* Six months for the share capital increase of the plant of Vâlcea
* Constantin Roibu was not dismissed
The receivable of "Oltchim" against the AVAS will also include the interest pertaining to the 2007-2011 period, after the shareholders of "Oltchim" (OLT) yesterday approved the private law agreement concluded in that regard on December 22nd, 2011.
The approval of the convention depends on the signing of an addendum to it, which would mention the interest calculated for the period elapsed since January 1st, 2012, as well as a resolutory condition according to which the document will become null and void within six months from the publication of the Extraordinary General Shareholder Meeting the debt to equity conversion doesn't take place.
The interest calculated until April 23rd, 2012, which are supposed t be included in the amount of the receivable of the AVAS, amount to 533.77 million lei. To this the debt of 538.33 million lei will be added, a debt which will be converted into stock, as part of the procedure to increase the plant's share capital.
On March 7th, after almost four years of investigation, the European Commission approved the conversion into stock of the debt of the chemical plant of "Oltchim" by the AVAS (ed. note: the Authority for the Recovery of State Assets Recovery).
Minority shareholder PCC SE, known for its open warfare against the management of "Oltchim", has proposed the presentation of a report concerning the current status of the negotiations between "Oltchim" and the AVAS, according to the decisions made by the shareholders on August 30th, 2011.
The management of the company answered that the interest was calculated according to the algorithm communicated by the European experts.
In their meeting of August last year, the shareholders of OLT approved, on principle, the signing of a conv
