Electrica employees will be able to buy shares worth EUR 190mln

Electrica employees will be able to buy shares in privatized subsidiaries at a price ranging between EUR 3.17 and 45.26 per unit, depending on the subsidiary, higher than the price at which the state sold its shares in 2005 to E.ON, Enel and CEZ, the total estimated amount exceeding EUR 190mln. The estimate is calculated on the scenario in which the Government decides to sell a number of shares representing exactly 10% of the share capital of each subsidiary. In 2005, Electrica SA privatized four subsidiaries to energy groups E.ON (Germany), Enel (Italy) and CEZ (Czech Republic) and under the privatization contracts of each subsidiary, some subsequently reorganized in different entities, it has been undertaken to sell to Electrica employees a stake of “up to 10% of the shares”, without specifying whether the titles would be assigned by the buyer or by the state. So far however no employee has been able to buy shares, because the deadlines until when they could do so were extended from one year to another, by government decisions.

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