Laško Recapitalisation Rejected Again, New Supervisors Appointed
New supervisors - Enzo Smrekar, Peter Groznik, Goran Brankovič and Jože Bajuk - were meanwhile appointed for a four year term on the basis of a counterproposal filed by the state-owned NLB bank as the term of the present board expires on 1 September.
Borut Jamnik, a member of the board so far, withdrew his candidacy, while the original proposal by the present board also included incumbent chief supervisor Vladimir Malenković, Borut Bratina, Klemen Boštjančič, Simon Čadež, Alenka Podbevšek, as well as the appointed Groznik.
Moreover, the meeting saw shareholders get acquainted with operating results for last year, when the group made a net loss of EUR 18.5m. Most of the loss, EUR 17.4m, was covered with the help of capital reserves.
Also, discharge of liability was granted to the management and supervisory boards for 2012 and Ernst&Young from Ljubljana was named the auditor for this year.
Meanwhile, the company's CEO Dušan Zorko repeated at the shareholders meeting that he hopes the latest attempt to sell retailer Mercator, organised by a consortium of owners that also includes Laško, will be successful and completed in the first quarter of 2014.
Laško, which holds a 23.4% stake in Mercator, hopes to get around EUR 105m from the sale and thereby reduce the total debt of the group to slightly over EUR 200m.