Energy Ministry: Fondul Proprietatea has destructive attitude within companies where state is minor shareholder

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Fondul Proprietatea (FP) has a destructive attitude within the companies where it is shareholder together with the Romanian state, which could lead to blocking the said companies’ activity as things happen repeatedly at Hidroelectrica, a release sent by the Energy Ministry to Agerpres on Thursday reads.

“In reference to yesterday’s (Wednesday, ed. n.) reaction of Fondul Proprietatea (FP) regarding the draft mandate contract of the members of Supervisory Council of Hidroelectrica proposed by the Energy Ministry (ME), this is a policy used more frequently in the last period by the FP for the discrediting of the ME actions by publishing certain conclusions and “worries” with no legal, real background. Beyond these episodes through which they try to inoculate within the public opinion an erroneous perception toward the energy authority, we are alarmed the destructive attitude of the FP’s representatives in the Boards or in the Supervisory Councils of the companies the FP holds minor shares to, alongside the Romanian state. This situation is but hampering or even blocking the companies’ activity, as it is the situation with Hidroelectrica, in a particular, repeated way,” says the communique.

The said ministry’s officials enumerate several cases in which in their opinion the Fondul Proprietatea has put Hidroelectrica in difficult situations, such as blocking the activity of the Supervisory Council (CS) by conditioning the presence to the sittings and the vote of the minor shareholder with the change of the agenda and the counting of certain points according to its requests.

The ME also reminded the hampering of the appointment of Hidroelectrica’s leadership by the resignation of the representative nominated by FP with the CS. Thus, Hidroelectrica recorded an unprecedented situation: it operated for several days with no leadership. Interesting is that subsequently to this situation, that the ME has managed beyond the FP behavior, the Fondul Proprietatea has presented as member of the CS the same resigning member, the ME informs.

After all efforts by the Energy Ministry to ensure leadership of Hidroelectrica, the FP commenced to boycott the former by challenging the registration of the Hidroelectrica Directorate to the Trade Register, since they were unsatisfied that these positions were not taken over by persons wanted by the FP. This action makes it difficult not only the company’s activity, but also the Hidroelectrica employees, says the ministry.

“As for the most recent momentum of public pressure regarding the ME proposition of mandate contracts, we specify that this is absolutely groundless and at its best, it explains an ignorance of the legislation in force by the FP representative. All of the clauses in respect to non-competition and conflict of interests are to be found in the contract proposed by the Energy Ministry. In addition, they are completed with the Romanian legislation that regulates absolutely all the aspects the FP is referring to,” the release adds.

 

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