Property Fund (FP) proposes to Conpet shareholders to distribute a bigger dividend for 2013, and the allocation of additional 70 million lei worth dividends, informs the official invitation to attend the Annual General Meeting of Shareholders (AGM) of Conpet.

The gross dividend proposed by FP is by 11.76 % higher than the one proposed by the company’s executives, and totals 33.01 million lei, compared to 29.5 million lei. In 2013, Conpet made ​​a profit of 34.77 million lei (7.86 million euros).

Besides the higher dividend rate, FP asks for other two installments dividend to be distributed, in total amount of 70 million lei. 40 million lei would be funds from “other reserves of the net profit in previous years” and another 30 million lei from the surplus resulted from reserves revaluation. The proposals will be discussed on April 29 by the shareholders in the Conpet AGM.

FP seeks a court decision to cancel Nuclearelectrica’s participation in two projects: Tarnița and interconnection cable with Turkey

FP, as a minority shareholder in Nuclearelectrica, asks the court to cancel the AGM decision on the participation of the Cernavoda plant operator in both the hydropower Tarniţa project and the submarine cable interconnection between Romania and Turkey.

Nuclearelectrica AGM approved the company involvement in the two projects with a stake of 8.9 million lei in the equity of the project company Hidro Tarniţa, and with a stake of 2 million lei in the capital of Romania -Turkey HVDCC, the project company for the construction of the interconnection cable between the two countries bordering the Black Sea.

At the end of March, Nuclearelectrica announced that FP asked the Bucharest Court to dismiss the application for registration the AGM’s decision on the two projects in the Trade Register.