DUSHANBE, March 5, 2011, Asia-Plus — A general meeting of shareholders of joint-stock company (OJSC) NBO Roghun scheduled for late February has been postponed for uncertain term.
The source at OJSC NBO Roghun says that under the country’s law on joint-stock companies, a general meeting of shareholders should be held not before the first two months of year and or by the end of the sixth month of the same year at the outside. “The company’s supervisory board and a special commission are currently working on developing the mechanism of holding the upcoming meeting,” he said, noting that the general meeting will be held in Dushanbe.
“A total number of shareholders is more than 2 million people, and therefore, we are currently thinking over the process of holding the meeting,” noted he. “Under the law, each of shareholders has voting authority and may participate at general meetings of shareholders.”
We will recall that to raise funds to complete construction of the Roghun hydroelectric power plant (HPP) the government started to sell shares in Roghun to people on January 6, 2010. Tajikistan has reportedly issued 6 billion somoni (US$1.37 billion) worth of Roghun shares. They issued shares of different face values (100, 500 and 1,000 somoni) and the Certificates of Shares. The face value of one certificate of shares is 5,000 somoni.
To-date, the sale of Roghun shares has earned the government 830 million somoni (equivalent to 188.5 million U.S. dollars).
Finance Minister Safarali Najmiddinov told reporters on January 24 that 22,000 people are holders of the Certificate of Shares and nearly 2 million people are holders of shares of the face values of 100, 500 and 1,000 somoni.
According to the Ministry of Finance (MoF), the government assumes the 75% ownership interest (4.5 billion somoni).
