Grup Serban Holding SA (Romania)

Grup Serban Holding ( Issuer or GSH ) was established on 16.10.2018, in the form of a limited liability
company, then on 5.12.2019 it was transformed into a joint-stock company, obtaining the ONRC resolution at
date of 16.12.2019. The establishment of this company was realized as a result of the need to have a parent
company that would control the other companies with distinct activities, components of the Serban group of
companies, considering the accelerated growth plans, respectively:
• INTERAGROALIMENT SRL (IAA), established in 1994, registered in the Trade Register under no.
J04/850/1994, CUI RO5845723;
• FERMA AVICOLA SERBAN SRL (FAS), renamed in 2008, and established in 2000 under the name Rom
Trading Product SRL, registered in the Trade Register under no. J04/1787/2008, CUI RO12977123;
• FABRICA DE PAINE SERBAN SRL (FPS), established in 2008, registered in the Commercial Register
under no. J04/1211/2008, CUI RO24124510;
• SERBAN DISTRIBUtIE SRL (SD), established in 2005, registered in the Trade Register under no.
J04/1965/2005, CUI RO18096106.
As of the date of this report, the Issuer is the sole shareholder of the companies mentioned above.
GSH represents a group of companies with Romanian capital, in full expansion, which started its
activity in Onesti, in 1994. The structure of the group is integrated and contains the following fields of
activity: agriculture, trade in cereals, oilseeds and vegetables, growing poultry, bakery, pastry-confectionery,
catering (own chain of stores - Bacaniile Serban), distribution and transport.
In all fields of activity, the Issuer plans new projects, the fruition of new opportunities, the consolidation of
the current business, and all this can only be achieved with the full involvement of the human resources, of
the more than 400 employees of the Serban Holding Group, who represent the key his success.
The Issuer s mission is to offer partners quality products and services, to create an environment where
employees can maximize their potential, and to develop a trusted brand for Romania and beyond.
GSH is a dynamic company that continuously supports and promotes a healthy lifestyle through the products
it offers, understanding that the impact in society needs to be doubled by resilience and financial
performance.
GSH s vision is to become the domestic customer s first choice in food products (poultry, bakery, pastry and
confectionery) and to generate trends on the local specialty market, the Issuer wanting to become a top
producer on the Romanian market .
DESCRIPTION OF THE ISSUER S ACTIVITY
The activity of GSH started in 1994, when INTERAGROALIMENT SRL had as its object of activity the
production and sale of bakery and pastry products, followed shortly by the activity of milling, which, at the
time of 1994, rented a shop and a small bakery in the same premises. These activities were transferred, in
2008, to the portfolio of another company in the group, respectively Fabrica de Paine Serban SRL (FPS) ,
which developed the business, currently owning a bakery in the town of Filipesti, Bacau county, which serves
its 5 grocers , a confectionary/pastry laboratory and its own fleet that serves neighboring towns,
having distribution routes in Bacau and Vrancea counties,
as well as national distribution through the platforms of major retailers, as well as directly (eg Lidl, Profi Rom
Food, Rewe, Kaufland, Carrefour, Auchan).
In 2004, INTERAGROALIMENT SRL (IAA) acquired a broiler farm in Zorleni commune, Vaslui county, later
acquiring two other similar farms in Bacau county. Currently, the main activity of Interagroaliment SRL is the
cultivation and sale of cereals, oilseeds and vegetables, the business line of raising chickens and the
production of combined feeds being transferred to Ferma Avicola Serban SRL
In 2017, the activity of raising and selling poultry meat was taken over by Ferma Avicola Serban SRL
(FAS) , founded in 2008, with a total capacity of 880,000 heads/series (in 5 farms, from 3 locations). At the
same time, to increase the degree of production integration, the company operates a combined feed
production facility with a capacity of 7 tons/h of finished product, using raw materials from the group s grain
production.
Another company in the group is Serban Distributie SRL (SD) , established in 2005, representing a
support company for the group, being the vehicle through which services are provided (transport and
agricultural works) to the companies in the group, as well as the purchase of inputs for agriculture ,
having the technical-material basis for carrying out these activities.
In addition to the three companies briefly described above (FPS, FAS and SD), the parent company
INTERAGROALIMENT SRL, until 2018 inclusive, - when the consolidation of activities within GSH
(Grup Serban Holding SA) began, focused on land cultivation agricultural in the counties of Bacau, Vaslui
and Vrancea, this activity having started in 2005, by cultivating 1,500 ha. Currently, Interagroaliment SRL
exploits approximately 10,000 ha, within the counties of Bacau, Vaslui and Vrancea, organized into 5
vegetable farms, stretching from the Carpathians to the Prut, in the south of the North East Region, and
owns grain and oil plant warehouses with a capacity of approx. 133,000 tons, in 8 locations, in the counties
of Bacau, Vaslui and Iasi, being the largest company in the Moldova region, with CAEN code 150 - Activities in
mixed farms (vegetable culture). At the GSH level, over 12,000 hectares of arable land are exploited, of which
10,000 ha are exploited by IAA, the rest being exploited through affiliated companies.
GSH was founded in 2018 with the aim of incorporating the activity of the other already existing companies in
the group. Thus, the consolidation of the activity, including the financial statements, started in 2019, before
this moment the consolidation of the activity was carried out through the company Interagroaliment SRL.
GSH is both the parent company from the perspective of OMF no. 1802/2014, as well as the person declaring
for the fiscal group constituted, for profit tax purposes, starting with the declaration year 2022, benefiting
from the advantages offered by the legislation regarding holding and fiscal consolidation.
Grup Serban Holding carried out a private placement of shares on December 8, 2021, in which 80 investors
participated, including 18 qualified investors and 62 retail investors. The company issued a number of
5,974,247 shares in the capital increase operation, with an individual nominal value of 1 lei, at a price of 2.12
lei/share and attracted 12.7 million lei from investors. On February 28, 2022, the company s shares were
admitted to trading on the SMT segment of the Bucharest Stock Exchange under the symbol GSH at a market
capitalization of 359 million lei.