The state-run Energocom will return 1 billion lei to the state budget and reduce its capital by this amount.
This is stipulated by a relevant decision adopted by the Commission for Emergency Situations, under the conditions of relative stabilization of the natural gas market and decrease in gas prices, given that Energocom is provided with sufficient reserves and liquidity for the 2023-2024 cold period and in order to partially return the funds invested in 2022 to the state budget. It was agreed that, in derogation from Article 77 paragraph (6) of the Law on Joint Stock Companies, Energocom SA will acquire 1 million of its own shares at the nominal price of 1000 lei per share in three tranches, but not later than November 30, in order to reduce the share capital. Energocom will acquire its own shares without applying the procedures stipulated in Chapter III of the Decision of the National Financial Market Commission on the approval of the procedure of acquisition by a joint stock company of its placed shares. The Public Property Agency, as the sole shareholder, should make appropriate decisions in connection with the procedure of purchasing 1 million shares of Energocom. It is stipulated that the National Financial Market Commission will not charge fees and charges in connection with the procedure of acquisition of Energocom's own shares and reduction of its authorized capital. In derogation from the Law on the Single Central Securities Depository, the Single Central Securities Depository will not charge fees established in accordance with the regulatory framework for the settlement of transactions with Energocom's corporate shares. // 15.09.2023 - InfoMarket.
