The new executive director of Barska plovidba, Zoran Tajić, reacted to the text "They are again offering Sea Pioneer ships below the price".
"According to expectations, as well as before every session of the Shareholders' Assembly of AD 'Barska plovidba', a series of articles appear in the press and on portals by the representative of the minority shareholders, on this occasion Mr. Aleksandar Jovović, who, with a series of fabricated and incorrect allegations, is trying to achieve his one and only goal, which is the implementation of Article 127 of the Companies Act, which stipulates that in case of disagreement of the minority shareholders, i.e. votes against the decision of the Assembly, which was adopted, within 30 days, the Company must pay the dissenting shareholders shares at market prices, which in this case would amount to approx. 1,5 million euros.
As this is a person who is an experienced stockbroker and who already has experience in this kind of business and actions, these kinds of pressures are expected in order to quickly exercise rights based on disagreements and make enormous profits, without taking into account the real interests of our Company.
The new Board of Directors, elected on April 6, 4, tried from the first day to solve the problem of the annex to the ship lease agreement, which was concluded in November 2021 by the then board of directors, which at the time of the corona and the general crisis in all areas of business unanimously made that decision (including the voice of the minority shareholder R. Rudanović), but all attempts, through hired lawyers from the London bar club, showed that it was a firm contract, whose termination or possibly unilateral o treatment, caused great and irreparable damage to our society.
Without entering into the possible responsibility of the previous Board, since the Ministry of Capital Investments reported to the prosecutor's office that a harmful deal had been concluded, the new management tried in every way to terminate the contract, but to no avail, since the current contract is valid until the end of December this year and the lessee has no reason or formal legal obligation to accept any change to the contract.
The offers received from the lessee were unanimously rejected by the company's Board of Directors on two occasions, as unacceptable, of which there is no indication in the subject text, except that it is incorrectly stated that negotiations are being held with the current lessee, which is not true.
Otherwise, the movement of the price of the lease of ship space is a stock exchange category and difficult to predict and implies almost always the existence of a risk on one or the other contracting party, that due to a stock market jump or a drop in rent prices, possibly one of the parties will have less favorable contracted lease terms. E.g. in the period 2018/2019. the contracted lease price was $10.300, and the stock market price dropped to about $5000 during the lease period, and the lessee had to pay the full amount regardless of his damages.
Mentioning the CEO's earnings in a negative context is another one of a series of inaccurate information and malicious comments. The current starting salary of the executive director is contracted in the amount of 2,2 of the average salary in the company, which amounts to 1.610 euros. Otherwise, in the previous period, the director's salary was contracted for years back in the amount of three average salaries in the company for the previous year, and in some previous mandates, even in higher amounts. The proposal of the minority shareholders, which is stated in the contract on the rights and obligations of the director, is that the salary of the director, as well as all other employees, will be specified by a new collective agreement, which is in the phase of obtaining approval from the relevant ministry and the Government.
Therefore, we expect further attacks by representatives of minority shareholders with whom we do not have the same goals in the survival of the company, and certainly new attempts to achieve the conditions for using the institute of shareholder disagreement, all in the pursuit of collection, i.e. purchase of shares at market values.
Their last such attempt was at the XX regular shareholders' meeting, held on June 30, 6, when the same minority shareholders first proposed two agenda items for adoption:
Adoption of the Decision on giving consent to the Board of Directors of 'Barska plovidba' AD Bar for signing the annex to the loan agreement with The Export-Import bank of China.
Adoption of the Decision on giving consent to the Board of Directors to sign an agreement with the state of Montenegro on the regulation of debtor-creditor relations, regarding payments by the state of Montenegro to 'Barska plovidba' AD Bar and payments to The Export-Import bank of China.
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And then, miraculously, they voted against them. In anticipation of further similar statements by representatives of minority shareholders in the media and the creation of an image of great threat to shareholders, we will not pay any more attention, since we are focused on the survival of the company, where we still consider the ship lease contract to be a bigger problem than the destructive actions of representatives of minority shareholders".
The journalist's answer will be published on Sunday
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