Post by radovic on Apr 22, 2008 13:32:50 GMT -5
Big choices for EPCG shareholders
Friday, 04 April 2008 00:09
Shareholders of Montenegro's only electricity company EPCG are now deliberating the pros and cons of establishing a number of new limited companies to increase the efficiency of the monopoly. The limited companies would separately be responsible for production, transfer, distribution and supply.
Shareholders will openly debate a number of proposals offered by the company's management at what is being described as an "extraordinary" assembly.
A restructuring is not the only major matter EPCG shareholders have to consider these days. In order to meet the goals outlined in the Montenegrin government's Energy Strategy 2025, EPCG will have to build new power plants and revitalize old ones. Energy Strategy 2025, released in December 2007, calls for hydro power plants, capable of generating 693.7 gigawatt hours (GWh) of electricity annually, to be constructed on the Moraca River.
EPCG is looking for partners and the Norwegian energy giant Statkraft has expressed its interest in partnering to realize the goals. Shareholders will be asked to decide what conditions must be met by potential suitors. There will, no doubt, be a queue of potential investors and partners lined up for EPCG's Board and management to choose from.
EPCG has nominal holdings in two Montenegrin banks and shareholders will be asked whether or not they want to divest themselves of the banks in order to establish a welfare fund. EPCG holds 192 shares in Podgorièka Banka and those shares are currently valued at 255 Euros a piece. Investbanka Montenegro is the other financial institution that EPCG has invested in with total holdings of 8280 shares valued at 51 Euros per. It is not clear exactly who the beneficiaries of the proposed welfare fund would be.
Friday, 04 April 2008 00:09
Shareholders of Montenegro's only electricity company EPCG are now deliberating the pros and cons of establishing a number of new limited companies to increase the efficiency of the monopoly. The limited companies would separately be responsible for production, transfer, distribution and supply.
Shareholders will openly debate a number of proposals offered by the company's management at what is being described as an "extraordinary" assembly.
A restructuring is not the only major matter EPCG shareholders have to consider these days. In order to meet the goals outlined in the Montenegrin government's Energy Strategy 2025, EPCG will have to build new power plants and revitalize old ones. Energy Strategy 2025, released in December 2007, calls for hydro power plants, capable of generating 693.7 gigawatt hours (GWh) of electricity annually, to be constructed on the Moraca River.
EPCG is looking for partners and the Norwegian energy giant Statkraft has expressed its interest in partnering to realize the goals. Shareholders will be asked to decide what conditions must be met by potential suitors. There will, no doubt, be a queue of potential investors and partners lined up for EPCG's Board and management to choose from.
EPCG has nominal holdings in two Montenegrin banks and shareholders will be asked whether or not they want to divest themselves of the banks in order to establish a welfare fund. EPCG holds 192 shares in Podgorièka Banka and those shares are currently valued at 255 Euros a piece. Investbanka Montenegro is the other financial institution that EPCG has invested in with total holdings of 8280 shares valued at 51 Euros per. It is not clear exactly who the beneficiaries of the proposed welfare fund would be.