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Notice on Convening Annual General Meeting of Jugopetrol AD


Pursuant to Article 135 paragraphs 1 and 6, Article 136 of the Companies Law (Official Gazette of Montenegro 65/20 and 146/21), Article 24 of the Articles of Association of JUGOPETROL AD and the Resolution of the Board of Directors of the Company Ref. No. 31056 dated 26 April 2023 convened is:


I. Annual General Meeting of Shareholders of JUGOPETROL AD shall be held on 7 June 2023 (Wednesday) at 14:00 hours, in Podgorica, at Hilton hotel Podgorica, at the address Svetog Petra Cetinjskog 2, conference room “Princess Milica”.

II.   Annual General Meeting shall be held with the following items:


1. Opening and election of working bodies: 
a. Chairman of the General Meeting
b. Voting Data Committee
c. Recording Secretary
d. Minutes verification shareholder

2. Adoption of Financial Statements of JUGOPETROL AD with independent Auditor’s Report for the year 2022

3. Adoption of Annual Business Report of JUGOPETROL AD for the year 2022

4. Approval of Resolution on Profit Allocation for the year 2022

5. Approval of Resolution on the Adoption of the Remuneration Policy for Members of the management bodies of JUGOPETROL AD

6. Approval of Resolution on the Amount of Remuneration to the Members of the Board of Directors of JUGOPETROL AD

7. Appointing independent Auditor for the year 2023

8. Presenting the Information to the General Meeting relating to the approval of legal transactions with related parties.

III. Resolutions under items 1 to 7 of the Agenda shall be taken by a majority of votes of shareholders who attend the Annual General Meeting or who are represented by proxy or who voted with the voting ballots provided that the meeting is attended by shareholders holding at least 1/2 of the total number of shares (2.326.986 out of total 4.653.971 shares).   
IV. Shareholders may exercise their shareholder’s rights at the Annual General Meeting in person, by proxies or by voting with the voting ballots verified by a competent authority in accordance with the legislation in force. 

The template of the proxy and voting ballot herein shall be published with this Notice at the Company’s web-site: www.jugopetrol.co.me, and available to the shareholders in hardcopy.  

V. The procedure for identification of shareholders and verification of the documents based on which shareholders may attend the meeting shall be done in the premises of venue specified in item I. herein from 12.00 to 13.30 on the day of the meeting. 

VI. The materials and proposals of decisions for the Annual General Meeting shall be made available to shareholders of the Company at least 20 days prior the day of holding the the meeting at the premises of the Company HQ, at Stanka Dragojevica bb, Podgorica every business day from 08-16 hours and on the Company’s web-site: www.jugopetrol.co.me.

VII. For additional information, shareholders may contact the Company’s Secretary: +382 20 401 802. 

Panagiotis Loukas  
President of the Board of Directors