By Milen Vesovic
Belgrade, Dec.10, 2009 (Serbia Today) - On January 6th of next year, Serbian citizens meeting certain qualifications, will receive five shares of Naftna Industrija Srbije (NIS) at the nominal value of RSD 2,500 and RSD 1700 from the Privatization Registry each, announced Minister of Economy and Regional Development Mladjan Dinkic.
Dinkic said that by the end of the year, amendments be adopted to the Law on the Right to Free Shares, which will provide procedures for the free distribution of shares of companies that are not yet privatized.
Dinkic said that in 2010, shares would be distributed from Telekom Serbia, Belgrade Airport and from the Unified Action.
Dinkic conveyed the recommendation of the Serbian Government that shares of large public companies be traded on the Belgrade Stock Exchange (BSE). It is hoped that the highest price will be obtained by trading on the open market.
The Minister advised small shareholders in NIS should work together on the basis of controlling their shares and elect representatives to the board of the company, in order to affect the board business and dictate dividends.
According to the current structure, small shareholders could count on two seats on the board of NIS, which would have to relinquish their state allotted seats, said Dinkic.
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