The Government of Montenegro and the largest minority shareholder of the "Dr Simo Milošević" Institute, the owner of the Vila Oliva company, Žarko Rakčević, after subsequent negotiations, reached an agreement on the correction of the Restructuring Plan, on which the Shareholders' Assembly did not express its opinion today.
As reported by the RTHN portal, the date of the next meeting will be known after the author of the plan, the University of Montenegro, makes the agreed changes.
At the end of the session, the Executive Director of the Institute, Zoran Kovačević, read the conclusions adopted by the Government and a minority shareholder with a significant share in the capital.
"It has been agreed that the documents, or rather the materials that are the subject of this Shareholders' Meeting, should be further amended and brought into line with the agreement reached, and for this reason the shareholders will not express their views on them at this meeting, conclusion one. Conclusion two: in accordance with the agreement reached, the amended Restructuring Plan of the Igalo Institute will be considered at the next Extraordinary Shareholders' Meeting, which will be convened as soon as possible, so that in accordance with the legal procedure, all shareholders of the Igalo Institute are informed of it in a timely manner," stated Kovačević.
State Secretary Majda Adžović confirmed that the Government and Žarko Rakčević have reached an agreement, with a request to the University of Montenegro to supplement the Restructuring Plan.
"Given the content of these amendments to the Plan and their scope, the University responded that they need some time to do so, and in that sense, the joint proposal is to wait for the amendment to the Plan, in order to express our opinion on it, or rather, to adopt it," she said.
Adžović said that Vile Oliva will remain at the Igalo Institute and will be a partner of the Government of Montenegro in the further development of this health institution.
"The Igalo Institute will not go bankrupt, it will not be closed, but will continue to operate with, we hope, the successful implementation of the Restructuring Plan in the coming period, in order to raise the Institute to a four-star level, which will provide rehabilitation to the citizens of Montenegro," Adžović emphasized.
The representative of a minority shareholder with a significant stake in the capital, Petar Rakčević, said that after the session on January 9, they had intensive negotiations with representatives of the Government regarding the objections raised to the original Restructuring Plan.
"The government shares the view on the several controversial points that we presented at the time, namely the sale of the main building of the first phase, which simply will not be subject to sale or divestment, that we actively participate in the conversion from the right of use to the right of ownership of the land and that something related exclusively to health or commercial tourism can be envisaged on that land, that the problematization we had regarding the amount of investment in the Institute is the above, and that tomorrow, through the preliminary estimate of the works and the tender procedure, it will be determined how much it really costs," he said, RTHN reports.
The children's department, as it was heard, will be sold, but only for the needs of building a school in Igalo.
Rakčević informed that the original Restructuring Plan envisaged that shareholders with a significant share in the capital, as well as minority shareholders, would sell their shares, but this did not suit the Vila Oliva company, which is ready to invest, but also cover the Institute's losses in proportion to its share.
"In this first step, we are ready to bear up to seven million euros of the Institute's existing losses, which would only increase Vila Oliva's ownership by 1,5 percent. The message I want to send on behalf of Vila Oliva is that we will do everything to prevent the Institute from going bankrupt, that we will actively participate in pushing back losses and tomorrow, if necessary, and it will be, for investments in the second phase," said Rakčević.
The continuation of the extraordinary session of the Institute's Shareholders' Assembly, at which the shareholders will definitively declare their opinion on the Restructuring Plan, will be scheduled in the next 30 days.
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