Agreement on organization is the fundamental and supreme act of the Company which regulates: the business name and address of the Company, the Company's business activity, the amount of initial capital, types and classes of issued shares, the shareholders, internal organization and corporate bodies, environmental protection, etc.
Besides the Agreement on organization, Company also has the Statute by which there are arranged more precisely and concretely the matters regulated by the Agreement on organization.
Company’s bodies
Shareholders Assembly
Shareholders Assembly is the supreme management body of the Company.
Assembly consists of all shareholders – owners of the shares or authorized representatives of shareholders. One share provides one vote in shareholder meetings.
The Shareholders can acquire the right to manage the company through participation in work and decision-making at the General Assembly and they exercise that right through their authorized representatives.
Shareholders Assembly, as the highest governing body of the Company, decides on issues related to strategic decisions and business decisions of the Company that may significantly affect the position of the Company.
In accordance with the Statute, Shareholders Assembly is responsible, inter alia, to make decisions relating to:
- amendments of the Articles of Association as well as any securrities issue;
- increase and decrease of initial capital;
- status amedments and amedments of legal form of the Company;
- acquisition and management of big value property of the Company;
- distribution of profit and covering losses of the Company;
- adoption of financial statements, as well as auditor's reports;
- adoption of report of Company's Supervisory Board;
- payments to executive managers and members of Supervisory Board, i.e. rules for their determining, including also payment in shares and other securities of the Company;
- appointment and release of members of Supervisory Board;
- selection of auditor and payment for his work;
- other matters in accordance with the Law and Statute.
Supervisory Board
Supervisory Board of the Company establishes business strategy and operating targets of the Company and supervises their realization. In accordance with that supervises work of executive managers and operating of the Company, establishes financial statements and sends them to the assembly for adoption, convenes meetings of shareholders Assembly and establishes agenda proposal and proposals of shareholders Assembly decisions, selects and releases Director General and executive directors and makes also other decisions in accordance with the Law and Statute.
Supervisory Board of the Company has 5 members. It is responsible for its work to shareholders Assembly which has chosen it.
Supervisory Board has three commissions which assist it in operating,and especially for preparing decisions which it makes.These Commissions are: Commission for appointments, Commission for payment and Auditing commission.
Executive Board
Executive Board of the Company is a collective body of the Company, responsible for carrying out the decisions of Assembly and Supervisory Board and management of current business of the Company.
The Executive Board comprises five members: Director General, Executive Director of Finance, Business Planning and Control Function, Executive Director of Supply Chain Function, Executive Director of Production and Technical Support Function, and Executive Director of Corporate and Legal Affairs Function. The Executive Board is appointed by and reports to the Supervisory Board.
Director General
Director General is the representative of the Company. Director General convenes meetings of the Executive Board and chairs them, coordinates and organizes the work of the Executive Directors, decides on the labor rights of the employees in accordance with the regulations and the collective agreement, and performs other tasks stipulated by law, the Articles of Association and general acts of the Company.
Company Secretary
Secretary of the Company is responsible for preparing meetings and taking minutes from the meetings of managing bodies of the Company, keeping documents established by Law and Statute, communication of the Company with shareholders and enabling access to acts and documents in accordance with the Law.
