On the Granting of a License for the Administration of Voluntary Pension Funds to ARAGONN GRUP S.A.

NATIONAL FINANCIAL MARKET COMMISSION OF MOLDOVA October 15, 2024

On the Granting of a License for the Administration of Voluntary Pension Funds to the Voluntary Pension Fund Management Company "ARAGONN GRUP" S.A. No. 4713

Pursuant to Article 25(2)(a) of Law No. 198/2020 on Voluntary Pension Funds (hereinafter: Law No. 198/2020), pension companies established in accordance with the provisions of the aforementioned law may carry out the activity of administering voluntary pension funds, subject to obtaining a license, in accordance with Law No. 198/2020.

Thus, for the purpose of obtaining a license for the administration of voluntary pension funds, the Voluntary Pension Fund Management Company "ARAGONN GRUP" S.A. (hereinafter: the Company), through its request dated June 12, 2024 (registered with the National Financial Market Commission (CNPF) under No. 4583), requested the issuance of the respective license.

Consequently, in response to the CNPF request No. 03-512277 dated July 9, 2024, the Company presented additional documents and information related to the case on August 16, 2024 (registered with the CNPF under No. 6215).

In accordance with the norms established in Article 41(2) of Law No. 198/2020 and point 63 of the Regulation on the Approval of the Establishment of a Pension Company and Licensing of the Administrator of Voluntary Pension Funds (CNPF Decision No. 4115/2023), the Company presented the corresponding documents.

Furthermore, pursuant to Article 41(3) of Law No. 198/2020, the documents submitted as part of the procedure for obtaining the establishment approval were submitted only to the extent and in the form in which they underwent modifications.

In this case, the CNPF, by Decision No. 1911/2024, decided on the issuance of the establishment approval for the Company, the approval of the persons proposed for the management of the Company's activities, and the issuance of the prior approval for the acquisition of a qualified participation.

Subsequently, the CNPF, by Decision No. 4412/2024, decided on the approval of the persons proposed for the management of the Company's activities as follows:

1. Ms. Elena Pui - in the capacity of General Director;
2. Mr. Victor Sandu - in the capacity of a member of the Company's Board;
3. Ms. Ana Cazacu - for the position of Internal Auditor.

Based on the factual and legal circumstances invoked above, pursuant to Article 8(c) and (m), Article 20(1), and Article 22(3) of Law No. 192/1998 on the National Financial Market Commission, Article 41(1), (4), and (8) of Law No. 198/2020, point 64 of the Regulation on the Approval of the Establishment of a Pension Company and Licensing of the Administrator of Voluntary Pension Funds (CNPF Decision No. 4115/2023), and points 16, 19, and 21 of the Regulation on the Organization and Functioning of the National Financial Market Commission (CNPF Decision No. 5711/2022),

The National Financial Market Commission DECIDES:

1. A license for the administration of voluntary pension funds is granted to the Voluntary Pension Fund Management Company "ARAGONN GRUP" S.A. for an unlimited term.

2. This Decision may be contested by filing a preliminary request addressed to the CNPF (MD-2012, Chisinau, Stefan cel Mare si Sfant Blvd., No. 77) within 30 days from the date of notification.

3. This Decision enters into force on the date of adoption, is communicated to the recipient in accordance with the legislation, is published in the Official Monitor of the Republic of Moldova, and on the official website of the CNPF (www.cnpf.md).

Dumitru BUDIANSCHI, PRESIDENT

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