NKBM to Hold AGM to Discuss 2013 Loss, Policy Changes
The bank that was fully nationalised with the December bailout is expected to cover the EUR 943.5m loss from 2013 with capital and other reserves, according to the AGM plan published on the website of the Ljubljana Stock Exchange.
NKBM received a EUR 870m capital injection from the state last December in a move which squeezed out the other owners, including thousands of small shareholders, who subsequently filed a request for a constitutional review.
The state as the sole owner will also decide on whether to grant liability discharge to the management and supervisory boards for last year. Also on the agenda are changes to the articles of association, which have not been disclosed.
As the manager of state business interests, the Slovenia Sovereign Holding (SSH) is expected to ask the NKBM management on behalf of the state for additional information about the sale of retailer Mercator to the Croatian group Agrokor.
The bank holds a 5.24% stake in the country's biggest grocer, which is being sold as part of a consortium selling a combined 53% stake (including the NLB bank and brewer Pivovarna Laško). The deadline for the takeover to be completed is 30 June.