Source: http://www.bvb.ro/FinancialInstruments/SelectedData/NewsItem/TGN-Dividend-proposal-2017/4F01A
Timestamp: 2019-04-20 09:02:40+00:00

Document:
The approval of a gross dividend per share amounting to RON 25.22, established according to Government Ordinance 64 of 30 August 2001 on the distribution of profits in national companies and trading companies owned by the state or where the state is a majority shareholder and the autonomous administrations with the applying of 50,019578% to profit as dividends. The distribution share foreseen in the income and expense budget of the National Gas Transmission company Transgaz SA per 2017 approved by GOMS Decision no 1/27.04.2017 is of 50%.
b) If the provisions of letter a) cannot be implemented because of well justified reasons, the Government may approve by Memorandum the mandating of the state representatives in the General Assembly of the Shareholders/Board of Administration, as the case may be, to decide on the allocation of another quota of the net profit, but subject to the provisions of the GO no. 64/2001.
Given that the implementation of the provisions contained in point a of the Memorandum may result in Transgaz' incapacity to finance strategic development projects within the limits of leverage imposed by the grant agreements, the necessary formalities will be undertaken to obtain the mandate for approval in the GMS of the share distribution of profit in the form of dividends according to point b of the Memorandum.
2) Dividend payment to the shareholders starting from 16 July 2018.
According to Art.111 (2) (a) of Law 31/1990 on the trading companies, as further amended and supplemented, and to Art.15 (3) (g) of the Articles of Incorporation of Transgaz, the General Meeting of the Shareholders of the Company has the competence of establishing the dividend.
C Profit for the establishment own financing sources 285.124.697,32 lei.
According to Art. 67 (2) of Law 31/1990 on the trading companies, as further amended and supplemented, dividends are distributed to the shareholders proportionally with their participation in the paid up share capital.
The paid up share capital of Transgaz is of RON 117,738,440 divided into 11,773,844 ordinary, nominative, indivisible shares having a nominal value of RON 10/share.
Thus, the value of the gross dividend is of RON 25,22 /share.
According to Art. 86 (51) of Law 24/2017 on the issuers of financial instruments and market operations the payment of dividends due to shareholders is to be made through the central depository and through the participants to their system.
C According to Art. 1 (3) of GEO 64/2001, as updated, `by derogation from the provisions of Art. 67 (2) of Law 31 / 1990 ... the national companies where the state is the sole, majority or controlling shareholder shall transfer dividends to shareholders within 60 days from the deadline provided by the law for the submission of the annual financial statements`. According to OMPF 470/11.01.2018, Annex 1, Chapter III, the deadline for the submission of the annual financial statements and of the annual accounting reports for year 2017 for the national companies is of 150 days from the end of the financial year.

References: Art.111
 Art.15
 Art. 67
 Art. 86
 Art. 1
 Art. 67