The Board of Directors of the Montenegrin Transmission System, at its 2nd ordinary session, unanimously adopted Proposal for a resolution on the appropriation of net profit for 2020 in the amount of over 12.459.748 € , which is in the spirit of what he had also announced to the shareholders Aleksandar Mijušković, chairman of this highest body, at the June extraordinary General Meeting of Shareholders. In this way, CGES further demonstrates its responsibility to its shareholders, which in turn contributes to increasing their sense of security, and thereby their trust. to our company, which is essential for further successful business.
Despite the unfavourable economic environment in Montenegro and Despite the coronavirus pandemic, which brought a new reality for companies and faced them with major problems and challenges, the Montenegrin Transmission System achieved an impressive result during 2020. Accordingly, net profit Montenegrin Electricity Transmission System AD for the year 2020, which amounts to 12,459,748€,will be arranged, as provided for by the decision, in such a way that will her 60 per cent share, i.e. the amount of 7,475,848.80 € pay out as a gross dividend amount to the shareholders of the CompanyšVAT, while 40 per cent of the net profit, i.e. the amount of 4,983,899.20 €, arrange as unarrangedđIt can be used to offset and be carried forward against profits from previous years. The gross dividend per paid-up share amounts to 0.051336453. €, and the net value per paid-up share will amount to just over four cents, or 0.046716173 €.
In accordance with the Law on Commercial Companies and the Statute of CGES, an Extraordinary General Meeting of Shareholders will be held on 26 October 2021, at which a decision will be made on the proposed resolution of the Board of Directors of this energy company.
We would like to remind you that CGES has achieved outstanding business results for the first six months as well this year with a profit of 8.6 million euros , thanks to, among other things, exceptional self-sacrifice, commitment and expertise of our employees.
At the same meeting, the CGES Board of Directors considered the most significant topics from the work and operations of this majority state-owned company. In this regard, decisions were adopted. for the updated CGES investment plan for the period from 2020 to 2022, Draft Rules for the Operation of the Electricity Transmission System and Methodology for Determining the Connection Charge to the Electricity Transmission System, and other matters.