The Brkovićs are no longer at the head of "Vektra Boka"

The shareholders' assembly replaced the old and appointed a new Board of Directors, whose president will be elected later

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The proposal to change the name of the company was not accepted: Dragan Brković, Photo: BORIS PEJOVIC
The proposal to change the name of the company was not accepted: Dragan Brković, Photo: BORIS PEJOVIC
Disclaimer: The translations are mostly done through AI translator and might not be 100% accurate.

The Extraordinary Assembly of shareholders of the company "Vektra Boka" appointed a new Board of Directors, in which they are now Radovan Samardzic, Vladimir Covic i Danilo Matijašević, while the president of that body will be elected later. At the same time, they were unanimously dismissed from the Board of Directors Dragan and Bojan Brković, as well as a member of the management Milić Popović.

The decision was made yesterday at a session in Podgorica, which was attended by the bankruptcy trustee of "Vektra Boke". Radojica Grba, secretary of that company Ranko Grbavac and lawyer "Ellena group" Nemanja Radović.

"Vektra Boka" is part of the bankrupt empire of Dragan Brković. The company "Ellena group" from Herceg Novi became the owner of 33 percent of the shares in "Vektra Boka" at the beginning of April, when it bought 8,7 million shares at a price of four cents, that is, it paid 350 thousand euros for a package of shares. Those shares were previously seized from the company "Vektra Investments" due to debt, and the sale on the stock exchange was organized through an auction.

Matijašević, who is the owner of "Ellena Group", announced that now that he is on the Board of Directors of "Vektra Boka", he will see that claims against the Tax Administration are settled, in order to prevent the introduction of bankruptcy in this company. He emphasized that they are waiting for instructions from the Commercial Court, and that a new bankruptcy hearing is scheduled for July 16. The tax administration has been trying for some time to introduce bankruptcy in Brković's "Vektra Boka" due to a debt of millions, and since February 2017, the company has been under the reorganization measures of this court.

At the Shareholders' Assembly, a request to change the name of this company to "Boka Resorts" was considered, but the proposal was not accepted.

"We asked for a name change because no one wants to negotiate with "Vektra Boka", and that issue will be raised again at the regular Shareholders' Assembly scheduled for June 30," Matijašević said.

Trading in the shares of the company "Vektra Boka" on the Montenegro Stock Exchange was blocked until June 30 this year by a decision from the end of May, at the request of the Sector for Financial Intelligence of the Police Directorate, and as part of the investigation conducted by the Special State Prosecutor's Office against Brković, his sons Boris and Bojan , as well as Milić Popović. According to "Vijesti" information, the ban on the trading of shares was requested to prevent possible malpractice with their value as well as to protect that property, which may be confiscated from the Brković family in the continuation of the proceedings.

In December 2007, the hotel and tourism company (HTP) "Boku" privatized Brković's "Vektra Montenegro", which as the first-ranked bidder received a state package of 59,4 percent of the shares for 22 million euros with the obligation to invest 50 million in the next three years euros. Before that, Brković with his other company "Vektra investments" bought a share of 33 percent of the shares from Hungarian companies, which, after the purchase of the state package, gives him a total ownership of 92 percent. Brković changed the name of the company to "Vektra Boka".

After that, there were years of big problems for the company, a large part of the property was pledged for loans, while there were no planned investments. The owner justified himself by disputes with the municipality and the state due to urban plans, and a large part of the property has since been sold off or confiscated.

Assembly illegitimate for former workers

The Association of former employees of this company said that the ownership structure could not be changed at the Shareholders' Meeting, that the meeting was scheduled despite the prohibitions of the relevant institutions, that it could not produce legal consequences and that the actions were blocked.

President of this Association Đorđe Rajak He told "Vijesta" that they suspect that all those who are trying to appropriate and sell the property of the former HTP "Boka" are violating the laws and acts of the Government, several ministries and prosecutor's offices.

"We are going through this pain solely because of the non-respect of our rights from the employment relationship in seeking justice for 200 families, which are threatened by the illegal actions of the employer and his satellites," said Rajak.

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