Montenegro: TSO Co CGES announces annual shareholder session to discuss business results

3. June 2014. / SEE Energy News

The shareholders of the Montenegrin Electric Transmission System CGES at the annual session on June 27th , will review a report on the operations and financial statements for the previous year.
On the agenda is the election of auditors, as well as decisions on dismissal and election of members of the Board of Directors.

CGES ended last year with a net profit of 2.64 million euros, two and a half times less than at the end of 2012.
According to the statement of operations, which is published on the website of the Securities, operating income of the company at the end of December was 26.65 million euros and 8.6 percent lower than in the comparative period.
The state owns 55 percent of shares CGES, while Italian Terna owns about 22.09 percent of the shares.
Behind HB collective custody account three the owner of 3.78 percent of the shares is hidden, while fund Trend has 2.82 percent. Moneta has 1.6 share, while the Company for management services and property management MIG has 1.55 percent. Other shareholders have less than one percent of the shares.

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