Pursuant to Article 135 and 136 and 161 of the Companies Act (Official Gazette of Montenegro no. 65/20) and Article 45 paragraph 1 item 2 of the By-Laws of Crnogorski elektroprenosni sistem AD, the Board of Directors hereby convenes
XIV ANNUAL SHAREHOLDER MEETING
OF CRNOGORSKI ELEKTROPRENOSNI SISTEM AD
The Shareholder Meeting will be held in Podgorica on 8 June 2023, at 10:00 a.m., at hotel Hilton Podgorica, Bulevar Svetog Petra Cetinjskog no. 2.
The following Agenda has been determined for XIII Annual Shareholder Meeting:
AGENDA
1. Decision on the adoption of Financial Statements of Crnogorski elektroprenosni sistem AD for the year 2021 with audit report;
2. Decision on distribution of profit gained by Crnogorski elektroprenosni sistem AD for the year 2021;
3. Decision on the adoption of Operating Statement of Crnogorski elektroprenosni sistem AD for the year 2021;
4. Decision on the selection of an auditor of Crnogorski elektroprenosni sistem AD for the year 2022;
5. Decision on the adoption of the Remuneration Policy of Crnogorski elektroprenosni sistem AD;
6. Decision on:
6.1. Removal of members of the CGES AD Board of Directors;
6.2. Appointment of members of the CGES AD Board of Directors
Decisions referred to in agenda items 1, 3, 4, 5 and 6.1 shall be adopted by a majority vote of the present or represented shareholders of the quorum consisting of at least ½ (50%) + 1 of the total Company’s voting shares.
The decision referred to in item 2 of the agenda is made by a majority of 77% of the total number of the Company’s voting shares.
Decision referred to in agenda item 6.2 shall be adopted by the so-called cumulative voting principle. Candidates who win the largest number of votes of the quorum consisting of at least ½ (50%) + 1 of the total Company’s voting shares will be elected members of the Board of Directors.
The material for XIV Annual Shareholder Meeting will be made available to the shareholders at CGES’ premises in Podgorica at the address Bulevar Svetog Petra Cetinjskog no. 18 (office no. 301).
Insight into the material for XIV Annual Shareholder Meeting will be made available every working day between 9:00 h and 15:00 h starting from 19th May 2022.
Shareholders who are not able to attend the meeting can vote in advance through ballots delivered to the following address: Crnogorski elektroprenosni sistem AD - Bulevar Svetog Petra Cetinjskog no. 18 – Podgorica (for the Shareholder Meeting) prior to the beginning of the Shareholder Meeting. The ballot must be certified in accordance with the law.
Shareholders with registered office/residence outside the territory of Montenegro may electronically participate in the work of the Shareholder Meeting and vote on agenda items before or during the meeting.
Shareholders who intend to participate electronically in the work of the Shareholder Meeting shall notify the Company via their official e-mail address to the following e-mail address: This email address is being protected from spambots. You need JavaScript enabled to view it. not later than 1 June 2023. Attached to the e-mail, it is necessary to submit a copy of the power of attorney and personal documents in order to identify the shareholder/proxy.
The original power of attorney shall be submitted not later than 5 June 2023 to the following address: Crnogorski elektroprenosni sistem AD - Bulevar Svetog Petra Cetinjskog no. 18 – Podgorica (for the Shareholder Meeting).
Shareholders will be identified at the meeting after presenting identity documents, and proxies will be identified after presenting power of attorney and identity documents. The power of attorney must be certified in accordance with law.
Notice of convening XIV Annual Shareholder Meeting, forms of power of attorney and ballots, as well as instructions on how to vote electronically, will be available at the Company’s website: www.cges.me.
CHAIRMAN OF THE BOARD
Aleksandar Mijušković, BScEE