Transgaz shareholders elected Ilinca von Derenthall to the company's board until April 2025

The shareholders of the natural gas carrier Trangaz Mediaş (TGN) appointed Ilinca von Derenthall as a member of the company's Board of Directors until April 29, 2025, according to a report of the issuer published yesterday on the Stock Exchange website of Bucharest Stock Exchange (BVB).

Ilinca von Derenthall is also part of the Proprietatea Fund's Committee of Representatives, according to the decision of FP shareholders last fall. According to the information available on the website of the RePatriot platform, Ilinca von Derenthall is Managing Director and Head Central Europe at LGT Bank Austria, the bank owned by the Princely family of Liechtenstein. He studied Economic Sciences at the J.W. University. von Goethe from Frankfurt and participated in the privatization through the initial public offering of Transelectrica and Transgaz (project under the auspices of the Ministry of Economy and Trade, USAID and Deloitte).

Also yesterday, Transgaz shareholders rejected the appointment of Andrei Benghea Mălăieş as a member of the company's board and approved the appointment of Adina Hanza as a provisional member of the Council for a period of five months. The company's board also includes Ion Sterian, Petru Ion Văduva and Nicolae Minea.

In the first three months of this year, the natural gas carrier obtained operating income of 706.5 million lei, 53% more than in the first quarter of last year, while the net profit amounted to 262.9 million lei with 113% over the January-September 2023 period.

Transgaz is the technical operator of the National Natural Gas Transport System (NTS) that ensures the fulfillment of the national strategy regarding the domestic and international transport of natural gas, their dispatching as well as research and design in conditions of efficiency, transparency, safety, non-discriminatory access and competitiveness in the field, in compliance with the requirements of European and national legislation, quality standards, performance, environment and sustainable development, according to a company report.

The company is 58.5% owned by the General Secretariat of the Government.