Press release

The 16th Extraordinary Shareholders’ Meeting of EPCG A.D. Nikšić has been held today in Nikšić. According to the Agenda set forth in advance for the Shareholders’ Meeting chaired by Ranko Vojinović, the executive officer of the HR Directorate, the decisions on removal from office of the existing members and appointment of new members of EPCG’s Board of Directors were made, as well as the Decision on expression of interest in entering the ownership structure of Pljevlja Coal Mine.

The Shareholders’ Meeting made the decision on expression of interest in entering the ownership structure of Pljevlja Coal Mine. Namely, in order to accomplish synergy and optimize operation of entities which constitute the thermal power sector in Montenegro, EPCG has expressed interest in entering the ownership structure of Pljevlja Coal Mine through purchase of shares, thus taking over Pljevlja Coal Mine as a shareholding company. Depending on their powers, the Board of Directors and the Company’s management have been tasked with continuing activities related to analysing the price offered for shares and preparation of the materials for the final statement to be made by the Company’s competent bodies.

According to the Company Law, based on the Agenda and the Company’s Statute, the Shareholders’ Meeting removed from office the previous members and selected new members of the Company’s Board of Directors.

Đoko Krivokapić, Samir Hodžić, Ljubo Knežević, Ranko Milović, PhD, Oreste Bramanti, Massimo Tiberga and Franccesco Becceli have been selected as members of the Board of Directors. Đoko Krivokapić has been selected as the chairman of the Board of Directors at the constitutional session of the Board of Directors that was held after the Shareholders’ Meeting.