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March 4, 2021

FP to sue Romgaz for RON 400 M donation

Fondul Proprietatea (FP) will sue against Romgaz’s decision to donate RON 400 M to the state budget, according to a press release remitted to “Nine O’Clock”. The FP officials argued the operation will seriously affect the company’s profit, shareholders, corporative governance regulations and the foreign investors’ perception of the local capital market. The announcement was made, yesterday, by representatives of Franklin Templeton, FP’s administrator. The Ministry of Economy, which holds 85 per cent of Romgaz shares, decided, in the company’s General Shareholders’ Assembly, held on November 30, the RON 400 M donation to the state budget. As a minority shareholder, with 15 per cent of the shares, FP voted against the decision.

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