The management and the supervisory board have proposed for the loss to be covered from other reserves in the amount of just over EUR 390,000 and capital reserves in the amount of a good EUR 15m.
If the meeting endorses the planned capital injection of EUR 36.5m, the company's share capital will increase to EUR 73m. For the proposal to be carried, it needs to be backed by 75% of the shareholders. However, unofficial information has it that the biggest shareholder, the state-owned bank NLB (23.5%), is not in favour of the recapitalisation plan. The meeting will also be formally notified on the cancellation on the contract that would transform Laško into a contracting concern with brewer Pivovarna Union and mineral water company Radenska as controlled companies. The contract was closed by the three companies last year but had to be scrapped in the face of opposition by NLB, Laško's biggest creditor and shareholder. The shareholders' meeting will moreover vote on whether to grant the management and supervisors discharge of liability for the past year.
SOURCE: The Slovenia Times
