HIDROELEKTRA NISKOGRADNJA d.d.
 

HIDROELEKTRA is a civil engineering company established in 1946, with seat in Zagreb and is one of the most respectable civil engineering companies in Croatia.

CITY STADIUM AND SWIMMING POOLS, SPLIT, CROATIA 1978-1979 City stadium and swimming pools, Split, Croatia


address :
Zeleni trg 6a
10000 Zagreb,
CROATIA

phone :
+385 1 61 99 555

fax :
+385 1 61 99 550

e-mail :

hidroelektra-niskogradnja@zg.t-com.hr


BUSINESS NEWS:


NOTICE ON THE GENERAL SHAREHOLDERS' ASSEMBLY OF HIDROELEKTRA NISKOGRADNJA d.d.

The regular General Shareholders' Assembly of Hidroelektra Niskogradnja d.d. was held on June 30, 2009 and the following decisions were adopted:

1.The Report of the Board of Directors on Company status and Finacial statements for the year 2008, which ended with profit in the amount of 8.777.041,00 HRK, were adopted.

2.Report of the Supervisory Board on supervision of business operation in the year 2008 was adopted.

3.Auditor's report for the year 2008 was adopted.

4.The Company profit after taxes declared in the Annual financial statements for the business year 2008 is 8.777.041,00 HRK, and is to be distributed to the Company's retained profit.

5.Decision to give discharge to the Board of Directors (General Manager) for the year 2008 was adopted.

6.Decision to give discharge to the members of the Supervisory Board for the year 2008 was adopted.

7.Decision to appoint the company BDO Revizija Zagreb d.o.o. for auditing, consulting and accounting services, Zagreb, J.F. Kennedyja 6 b as the Auditor for the year 2009 was adopted.

8.Decision to grant monthly remuneration of the members of the Supervisory Board was adopted, as follows: 4.500,00 HRK net to the chairman of the Board and 3.500,00 HRK net to the members of the Board.


REPORT OF THE SUPERVISORY BOARD ON THE SUPERVISION OF BUSINESS OPERATION AND CONVENING OF THE GENERAL SHAREHLDERS' ASSEMBLY

 

Zagreb, May 25, 2009

 

REPORT

 

Of the Supervisory Board of HIDROELEKTRA NISKOGRADNJA d.d. on the supervision of business operation in year 2008.

 

1. Prof. Anđelko Runjić, Sc.D, chairman
2. Petar Marić, deputy chairman
3. Zvonko Pilipović, member of the Board
4. Zlatko Šandrk, member of the Board
5. Jasenka Vukšić, member of the Board (member nominated by the Works Council, until December 8, 2008).
    Ružica Haramustek, member of the Board (member nominated by the Works Council,
from December 8, 2008).

The Supervisory Board held 3 (three) sessions in the course of the year 2008, where the Board reviewed the Company's business operation and the performance of the Board of Directors, and issued several Decisions regarding the Company's business operation and
the performance of the Board of Directors.

By inspecting the business operation of the Company and the business documents
(Financial statements and the Auditor's report) the Supervisory Board confirmed that
in the year 2008 the Company operated in accordance with the law, the Company
documents and the decisions of the GENERAL SHAREHOLDERS'ASSEMBLY.

The Annual financial statements were prepared in accordance with the actual status of business operation of the Company.

The Supervisory Board adopted the proposition of the Board of Directors to distribute the entire amount of declared profit (profit after tax) for the year 2008 (8.777.041 HRK) to retained profit of the Company.

The Supervisory Board considers the performance of the Board of Directors to be
succesfull and proposes that the General Shareholders' Assembly give discharge to the Board of Directors for the year 2008 (approve performance of the General Manager Rade Pilipović, B.Sc.Civ.Eng).

The Supervisory Board also proposes that the General Shareholders' Assembly give discharge to all members of the Company Supervisory Board for the year 2008. 


Pursuant to Articles 277 and 280 of the Companies Act, on May 22, 2009 the Supervisory Board and the Board of Directors issued the following

DECISION on convening the REGULAR GENERAL SHAREHOLDERS' ASSEMBLY
of HIDROELEKTRA NISKOGRADNJA d.d. Zagreb

 

The General Shareholders' Assembly of HIDROELEKTRA NISKOGRADNJA, joint stock company for civil engineering, Zagreb, Zeleni trg 6a, shall be held on June 30, 2009 (Tuesday) at the Panorama Hotel, Zagreb, Trg športova 9 at 2 p.m.

Agenda and decision proposals are as follows:

1. Opening of the Assembly and cheking of the attendance list - quorum.

2. Report of the Board of Directors on Company status and Finacial statements for the
year 2008.
Decision proposal: Adoption of the Report of the Board of Directors on Company status
and Finacial statements for the year 2008, which ended with profit in the amount of 8.777.041,00 HRK.

3. Report of the Supervisory Board on supervision of business operation in the year 2008.
Decision proposal: Adoption of the Report of the Supervisory Board on supervision of business operation in the year 2008.

4. Auditor's report for the year 2008.
Decision proposal: Adoption of the Auditor's report for the year 2008.

5. Decision on the distribution of Company profit for the business year 2008.
Decision proposal: Company profit after taxes declared in the Annual financial
statements for the business year 2008 is 8.777.041,00 HRK, to be distributed to the Company's retained profit.

6. Discharge to the Board of Directors (General Manager)
Decision proposal: Giving of discharge to the Board of Directors (General Manager)
for the year 2008.

7. Discharge to the members of the Supervisory Board for the year 2008
Decision proposal: Giving of discharge to the members of the Supervisory Board for the year 2008.

8. Appointment of the Auditor for year 2009
Decision proposal: Appointment of the company BDO Revizija Zagreb d.o.o. for auditing, consulting and accounting services, Zagreb, J.F. Kennedyja 6 b as the Auditor for the year 2009.

9. Remuneration of the members of the Supervisory Board
Decision proposal: Granting of monthly remuneration of the members of the Supervisory Board as follows: 4.500,00 HRK net to the chairman of the Board, and  3.500,00 HRK net
to the members of the Board.

 

Shareholders who cumulatively meet the following requirements can attend the Assembly:

a) Shareholders listed in the Share register at least 7 (seven) days prior to the date of the General Shareholders' Assembly.

b) Shareholders who confirm their attendance at the General Shareholders' Assembly in writing at least 7 (seven) days prior to the date of the Assembly.

 

Written confirmation of attendance at the General Shareholders' Assembly shall be
submitted at the Company seat in Zagreb, Zeleni trg 6 a, office no. 10, where the shareholders may also inspect the materials prepared for the Assembly.

One share entitles a shareholder to one vote.

Shareholder may assign the right to attend and vote at the General Shareholders' Assembly to an authorized representative. Power of attorney must be executed in writing.

This Decision shall be published in the Official Gazette of the Republic of Croatia within the statutory term.


ANNOUNCEMENT OF SUPERVISORY BOARD SESSION

In accordance with the Art. 5.3.1.3.3. of the Rules of the Zagreb Stock Exchange, we announce to the Stock Exchange and the general public that on May 22, 2009 at 13 p.m. a Supervisory Board session will be held at the seat of Hidroelektra niskogradnja d.d. where the proposal to the General Assembly to accept the annual financial statements will be discussed, as well as the proposal for distribution of profit from year 2008.


COMMENCEMENT OF WORKS ON THE BRIDGE OVER THE RIVER DRAVA

On May 14, 2009 the joint venture composed of Croatian civil engineering companies

VIADUKT d.d. Zagreb - leading partner;
HIDROELEKTRA NISKOGRADNJA d.d. Zagreb - partner;
KONSTRUKTOR - INŽENJERING d.d. Split - partner;
OSIJEK - KOTEKS d.d. Osijek  - partner;
SKLADGRADNJA - GRUP d.o.o. Imotski - partner,

signed with the company CROATIAN MOTORWAYS Ltd. contract for the construction of the bridge over the river Drava on the section Beli Manastir - Osijek, on the motorway Beli Manastir - Osijek - Svilaj - Ploče. Total value of contracted works is 949 million kunas
(without VAT). The completion date is 30 months from the date of commencement of works.


COMMENCEMENT OF WORKS ON SLATINA BYPASS

Construction works on the section of State road D2, Slatina bypass, in the length of 10,2 km commenced on May 12, 2009. Works will be executed by HIDROELEKTRA NISKOGRADNJA d.d., Zagreb for the Employer CROATIAN ROADS Ltd, Zagreb. Total value of contracted works is 87 million kunas (without VAT). The completion date is 24 months from the date of commencement of works.


Information on new works contracted with the company Croatian Motorways Ltd.


From April 29 to May 11, 2009 the joint venture composed of Croatian civil engineering companies


HIDROELEKTRA NISKOGRADNJA d.d. Zagreb,
KONSTRUKTOR - INŽENJERING d.d. Split,
OSIJEK - KOTEKS d.d. Osijek,


signed with the company CROATIAN MOTORWAYS Ltd. the following Works ontracts for:

  1. Construction of route, parallel roads, drainage, intersections and roadside service facilities on the "Podravski ipsilon", motorway A12, section Gradec - Sokolovac, subsection Gradec - Kloštar Vojakovački. Total value of contracted works is 599 million kunas (without VAT). The completion date is 22 months from the date of commencement of works;

  2. Construction of route, parallel roads, drainage, intersections and roadside service facilities on the "Podravski ipsilon", motorway A13, section Vrbovec - Bjelovar. Total value of contracted works is 447 million kunas (without VAT). The completion date is 22 months from the date of commencement of works;

  3. Construction of the Motorway Zagreb - Sisak, section Velika Gorica South - Lekenik, subsection Buševec - Lekenik, from km 9+000 to km 20+200. Total value of contracted works
    is 529 million kunas (without VAT). The completion date is 12 months from the date of commencement of works;

  4. Construction of the Motorway Zagreb - Split - Dubrovnik, section Dubrovnik - Doli.  Total value
    of contracted works is 2 billion and 89 million kunas (without VAT). The completion date is 30 months from the date of commencement of works.
 
 
 
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