The counter-proposal was proposed by two of the biggest single owners of Luka Koper; the Slovenian Sovereign Holding (SSH) and the Pension Fund Management (KAD) hold a combined state-owned stake of around 55%.

The manager of Slovenia's only sea port will therefore pay out around EUR 13.16m in dividend, while its distributable profit last year was EUR 14.6m.

Luka CEO Dragomir Matić outlined to the shareholders the company's business results, as well as the business strategy until 2030 and the strategic business plan until 2020, both of which were endorsed by the supervisors earlier in the day.

The Luka Koper group posted EUR 19.64m in net profit in the first six months of the year, up 36% year-on-year, with net revenue increasing by 15% to EUR 92.13m.

Its earnings before interest and taxes (EBIT) were up 31% compared to the first half of 2014, exceeding EUR 24m.

Meanwhile, earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 18% to EUR 37.73m.

Matić said the company wanted to keep improving its results, increasing transshipment and boosting its competitive edge.

Among the goals until 2020 is increasing annual net sales revenues to EUR 218m, total transshipment to 24.3 million tonnes and container units to one million.

Last year, its net sales revenues reached EUR 152.85m, total transshipment increased to 18.96 million tonnes and container units stood at 674,000.

The company is also planning investments of EUR 300m in 2016-2020 and an additional EUR 400m until 2030.

Matić, however, noted that these targets were pegged to the construction of the second rail line between Koper and the inland hub of Divača, which has been planned for some 20 years.

"Given sufficient railway capacities, these figures are relative to a development scenario whereby Luka will be able to realize its vision of becoming a leading port system for global logistical solutions for countries in central and eastern Europe," he said.

Matić added that the alternative scenario of only upgrading the existing Koper-Divača rail did not envisage such development nor investments as port capabilities would have been filled up by 2020, resulting in stagnation.

Chief supervisor Alenka Žnidaršič Kranjc welcomed the long-term strategy, which she said the company had not had because of frequent changes in management and supervisors.

She added that the second rail was not Luka Koper's challenge, but a challenge of Slovenia and national railway operator Slovenske železnice.

"If Slovenia does not get the second track, it will lose all cargo transshipment going through Slovenia".

She also said the state, which is Luka's biggest single owner, will have to decide "very quickly" which scenario it supports.

She confirmed that a new rail line towards the nearby Italian port of Trieste was also one of the possible alternatives in the strategy.

The shareholders' meeting also granted both the management and supervisors discharge of liability for 2014 and reappointed Sabina Mozetič a member of the supervisory board for another four-year term.