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Free shares to be distributed from January 6
Belgrade,
8 December 2009
Deputy Prime Minister and Minister of Economy and Regional Development Mladjan Dinkic today announced that the government will start distributing free shares in the Serbian oil industry Naftna Industrija Srbije (NIS) from January 6, 2010.
Author:
Fonet
At a press conference on the commencement of the distribution of free shares and amendments to the Law on the right to free shares and pecuniary compensation which citizens obtain from the process of privatisation, Dinkic said that as of January 6 Serbian citizens who fulfil the conditions for free shares will receive five NIS shares each.
He said the shares are worth RSD 2,500, adding that citizens will also be given RSD 1.700 each from the Privatisation Registry.
The Minister said that by the year’s end amendments to the Law on the right to free shares and pecuniary compensation which citizens obtain from the process of privatisation will be adopted so that the shares of the not yet privatised companies could also be distributed.
He specified that in 2010 the shares of Telekom Srbija will also be distributed, along with the shares of Belgrade Airport, while those of the Serbian electric power industry EPS will be handed out in 2011.
The government recommends that citizens trade the shares of large companies at the Belgrade Stock Exchange because they will get the highest price there, noting that they should not sell NIS shares immediately, but after the company is transformed into an open joint stock company and its shares offered on the stock exchange.
Speaking about the distribution of cash from the Privatisation Register, he recalled that around 4.8 million citizens have obtained the right to free shares and will receive a total of RSD 8 billion from the Privatisation Register, that is, RSD 1.700 each.
Dinkic announced that the assets of the Shareholder Fund and the Privatisation Register will be merged to form another institution, Consolidated Shares, which will be run by the Privatisation Agency. The funds from privatisation processes that are yet to be completed, such as those of public utility companies, Jat Airways, Galenika and others, will be sent to this institution.
The government has authorised Postanska Stedionica bank to act as a free-of-charge broker for citizens receiving NIS shares, the Minister recalled, adding that citizens will be able to sell or register their free shares through other banks as well.
He said the shares are worth RSD 2,500, adding that citizens will also be given RSD 1.700 each from the Privatisation Registry.
The Minister said that by the year’s end amendments to the Law on the right to free shares and pecuniary compensation which citizens obtain from the process of privatisation will be adopted so that the shares of the not yet privatised companies could also be distributed.
He specified that in 2010 the shares of Telekom Srbija will also be distributed, along with the shares of Belgrade Airport, while those of the Serbian electric power industry EPS will be handed out in 2011.
The government recommends that citizens trade the shares of large companies at the Belgrade Stock Exchange because they will get the highest price there, noting that they should not sell NIS shares immediately, but after the company is transformed into an open joint stock company and its shares offered on the stock exchange.
Speaking about the distribution of cash from the Privatisation Register, he recalled that around 4.8 million citizens have obtained the right to free shares and will receive a total of RSD 8 billion from the Privatisation Register, that is, RSD 1.700 each.
Dinkic announced that the assets of the Shareholder Fund and the Privatisation Register will be merged to form another institution, Consolidated Shares, which will be run by the Privatisation Agency. The funds from privatisation processes that are yet to be completed, such as those of public utility companies, Jat Airways, Galenika and others, will be sent to this institution.
The government has authorised Postanska Stedionica bank to act as a free-of-charge broker for citizens receiving NIS shares, the Minister recalled, adding that citizens will be able to sell or register their free shares through other banks as well.
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