Ljubljana - The shareholders of publisher Mladinska Knjiga, 83% of which is owned by Slovenia's bad bank, replaced three of five supervisors on Thursday. Changes were also made to the articles of association, making it harder to dismiss supervisors and to change the articles of association.

Nina Marin, Jože Možina and Peter Kavčič, appointees of the previous government, were replaced by Taja Kuhar, Duško Kos and Milena Fornazarič, while Nuška Berki and Andrej Gale remain on the board.

The TV Slovenija journalist Možina and Marin were appointed in April 2022, while Kavčič was appointed in August 2020.

Their replacements were proposed by the state-owned Bank Asset Management Company (BAMC). The bad bank also proposed changes to the articles of association, which were approved today.

Under the changes, at least three quarters of all votes cast are needed to dismiss a supervisor, while changes to articles of association will only be possible with a majority of three quarters of capital, Mladinska Knjiga said in a press release.

The shareholders also discussed the company's audited business report for last year. The publisher generated EUR 19.8 million net revenue and posted a profit of just over EUR 863,700.

Taking into consideration the EUR 62,000 transferred from last year, the company's distributable profit was at nearly EUR 925,900.

The shareholders decided to preserve the distributable profit and carried it over into next year once more. The shareholders also gave a discharge of liability to the management and the supervisory boards.