The joint stock company “Elektromreža Srbije”, according to the decision of the Government of the Republic of Serbia, bought on January 12, 2021, on the Montenegro Stock Exchange, an additional five percent of shares of the Transmission System Operator of the Republic of Montenegro – “Crnogorski elektroprenosni sistem”
EMS AD thus became the owner of a total of 15 percent of the company’s shares. 7,288,197 shares were purchased at an average price of 0.9493 euros (rounded to four decimal places) per share for which 6,918,738 euros were paid. The shares were bought from small shareholders.
Recall, EMS AD entered the ownership structure of CGES in December 2015 by buying 10.0141 percent of shares.
The purchase of additional shares of the company “Crnogorski elektroprenosni sistem” AD in economic and business terms represents a justified investment in a successful company that performs the same activities as our company, and whose revenues, profits and assets show a tendency to grow. EMS AD realizes a proportional right to dividend, from which financial profit is expected.
EMS AD is intensively conducting investment activities on the territory of the Republic of Serbia and at the same time working on strengthening its transmission interconnection capacities.
On the territory of the Republic of Serbia, the company is actively building a strategically important project, the Trans-Balkan Corridor for the Transmission of Electricity, and a maritime cable has been laid and put into operation between Montenegro and Italy, which is an integral part of that corridor.
The purchase of an additional package of shares is part of EMS’s strategic commitment to actively participate in strengthening the pan-European connectivity of the Eastern and Western bloc countries, as well as in creating and strengthening the base for the development of the European electricity market. In this way, EMS strengthens its position as a regional leader.
Source: EMS AD
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