One of the changes enables the registration of the insolvent companies’ shares at a value settled by an evaluator. The shares had been registered at a zero-value by now.
CNVM amended Thursday a regulation based on which Proprietatea fund could pay dividends in 2013 only if the net asset per share exceeds the face value of RON1. This comes after including the stake owned in hydropower producer Hidroelectrica into the calculation of the net asset, at a value settled by an independent evaluator.
The administrator could settle the method of evaluating the shares of the companies in the fund’s portfolio that are under insolvency, reorganization or winding up procedure or any other form of reorganization or liquidation, as well as of those under temporary or definitive activity suspension.