9th AGM resolutions

At the 9th Annual General Meeting on 1 July 2004 there was 39.35 percent of the company's share capital present. The following resolutions were adopted:

1. The opening of the meeting, establishment of the quorum and election of the meeting Bodies

Proposed resolution:

Mr. Dušan Jenko is appointed as President of the Annual General Meeting, Mr. Edvard Kolenc and Mr. Marko Graberski are appointed as Vote Enumerators.

The resolution was adopted as proposed.

2. The presentation of the 2003 Annual Report, the Auditors' Report and the Supervisory Board's Report on 2003 Annual Report verification and confirmation, adoption of the 2003 distributable net profit appropriation and discharge of the Management Board and the Supervisory Board from responsibility for performing their respective duties for the year 2003.

Proposed resolutions:

2.1. The Annual General Meeting adopts the information on the 2003 annual report, and the Supervisory

Board's report on the 2003 annual report verification and confirmation.

2.2. The 2003 distributable net profit in the amount of EUR 58,631,913 (SIT 14,025,562,720) is allocated:

  • to shareholders as dividends (gross dividend of EUR 5.02 (SIT 1,200) per share): EUR 16,955,293 (SIT 4,055,940,000)
  • to other reserves from profit: EUR 20,733,090 (SIT 4,959,641,327)
  • to net profit carried forward: EUR 20,733,090 (SIT 4,959,641,327)
  • to other purposes such as: Supervisory Board profit participation in the amount of
    EUR 210,440 (SIT 50,340,066)

The payout of dividends will commence 60 days from the 9th Annual General Meeting date. The shareholders records held at the Central Securities Clearing Corporation, Ljubljana with shareholders' record date of 5 July 2004 will be applied. The Supervisory Board participation in profit will also mature within the above stated period.

2.3. The Annual General Meeting gives confirmation and consent to the Management Board for the management and to the Supervisory Board for the supervision of the Company in the year 2003 and discharges the Management Board and to the Supervisory Board from responsibility for performing their respective duties for 2003.

The resolution was adopted as proposed.

3. The appointment of the Auditor

Proposed resolution:

KPMG Slovenija d.o.o., Ljubljana, is appointed as the auditor of the Company for the business year 2004.

The resolution was adopted as proposed.

At the Annual General Meeting there were no challenging actions presented.

 

Note:
The Euro amounts have been calculated by applying the Bank of Slovenia middle exchange rate on the date of the AGM.