The EGM agenda includes the buy-back of 3.5 billion Fondul Proprietatea shares between January 1, 2023 and December 31, 2023, in order to reduce the share capital of the company. The buy-back should be done at a price of RON0.2 to RON0.3 per share, which would take the amount paid to RON7 billion.
The shareholders will also approve the sale of Fondul Proprietatea’s stake in Hidroelectrica, Romania’s largest electricity generation company and the most profitable state-run company in the country, or 19.94% of the shares issued by Hidroelectrica.
During the OGM, the shareholders will be asked to vote on next year’s budget of Fondul Proprietatea and on an increase in the gross monthly remuneration of each member of the Board of Nominees by 10% from RON21,123 to RON26,535.
(English version by Loredana Fratila-Cristescu)