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Notice of Convening Annual General Meeting of Shareholders




Pursuant to Article 36, paragraph 5 of the Business Organization Law (“Official Gazette of the Republic of Montenegro” number 6/02 and “Official Gazette of Montenegro” number 17/07, 80/08, 40/10, 36/11 and 40/11), Article 24, paragraph 1 of JUGOPETROL AD Articles of Association, and Decision of the Board of Directors of the Company Ref. No. 15084, dated 30th March, 2020 convened is:




to be held on 27th May 2020 (Wednesday), at 12:00 hours, in Podgorica, the Company’s HQs at Stanka Dragojevica bb, meeting room on 4th floor provided that no provisional measures for prevention and suppression of new coronaviruses which prevent such holding are in force for the given period.


Annual General Meeting of Shareholders will be held with the following:




1.     Opening and election of working bodies:

a.     – Chairman of the General Meeting,

b.     – Voting Data Committee,

c.     – Recording Secretary,

d.     – the Minutes verification shareholder;


2.     Approval of Financial Statements of JUGOPETROL AD with independent Auditor’s Report for the year 2019


3.     Approval of Annual Business Report of JUGOPETROL AD for the year 2019


4.     Approval of Resolution on Profit Allocation for the year 2019


5.     Appointing independent Auditor for the year 2020


6.     Releasing members of the Board of Directors


7.     Electing members of the Board of Directors


Shareholders will be informed of any possible delay of the date of the Annual General Meeting.

Resolutions under all items of the Agenda, except for item 7, shall be taken by majority of votes of shareholders who attend the Annual General Meeting or who are represented by proxy provided that the General Meeting of Shareholders 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). Resolution under item 7 of the Agenda shall be passed by cumulative voting.

The materials and proposals of decisions for the Annual General Meeting of Shareholders shall be made available to shareholders of the Company not later than from 7th May 2020 at the premises of the Company HQs building at Stanka Dragojevica bb, Podgorica every business day from 08-16 hours and on the Company’s web-site: www.jugopetrol.co.me.

Shareholders may exercise their shareholders rights at the Annual General Meeting of Shareholders in person, by proxies or by voting with the voting ballots certified by a competent authority in accordance with the legislation in force.

The procedure for identification of shareholders and verification of the documents on whose basis shareholders may attend the meeting shall be done on the premises of the Company from 10:00 – 11:00 hours on the day of the meeting.

Telephone: +382 20 401 802

Chairman of the Board of Directors

Konstantinos Mademlis

You can download the materials, proposals of resolutions, ballots and proxy forma for the Annual General Meeting of Shareholders on the following page.