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More free shares for citizens by end-year
Belgrade,
23 October 2010
Director of the Serbian Privatisation Agency Vladislav Cvetkovic announced that before the end of the year citizens will be distributed free shares of the Share Fund and Nikola Tesla Airport.
Cvetkovic noted that preparation for the distribution of the shares is under way and that 4.8 million citizens, who do not meet the requirements for shares from privatisation, will be able to receive these shares, just as they have been given the shares of the Serbian oil industry Naftna Industrija Srbije (NIS).
The Privatisation Agency will initiate the distribution procedure and the government will make the final call on this matter. It will then be known how many shares each citizen will receive, he explained.
Preparation for the distribution of Telekom Srbija shares is also under way and by the end of the year we will know how many shares will be granted per citizen, Cvetkovic affirmed noting that the shares will be distributed next year.
Cvetkovic also declared that the distribution procedure will be the same as it was for NIS’ shares.
Thanks to amendments to the Law on the right to free shares and monetary compensation, citizens are entitled to free Telekom Srbija shares, along with shares of the electric power industry of Serbia Elektroprivreda Srbije (EPS) and Nikola Tesla Airport, as well as shares of the Share Fund which was created by merging the Share Fund and the Privatisation Register.
A total of 15% of shares of public utility companies will be transferred to the Share Fund once the privatisation of these companies commences.
The Privatisation Agency will initiate the distribution procedure and the government will make the final call on this matter. It will then be known how many shares each citizen will receive, he explained.
Preparation for the distribution of Telekom Srbija shares is also under way and by the end of the year we will know how many shares will be granted per citizen, Cvetkovic affirmed noting that the shares will be distributed next year.
Cvetkovic also declared that the distribution procedure will be the same as it was for NIS’ shares.
Thanks to amendments to the Law on the right to free shares and monetary compensation, citizens are entitled to free Telekom Srbija shares, along with shares of the electric power industry of Serbia Elektroprivreda Srbije (EPS) and Nikola Tesla Airport, as well as shares of the Share Fund which was created by merging the Share Fund and the Privatisation Register.
A total of 15% of shares of public utility companies will be transferred to the Share Fund once the privatisation of these companies commences.
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