Supervisory Board Session

10.04.2008

At its regular session on Wednesday 9th April 2008, the Luka Koper Supervisory Board endorsed the 2007 Annual Report and was provided details of the company’s operations and performance over the first three months of this year. The results are in accordance with the plan for 2008 as well as the policy to move towards more quality cargoes, in terms of which container freight is up by 19%, and vehicles up by 47%, on the first trimester of 2007. 

Further to this, the Supervisory Board endorsed the Management Board proposal as to the profit distribution, and thereof the allocation of € 7,700,000 for dividends. The gross dividend shall thus amount to 55 cents per ordinary share, though the final decision regarding this will be made by the General Assembly.

The Supervisory Board also adopted the proposal of the Luka Koper Workers' Council and accordingly discharged the Management Board member and Workers' Director Pavle Krumenaker. His successor has not yet been appointed, and in compliance with the Worker Participation in Management Act, a commission composed of three representatives of the Supervisory Board and three representatives of the Workers' Council has been convened. The Commission is to propose, by the next Supervisory Board session, a new candidate for the Management Board, who shall accordingly become the Workers' Director. 

The Supervisory Board also agreed with the decision of the Management Board, to authorize lawyer Mr. Franci Matoz to bring action against former director of Luka Koper Mr. Bruno Korelič. Mr Korelič is believed that he impaired the company for 722,791 € with the sale of the shares of company Autocommerce in 2005.