ANNUAL REPORT OF “TRANSGAZ” MANAGEMENT INDIVIDUAL ...

SNTGN “TRANSGAZ” SA Medias Annual Management Report for 2007
According to the relevant regulations, as regards operations for acquisition or selling
of securities issued by a company admitted for trading on the regulated market which
cause the voting rights held by a person to reach, go beyond or fall behind 5%, 10%,
20%, 33%, 50%, 75%, or 90% of the total voting rights, such person shall
simultaneously notify, within maximum 3 working days from the date of acquiring
knowledge of such operation, the company, the National Securities Commission and
the regulated market where the relevant securities are traded.
Transgaz did not get any notice to this effect in 2007.
Growth of the prices for TGNRO1 allocation rights
350.000
340.000
330.000
320.000
310.000
300.000
290.000
280.000
270.000
260.000
250.000
Price
19.12.2007 20.12.2007 21.12.2007 Trading day
Opening price Mimum price Maximum price Closing price
In order to facilitate dialogue with shareholders, potential investors, financial analysts
and investment consultants, Transgaz used electronic communication means, i.e. the e-
mail.
The company’s web page is under reconstruction so that all shareholders should
benefit from equal, politically correct and transparent treatment and access to data on
the company’s activity.
3.2. Description of Transgaz’ policy on dividends
The appropriation of the company’s net accounting profit is done according to GEO
no. 64/2001 on the profit appropriation within national companies with capital
integrally or partially owned by the state, in the following directions:
‣ Legal reserves;
‣ Covering of accounting loss on the previous years;
‣ Other appropriations under law;
‣ Up to 10% for the employees’ share in profits, but no more than an average
salary at the company’s level, multiplied by the average number of personnel
recorded for 2007;
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