	JSC "Chimistul-M"	Chisinau, Muncești str. 803	1003600039943	MD14MIST1000	10	1.23	1.17	5	275 973	76.88	6 750	7.17	2015	-	-
50.	JSC "Lucrare"	Sângerei, Independenței str. 97	1003602034078	MD14LUCO1008	5	2.01	1.91	5	66 710	98.17	1 702	9.23	2017	2.77	2023
51.	JSC "Piele"	Chisinau, Ismail str. 99	1002600027619	MD14PIEE1000	8	6.41	6.09	5	3160	0.23	165	34.39	2017	7.24	2023
52.	JSC "Rîut" in insolvency proceedings	Bălți, Decebal str. 13	1002602000612	MD14ARTU1009	7	1.42	1.14	20	3250	0.05	36	15.3	2017	10.63	2023

II. CF "Econ-Renastere" SA
a) joint-stock companies whose net asset value exceeds the nominal value by 100%

53.	JSC "Tehoptimed"	Chisinau, Drăgan Maria str. 19/a	1003600087162	MD14TEHO1005	12	16.20	16.20	0	21 486	34.17	1 389	70.8	2017	97.71	2023
54.	JSC "Alet"	Chisinau, București str. 2/A	1002600035845	MD14ALET1005	1	1.35	1.28	5	900	0.06	57	6.48	Q4 2004	-	-
55.	JSC "Nord-Zahar"	Briceni, Uzinelor str. 30	1003604005353	MD14ZABR1004	10	3.10	2.94	5	31617	0.46	384	16.62	2017	13.94	2023
56.	JSC "Izotermocon"	Chisinau, Bucurei str. 12 a	1002600040508	MD14IZOT1009	10	3.46	3.29	5	3 602	7.23	140	15.12	2005	-	-

c) joint-stock companies where the net asset value is positive but does not exceed the nominal value

| 57. | JSC "Chimistul-M" | Chisinau, Muncești str. 803 | 1003600039943 | MD14MIST1000 | 10 | 0.99 | 0.94 | 5 | 7553 | 2.1 | 477 | 7.17 | 2015 | - | - |

III. "Compania Fiduciara a Feroviarilor" SA a) joint-stock companies whose net asset value exceeds the nominal value by 100%

| 58. | JSC "Alet" | Chisinau, Bucurei str. 12/A | 1002600035845 | MD14ALET1005 | 1 | 1.42 | 1.35 | 5 | 287 510 | 18.87 | 1 632 | 6.48 | Q4 2004 | - | - |

b) joint-stock companies whose net asset value is positive and exceeds the nominal value

59.	JSC "Nord-Zahar"	Briceni, Uzinelor str. 30	1003604005353	MD14ZABR1004	10	3.10	2.94	5	16 576	0.24	162	16.62	2017	13.94	2023
60.	JSC "Izotermocon"	Chisinau, Bucurei str. 12 a	1002600040508	MD14IZOT1009	10	2.96	2.81	5	1 310	2.63	162	15.12	2005	-	-

| 61. | JSC "Chimistul-M" | Chisinau, Muncești str. 803 | 1003600039943 | MD14MIST1000 | 10 | 0.99 | 0.94 | 5 | 5 263 | 1.47 | 88 | 7.17 | 2015 | - | - |

*

Annex No. 2
to CNPF Decision
No. 46/7 of 08.10.2024

Securities held by the fiduciary administrator CF "BV Fiduciar Invest" SA, which are exposed for sale within auctions organized on a regulated market and/or within an MTF, without announcement of the initial price (at the highest price proposed by the buyer)

No.	Name of JSC	Address	IDNO	ISIN Code	Nominal Value, lei	Initial sale price per 1 share, lei	Last sale price per 1 share, lei	Number of shares in fiduciary administration	% Held	Number of clients	Net assets per share at the time of setting the initial sale price, lei	period	Net assets per share according to the last financial statement submitted to CNPF, lei
1.	JSC "Gospodărașul" *	Chisinau, Mircea Eliade str. 11	1003600057262	MD14GPO1008	10	1.48	1.41	34	0.16	3	15.34	2017	-
2.	JSC "Daniel P" (in insolvency proceedings)*	Cahul, Ștefan cel Mare str. 29/A	1003603003466	MD14DANI1007	5	3.74	2.99	151	0.22	2	36.35	2015	-3.54 2023

*Share packages for which the last sale price was approved by CNPF Decision No. 34/6 of 16.07.2024.

*

Annex No. 3
to CNPF Decision
No. 46/7 of 08.10.2024

Joint-stock company that was deregistered from the State Register of Legal Persons as a result of liquidation, held by the fiduciary administrator C.F. "Econ-Renastere" SA:

No.	Name of joint-stock company	Address	IDNO	ISIN Code	Nominal Value, lei	Number of shares in fiduciary administration	% Held	Number of clients	Date of deregistration from RSLP
1.	JSC "Provit"	Cahul, Dunării str. 1	1005603000724	MD14OVIT1003	15	47	0.004	3	12.07.2024