The national electricity transmission company Transelectrica (stock symbol TEL) has informed the capital market about the requests registered at the Vienna Arbitration Center by two former members of the Supervisory Board within the company.
“Mircea Cristian Staicu (RO) VS. Transelectrica SA (RO). Through this arbitration request, Mr. Mircea Cristian Staicu requested the obligation of CNTEE «Transelectrica» SA, to pay the total amount of 1,140,634.51 lei; Mihaela Popescu (RO) VS. Transelectrica SA (RO). Through the above-mentioned arbitration request, Mrs. Mihaela Popescu requested the obligation of CNTEE «Transelectrica» SA to pay the total amount of 1,140,634.51 lei”, according to a report from the Bucharest Stock Exchange.
Transelectrica had a net profit of 80 million lei in Q1/2023, ten times higher than the result in Q1/2022, and operating revenues of 1.1 billion lei, down 10% from year to year. The company is valued at around 1.9 billion lei, in the context in which TEL shares are trading up 36.5% in the last year, on a turnover of 61.5 million lei.
“The claims made against the Company represent compensation based on the mandate contracts concluded in application of the Decision of the General Meeting of Shareholders no. 9/28.09.2021, as well as accessories”, the report also states.
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