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Ljubljana Stock Exchange Regulations and the Slovenian Companies Act stipulate that the management board of a company must convene an annual general meeting once a year. The AGM notice shall be published at least thirty (30) days before the AGM on the website of the Slovenian business register AJPES. It shall also be published in the company’s printed or electronic newsletter if available at the time of the notice, and on the company’s website. The AGM notice shall also be published in accordance with the law governing the financial instruments market. Any KRKG shareholder can attend the meeting and exercise his or her voting rights, either in person or through an appointed proxy.
Shareholders may attend the Annual General Meeting and exercise their voting rights if they give notice of their attendance and are registered as shareholders in the central securities registry on the cut-off date. Eligibility criteria for attending the meeting and exercising voting rights are specified in the AGM notice.
Shareholders’ voting power depends on their equity share. Each voting share carries one vote. Shareholders can also exercise their voting rights through a dully appointed proxy, a financial institution, or shareholders’ association. Treasury shares have no voting rights.
Natural persons resident in the Republic of Slovenia are liable to pay 25% tax on dividends. The tax is deducted when the dividends are paid out and remitted to the tax office. Natural persons receive net dividends, accounting for 75% of the gross dividend. For more information, visit the website of the Financial Administration of the Republic of Slovenia.
Krka shareholders must send information about the account change to the stock exchange member (i.e. a bank or a brokerage company) that keeps their brokerage account.
Dividends and tax deductions do not have to be declared in the personal income tax return of residents because tax deductions are final according to the applicable tax regulations.
What do I have to do to close my registry account at the Central Securities Clearing Corporation (KDD)?
Under the Slovenian Book-Entry Securities Act (ZNVP-1B), as amended in 2019, shareholders were required to transfer their securities from their registry accounts at the Central Securities Clearing Corporation to trading accounts at banks or brokerage companies that are stock exchange members or Central Securities Clearing Corporation (KDD) system members by 31 August 2019.
If securities were not transferred to a KDD system member by that date or were derelicted, the Central Securities Clearing Corporation (KDD) transferred the shares to a joint special account at Kapitalska družba (KAD). Holders of these shares have no voting rights and are not eligible to receive dividends. If shareholders fail to transfer their shares by 31 December 2021, the shares will be transferred to Kapitalska družba (KAD).
For more information, visit the Central Securities Clearing Corporation website.