The state-owned company Energocom returned 500 million lei to the state budget - half of the amount provided for by the decision of the CoES of September 13, 2023.
As noted in the company's message, according to the order of the Commission for Emergency Situations No. 81 dated September 13, 2023, the state company Energocom until November 30 of this year must purchase 1,000,000 of its own shares to reduce the authorized capital, using financial resources invested during 2022. This decision was made in the context of the relative stabilization of the natural gas market and lower gas prices, taking into account the provision of Energocom JSC with sufficient reserves and liquidity for the cold period of 2023-2024, with the aim of partially returning to the state budget financial resources invested during 2022. The decision of the CoES stipulates that, in derogation from part (6) of Article 77 of the Law on Joint Stock Companies, Energocom Joint Stock Company will acquire 1 million own shares at a nominal price of 1 thousand lei per share in three tranches, but no later than November 30, 2023, in order to reduce the authorized capital. Energocom JSC will acquire its own shares without applying the procedures provided for in Chapter III of the Resolution of the National Commission on Financial Markets No. 42/1/2017 on approval of the procedure for the acquisition by a joint stock company of shares placed by it. The Public Property Agency, as the sole shareholder, was entrusted with making the appropriate decisions in connection with the procedure for the acquisition of 1,000,000 shares issued by Energocom JSC. It was agreed that the National Commission on Financial Markets will not charge fees and payments in connection with the procedure for the acquisition of Energocom JSC's own shares and the reduction of its authorized capital. In derogation from the provisions of the Law on the Unified Central Securities Depository, Unified Central Securities Depository JSC will not charge commissions established in accordance with the regulatory framework for settlements on transactions with corporate securities of Energocom JSC.// 06.10.2023 — InfoMarket
