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NewsEUR 83 million will be borrowed for the construction of Gvozd Wind...

EUR 83 million will be borrowed for the construction of Gvozd Wind Park

Elektroprivreda Crne Gore (EPCG) will borrow EUR 82 million for the realization of the Gvozd wind park construction project.

The decision on this borrowing was adopted not at the Extraordinary Assembly of Shareholders, which was held on Friday.

– The draft decision on the approval of the loan agreement in the amount of EUR 82 million, which Elektroprivreda Crne Gore AD Nikšić intends to sign with the European Bank for Reconstruction and Development (EBRD) for the financing of the implementation of the Gvozd Wind Power Plant project, was adopted. Also, the proposed decision on the approval of the proposal of Annex 3 of the contract of members of the company between EPCG and the company Ivicom Holding GmbH was approved – it is stated in the press release of Elektroprivreda.

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The executive director of the company, Nikola Rovčanin, expressed satisfaction that EPCG continues with development projects.

– I congratulate everyone on the decision to implement this very important work for our company. The date for the conclusion of the contract will be defined soon. That is our mission, our plan and our goal. I believe that this is a great contribution to the development of our company and that in two years we will have a new energy facility, which is also important from the point of view of the current ecological reconstruction – said Rovčanin.

This, he added, is another in a series of energy facilities that we start and build.

– Which is a huge progress, especially when you consider that EPCG has been seriously lagging behind in terms of creating new capacities for four decades. Therefore, what we are doing now should serve the pride of both Elektroprivreda and you as shareholders – said Rovčanin.

At the meeting, a proposal for a decision on the reduction of the basic capital of Elektroprivreda based on the cancellation of its own shares was also adopted.

– Based on the cancellation of 8.47 million own shares with a nominal value of EUR 6.5 per share, the basic capital of the company in the amount of 769.93 million decreases by 55.22, and now amounts to 714.70 million EUR – they clarified.

Also, the proposal for a decision on changes to the Company’s Statute and determination of its refined text was adopted, and in accordance with the changes in the field of reduction of the share capital. The company’s share capital is divided into 109,659,921 shares.

– As part of the preparation for the discussion on point 3, it was noted that some of the minority shareholders, prior to the Assembly, submitted a written notification of their intention to use the rights of dissenting shareholders to buy back shares if the Assembly affirmatively declares the indicated point – the statement reads, local media wrote.

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