Annual report - HSE
Annual report - HSE
Annual report - HSE
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
Other important matters and issues discussed by Supervisory Board in 2012 are presented<br />
below:<br />
• It was acquainted with the company’s <strong>report</strong> on the possibility of purchasing the PV<br />
shares;<br />
• It approved the Rules on Internal Audit Activities;<br />
• It was acquainted with the AUKN RS recommendations;<br />
• It adopted the Operational guidelines for payment and reimbursement to external<br />
members of the SB committees;<br />
• It was acquainted with the activities regarding the discussion of the Proposal for Act<br />
Amending the Energy Act;<br />
• It discussed the issues of the company TET in view of closing down RTH (Trbovlje-<br />
Hrastnik coalmine) and maintenance of energy location, and was acquainted with<br />
relevant documentation ‘Document on identification of the investment project Gradual<br />
reconstruction of Unit 4 at Termoelektrarna Trbovlje, April 2012’.<br />
• It was acquainted with development possibilities of the company TET, with possibilities<br />
and procedures for entry of an international partner into the TET ownership; in the<br />
event of non-realisation of development strategy, based on local energy source, the<br />
SB recommended that the <strong>HSE</strong> management inform its owner about the possibility of<br />
foreign partner and acquire the owner’s written opinion on the matter;<br />
• It was acquainted with submitted documentation on TET and proposed that the <strong>HSE</strong><br />
management inform the company’s management on current potentially strategic<br />
partners in the investment in TET;<br />
• It was acquainted with the information about unaudited financial statements of the<br />
company <strong>HSE</strong> for 2011;<br />
• It was acquainted with the public letter of the Ministry of Infrastructure and Spatial<br />
Planning regarding annual leave payment;<br />
• It agreed on adoption of all decisions that <strong>HSE</strong> is required to adopt for closing the<br />
subsidiary <strong>HSE</strong> Hungary, as its founder and sole owner;<br />
• It gave it previous approval for closing <strong>HSE</strong> Belgrade Representative Office;<br />
• It was acquainted with the Managing Directors’ recommendation to the directors of<br />
subsidiaries regarding payment of annual leave allowances for 2012;<br />
• It was acquainted with interim <strong>report</strong> on due diligence in the company Amitea II Mostar<br />
in connection with construction of sHPP on the River Kraljuščica;<br />
• It was acquainted with the Information on the <strong>HSE</strong> operations in period I-III 2012 in view<br />
of stricter liquidity conditions and the management’s proposed measures;<br />
• It was acquainted with the Information on situation of production capacities of the <strong>HSE</strong><br />
Group, with emphasis on PSP Avče, HPP Zlatoličje, TEŠ Unit 3 and PV;<br />
• It approved the Internal Audit’s <strong>Annual</strong> plan for 2012;<br />
• It was acquainted with summery of the <strong>report</strong> on examination of the procedure of call for<br />
tenders for provider of the ERP business and information system in the company <strong>HSE</strong>;<br />
• It appointed a three-member HR-nomination Committee of the Supervisory Board;<br />
• It was acquainted with the management’s answer to its written questions;<br />
• It was acquainted with the document ‘Restrictive plan for cost reduction for 2012 in <strong>HSE</strong><br />
d.o.o.’ and recommended that the management proceed with its activities for streamlining<br />
its operations;<br />
• It was acquainted with potential risks in the submitted document ‘Liquidity plan for<br />
deteriorated circumstances for the period May-December 2012’ and in accordance with<br />
reasonable use of provisions of Article 31 of ZFPPIPP requested that the management<br />
prepare adequate measures for prevention and elimination of causes of illiquidity by 4<br />
June 2012 (the document was submitted to the SB on time);<br />
• It was acquainted with the letter of the Managing Director in connection with the AUKN<br />
RS decision and recommendation regarding the auditor and requested that the Audit<br />
Committee discuss the issue at its next meeting;<br />
• It discussed the <strong>Annual</strong> Report of the company <strong>HSE</strong> and the <strong>HSE</strong> Group for 2011 with<br />
Auditor’s <strong>report</strong>s; the SB had no objections to the auditor’s <strong>report</strong>s; after the final<br />
verification, the SB had no objections to the <strong>Annual</strong> <strong>report</strong>, therefore, it confirmed the<br />
<strong>Annual</strong> <strong>report</strong>; the SB prepared a written <strong>report</strong> for the founder on the <strong>Annual</strong> <strong>report</strong><br />
examination findings;<br />
<strong>Annual</strong> Report <strong>HSE</strong> 2012<br />
1 Introduction<br />
11