Business News

Laško Recapitalisation Rejected Again, New Supervisors Appointed

Laško, 20 June (STA) - Shareholders of beverage company Pivovarna Laško, most of them creditor banks, rejected on Thursday a management proposal for a EUR 36.5m capital increase in what was already the fourth failed attempt at agreeing on a recapitalisation to shore up the debt-ridden group's finances.

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.

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