The proposal was lodged two weeks ago by Romgaz’s largest two shareholders, the Romanian Energy Department and investment fund Fondul Proprietatea (FP.RO).
However, one week later, the Energy Department reconsidered its proposal, saying Romgaz’s executives already receive “sufficient pay.”
The Energy Department owns 70% in Romgaz, while Fondul Proprietatea holds a 10.01% stake.
Romgaz’s shares are listed in Bucharest and in London.
Wednesday, Romgaz closed up 0.03% at RON33.96 a share in Bucharest. (EUR1=RON4.4025)