The number of shares granted to the employees may be supplemented up to 6,195,500. The free-of-charge distribution of the shares to the rightful persons is part of the Petrom Collective Labour Agreement, applicable in 2008, as well as of the Protocol concluded between Petrom and the Free and Independent Trade Unions’ Federation in the Romanian Oil Industry – FSLI Petrom.
The OMV Petrom Shareholders General Assembly approved on December 16, 2009 the own shares redemption from the organized transferable securities market, in order to distribute them to the rightful persons.
Thus, OMV Petrom procured 6,195,500 shares, representing 0.011 percent of the share capital, at a price that ranged from 0.2730 lei a share to 0.2930 lei a share.
As per the Protocol, OMV Petrom will freely distribute 100 shares to each person benefiting from this right.
According to the forecast, the number of rightful persons (who were employed by the company since December 14, 2004 until the initiation of the shares distribution process) is 61,342 people. OMV Petrom SA is the largest Romanian oil and gas company, its scope of activity including the Exploration and Production, Refining and Marketing, Natural Gas and Power sectors.
Petrom explores proved oil and gas reserves estimated at 0.9 billion-oil barrels, with a maximum yearly refining capacity of eight million tonnes and around 550 fuel distribution stations in Romania. The company also owns an international network of 269 gas stations, in the Republic of Moldova, Bulgaria and Serbia.
OMV, the leading energy group in the European growth belt owns 51.01 percent of Petrom shares. OMV is highly active in other 13 Central European countries in Refining and Marketing fields, as well as in 17 countries on four continents in the Exploration and Production fields. The Ministry of Economy holds 20.64 percent of Petrom shares, the Property Fund holds 20.11 percent, the European Bank for Reconstruction and Development 2.03 percent and 6.21 percent belongs to minority shareholders.