The Hydroelectrica Green Electric Energy (H2O symbol), the most profitable company in the Romanian state's portfolio, has announced that it will consult the shareholders who have at least 5% of the share capital for completing the candidates' selection plan for the vacant positions in the Supervisory Board. The shareholders can send proposals until April 29, 2025. As a result of the request received from the Ministry of Energy, as a tutelary public authority, Hidroelectrica informed the market on the publication on the company's website of the following documents: “Invitation to consultations in order to finalize the initial component of the selection plan for the selection for the nomination for the vacancies. Initials of the selection plan for the nomination of the candidates for the positions of administrators at the public company Speeh Hidroelectrica SA -the project of updated expectations, under the provisions of the Government Emergency Ordinance no The methodological norms for applying some provisions of GEO no. Thus, the shareholders of Hidroelectrica, representing, together or individually, at least 5% of the share capital of the public enterprise, have the right to formulate proposals to amend and supplement the project of the initial component of the selection plan, including the letter of expectations, within five days from the date of publication.
The Ministry of Energy requests the revocation of the members of the Supervisory Board of Hidroelectrica for the fulfillment of a PNR Mike Last year, Hidroelectrica had a net profit of 4.1 billion lei, decreasing by 35% compared to 2023, at revenues of 9.1 billion lei, 25% lower. The company is valued at 54 billion lei, after the shares have dropped by 10% in the last 12 months. The Romanian state has just over 80% of the total H2O shares through the Ministry of Energy.
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