At the last session, the board of directors of Luka Bar adopted amendments to the Statute of that company, which, if adopted at the shareholders' meeting on June 29, will significantly limit the powers of management and executive director Zarija Franović.
The board of directors proposed to the shareholders of the majority state-owned bar company that the board's powers should be especially increased when it comes to approving contracts or legal affairs with a value of more than 100 euros, as well as making investment decisions with a value of more than 100 euros. in accordance with the Investment and Maintenance Plan.
The board, with the consent of the shareholders, wants to decide in the future on the company's credit obligations, the approval of deposits, the taking and granting of loans, as well as the conclusion of settlements in the value of more than 50.000 euros. This means that Franović and his financial director, without the consent of the Board of Directors, will have their "hands tied" for all important transactions of more than 100.000 euros, settlements of more than 50.000 euros, as well as for all debts or approval of company loans.
According to the authorizations, the Board of Directors, without the consent of the shareholders' assembly of Luka Bar, can make decisions on business up to 20 percent of the value of the company, that is, up to the amount of about 10 million euros.
The board of Luka is chaired by professor Anđelko Lojpur, and its members are Borislav Lalević (deputy president), Branislav Branković, Sead Delalić and the representative of the minority shareholders of the bar company Aleksandar Jovović.
Yesterday, Executive Director Franović did not want to comment on why the proposed amendment to the Statute limits his disposal of money to the amount of EUR 100.000, but instead referred "Vijesti" journalists to the Board of Directors.
The Board of Directors of Luka Bar criticized in the annual report the management of the company headed by Franović for not respecting and implementing all the decisions of the Board, violating the Statute and the Rulebook on the systematization of workplaces.
In the annual report on the work of the Board, it is stated that the final performance of the Board of Directors, i.e. the success of the operation of the Port Bar, would have been at a higher level if the executive management had implemented at least part of the decisions adopted by the Board, which were of essential importance for the quality functioning of the Port ( organization, employment, activation of the Free Zone, etc.), which is supported by the negative business results in the first quarter of this year.
In the first quarter, the Port of Bar had a loss of about 78 thousand euros, and in 2017 it had a profit of 539,3 thousand euros, or almost twice less compared to 2016, when it was about 1,02 million.
After a detailed review of the material, the management established and stated in the report on their work that only 29 conclusions of the board were not implemented, which, as they stated, "says that 299 conclusions or 91,16 percent have been implemented or are being implemented."
The privatization of Luka Bar failed in the first quarter of last year, and since the second half of 2017, the employees of the bar company, from three subsidiaries, have been slowly returning to the parent company. From June 2017 to the end of March 2018, the board made 64 decisions and 304 conclusions, of which, according to the table, the executive management did not implement a total of 43.
The board will also decide on extraordinary audits
The Board of Directors, with the proposed amendments to the Statute of Luka Bar, expanded its powers to approve the report on the results of the inventory of assets and liabilities of the company, the initiative for extraordinary business audits, approve contracts for the purchase of assets of the founder or majority shareholder, which are not within the competence of the assembly, as well as to appoint commissions and working bodies for the execution of certain tasks.
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