Ownership structure

Share capital of the Company amounts 155.108.283, 12 euro, divided into 146.176.876 shares with the nominal value of 1,0611 euro.


The total number of Company’s shareholders as of 31 December 2016 was 7.642. The majority owner is the state of Montenegro with 55,00 % of the Company‘s shares, while the Strategic partner of the majority shareholder - Terna Rete Nazionale S.p.a. holds 22.0889% of shares. As of 31 December 2016, natural persons owned 7,5563 % of shares, joint venture funds owned 1,6292 % of shares, custody accounts owned 12,3816 % of shares, and legal persons owned 1,3440 % of the Company‘s shares. 


CGES shares are quoted on “A” list of the stock exchange of Montenegroberza AD. ISIN of the share is: MEPRENRA1PG3.

Interest of CGES in Equity of Other Companies

As of 31 December 2016, CGES was the owner of 4140 shares with a nominal value of 51.1292 euros, which makes the ownership interest of 1, 5290% in the capital of Invest Bank Montenegro AD Podgorica.


As one of the four founders of Elektroenergetski koordinacioni centar from Belgrade (EKC), CGES owns the ownership interest amounting to 49.548,31 euros which makes 25,00% capital of EKC. EKC was founded in 1993, with the aim of coordinating operation of electric power systems of Montenegro, Serbia and Macedonia, and in time has become a referential consulting house in South East Europe, at the same time providing permanent expert support to CGES and other owners in both operational work and strategic planning.