* The minority shareholder wants the replacement of the Board of Directors
Minority shareholder of "Oltchim", PCC SE, takes to the stage, after the fiasco of the company's privatization, and is asking its management to show the shareholders the plan for the restructuring of the company.
PCC SE has asked the making of additions to the agenda of the General Shareholder Meeting, scheduled to take place on November 5th, based on the statement made by Victor Ponta on October 9th, that the "restructuring/rescue plan has already been drawn up".
PCC also requests the replacement of the members of the Board of Directors, through cumulative voting, as well as the revision of the budget for 2012 and the drafting of a "realistic" budget for 2013, based on the current situation of the company, of the business environment and on business standards.
PCC also wants to see a report which would review the system for the distribution of the products of Oltchim, which would reveal the flaws which allowed the intermediaries to eat up the profit of the plant.
The Ministry of the Economy has also proposed the approval to guarantee the 15.72 million lei payment to "Salrom", booked by Oltchim, by setting up a mortgage.
The secretary of state in the Ministry of the Economy, Rodin Traicu said that the government intends to grant an emergency aid of 20 million Euros to the chemical plant.
ADINA ARDELEANU (Translated by Cosmin Ghidoveanu)
The Ministry of the Economy holds 54.8% of the shares of the chemical plant. Shareholders also include German company PCC SE (18.32%) and investment fund Carlson Ventures, registered in Great Britain, which holds 14.02% through Nachbar Services.
* The minority shareholder wants the replacement of the Board of Directors
Minority shareholder of "Oltchim", PCC SE, takes to the stage, after th
