The propositions to increase the share capital of Electrica’s five branches, namely, Electrica Distributie Nord, Electrica Distributie Transilvania Sud, Electrica Distributie Muntenia Nord, Electrica Furnizare and Electrica Serv, are subject to shareholder approval at a meeting due December 18.
The contribution in kind consists of 31 land plots owned by Electrica branches.
The capital increase will be operated by issuing shares with a face value of RON10 per unit which will be distributed to each branch.
The share capital of Electrica Distributie Transilvania Sud will be increased by RON19.39 million, the highest amount.
Electrica is 48.78% owned by the Romanian state, through the Economy Ministry, several companies control 31.38% of its shares, while a 9.66% stake is distributed among several individuals.
Electrica distributes electricity to three regions in the country and is the largest electricity distributor by number of customers.