Romgaz decided to increase the share capital by approximately 3.47 billion lei (697 million euros) to include reserves from its own funding sources, company officials told Energynomics.

Thus, the money will be easier to access for projects like Neptune Deep.

Apart from Neptun Deep, the company’s multi-annual strategy to 2030 also foresees investments in around 180 MW of green energy, especially in photovoltaic parks.

According to the company’s convenor, which Energynomics consulted, the company will issue 3.46 billion new shares with a nominal value of 1 leu.

Romgaz calls an Extraordinary General Meeting of Shareholders (EGMA) for December 18, 2023, at 2:00 p.m. (Romania time), to “approve the increase in the share capital of S.N.G.N. Romgaz S.A. with the amount of 3,468,801,600 lei, through the issuance of 3,468,801,600 new shares, with a nominal value of 1 lei/share, and to approve the incorporation into the share capital of S.N.G.N. Romgaz S.A. of the amount of 3,468,801,600 lei, representing reserves regarding own sources of financing”.

Simultaneously, Romgaz’s share capital increases to 3,854,224,000 lei, having been fully subscribed. The share capital is divided into 3,854,224,000 shares, each share having a nominal value of 1 leu. The Romanian state owns a number of 2,698,230,800 shares, and the rights of the state, as a shareholder, are exercised through the Ministry of Energy. Other than the Romanian state, there are a total of 1,155,993,200 shares owned by natural and legal persons, both domestic and foreign.