Should the money stay in the company or should it be paid off in the form of dividends? This is the question that market players ask themselves during this time of year, as this is the season of General Shareholder Meetings and dividend announcements. When it comes to reducing share capital and distributing the money in the form of bigger dividends, investor interest increases even more. And when it goes as far as halving the share capital of the Bucharest Stock Exchange, the interest really peaks. For now, the Board of Directors has rejected the inclusion of this item on the agenda of the General Shareholder Meeting of the BSE. Still, the money is there, and the issue remains on the table.

* Returning to the headquarters it had between the two world wars

The handiest solution for the BSE would be to renovate the old Palace of the Exchange located on the Doamnei street (across the street from the NBR) and relocate there. According to the statement of the governor of the NBR Mugur Isărescu made in July 2010, the National Library will relocate to the new building on the Unirii boulevard, and the Bucharest Stock Exchange would return to the old headquarters of the Doamnei Street, across the street from the NBR. The location in question would be connected to an office building which would be built nearby. According to an estimate by Sorin Dimitriu, the chairman of the Chamber of Commerce and Industry of Bucharest (which currently owns the building) renovating it would cost about 10-12 million Euros.

Considering an exchange rate of 4.15 lei/Euro, half of the share capital of the BSE represents about 9.25 million Euros. Comparing the figures, this amount could be used to cover most of the estimated cost of renovating the building.

* Stere Farmache, the chairman of the Board of Directors of the BSE

"We are talking about a request of some shareh